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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (211704)	7/22/2009 10:38:22 AM
From: Galirayo	Respond to of 306849

Important Information on Buying and Selling Registered Warrants Registered warrants are securities under federal law: The U.S. Securities and Exchange Commission (SEC) has determined registered warrants are securities under federal law. That means individuals or businesses who buy and then resell registered warrants must be licensed securities broker-dealers, or they risk violating federal law. Registered warrant holders must be treated fairly: The Municipal Securities Rulemaking Board (MSRB) has issued guidelines to protect registered warrant holders when they sell their registered warrants to broker-dealers. In part, the MSRB notice, issued July 10, 2009, states broker-dealers "must not take advantage of a customer's need for cash by offering to purchase registered warrants at deeply discounted prices that are below what could reasonably be viewed as their fair market value." If you are an individual, and you purchased a registered warrant from another individual, and if you cannot deposit or cash the warrant with your bank, you can redeem the registered warrant with the State Treasurer's Office in person or via mail, when the registered warrant is eligible to be redeemed (see When Can You Redeem Your Registered Warrant?). PLEASE NOTE: The State Treasurer's Office will not redeem such registered warrants without a notarized Bill of Sale signed by the payee whose name appears on the registered warrant. This requirement to present a notarized bill of sale to redeem a registered warrant does NOT apply to banks, credit unions, investment banks, other financial institutions, brokerage firms or broker-dealers. Check the status of IOUs to find out whether the State Controller's Office has issued or placed a stop payment on a particular registered warrant. treasurer.ca.gov sco.ca.gov