Notice Of Release Of Securities From Escrow {DFPI-260.141.13}

DFPI-260.141.13, NOTICE OF RELEASE OF SECURITIES FROM ESCROW, INSTRUCTIONS 1. Section 260.141.13(a) of the Commissioner’s Rules provides as follows: a. “Release of Outstanding Escrows.” All previous permits issued by the Commissioner under the California Corporate Securities Law as it existed prior to January 2, 1969, requiring the escrow of securities (other than promotional shares subject to waivers of assets or dividends and other than shares issued by corporations licensed under the Escrow Law, Sections 17000 and following, California Financial Code) shall be deemed amended to delete the escrow condition and to substitute pursuant to Section 260.141.11 of these rules and subject to qualifications and exceptions contained in that section of these rules, as to any or all such securities (other than promotional shares subject to waivers of assets or dividends and other than shares issued by corporations licensed under the Escrow Law, Sections 17000 and following, California Financial Code), upon the escrow holder holding the certificates representing the same stamping or printing prominently on their face a legend in the form prescribed by Section 260.141.11 of these rules. The escrow holder may take this action at his own election and must take said action upon the written request of any or all of the record owners of such securities. He is hereby authorized to release certificates so legended to the record owners thereof, and he is required thus to release certificates to any record owner upon whose written request they have been legended, or who makes a written request to the escrow holder for delivery of certificates which have been legended at the election of the escrow holder. Upon such release of certificates to the record owner, the escrow holder shall also deliver to the record owner a copy of Section 260.141.11 of these rules. “Any such escrow holder releasing securities from escrow pursuant to this section must within one month thereafter notify the Commissioner of such action.” 2. Each person receiving the certificates must receive a copy of Section 260.141.11, Title 10, California Code of Regulations. 3. The escrow holder must file with the Commissioner an executed copy of the Notice as it appears on the reverse side hereof. (Rev. 11-20). www.FormsWorkflow.com