§ 341.2 Definitions.

For the purpose of this part, including all forms and instructions promulgated for use in connection herewith, unless the context otherwise requires:

transfer agent(a) The term means any person who engages on behalf of an issuer of qualifying securities or on behalf of itself as an issuer of qualifying securities in: (1) Countersigning such securities upon issuance;

(2) Monitoring the issuance of such securities with a view to preventing unauthorized issuance, a function commonly performed by a person called a registrar;

(3) Registering the transfer of such securities;

(4) Exchanging or converting such securities; or

transfer agent(5) Transferring record ownership of securities by bookkeeping entry without physical issuance of such securities certificates. The term includes any person who performs these functions as a co-transfer agent with respect to equity or debt issues, and any person who performs these functions as registrar or co-registrar with respect to debt issued by corporations.

1. A transfer agent of stock or shares in a mutual fund maintains the records of shareholders and transfers stock from one shareholder to another by cancellation of the surrendered certificates and issuance of new certificates in the name of the new shareholder. A co-transfer agent also performs these functions.

2. A registrar of stock or shares in a mutual fund monitors the issuance of such securities to prevent over-issuance of shares, affixing its signature of each stock certificate issued to signify its authorized issuance. A co-registrar also performs these functions.

3. A registrar of corporate debt securities maintains the records of ownership of registered bonds; makes changes in such records; issues, transfers, and exchanges such certificates; and monitors the securities to prevent over-issuance of certificates. A co-registrar also performs these functions.

Act(b) The term means the Securities Exchange Act of 1934.

ARA(c) The acronym means the appropriate regulatory agency, as defined in section 3(a)(34)(B) of the Act.

Federal bank regulators(d) The phrase means the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation.

Form TA-1(e) The term means the form and any attachments to that form, whether filed as a registration or an amendment to a registration.

registrant(f) The term means the entity on whose behalf Form TA-1 is filed.

SEC(g) The acronym means the Securities and Exchange Commission.

covered institution(h) The term means an insured State nonmember bank, an insured State savings association, and any subsidiary of such institutions.

qualifying securities(i) The term means:

l(1) Securities registered on a national securities exchange (15 U.S.C. 78(b)); or

l(2) Securities required to be registered under section 12(g)(1) of the Act (15 U.S.C. 78(g)(1)), except for securities exempted from registration with the SEC by section 12(g)(2) (C, D, E, F, and H) of the Act.

Note:The following examples are illustrative of the kinds of activities engaged in by transfer agents under this part.

[47 FR 38106, Aug. 30, 1982, as amended at 81 FR 27297, May 6, 2016]