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Guide to Restrictions

The following documentation is required for legend removal pursuant to Rule 144.

Please see the downloadable documents below. Please call our office for the requirements associated with any other exemption being used.  




1. Original Certificate

2. Written request to remove the legend.
3. Legal Opinion Letter (from legal counsel of the issuer or any securities lawyer in good standing) 
4. Seller’s Representation Letter

5. Broker’s Representation Letter and copy of the filed Form 144 (only necessary for affiliate resales)
6. Mailing Instructions to deliver the new certificate
7. Applicable Fees


As a non-routine item, a notice of the legend removal request will be sent to the issuer.  The issuer is given 3 business days to affirm or reject the legend removal, though more time may be given in some circumstances.  Should the removal be rejected, Island will request the issuer to provide legal justification for the rejection, which will be provided to the shareholder if requested. 




1. Original Certificate
2. Original Stock Power with Medallion Guaranteed signature of transferor
3. Instructions to transfer, if not already fully identified on the Stock Power, which should include:
    A. Names, Addresses, Social Security Numbers (or passport of government-issued ID number for non U.S. citizens/residents) of each transferee.  Please also provide a Phone # and Email (if available).

4. Cost Basis

5. Mailing Instructions to deliver the new certificate(s)
6. Applicable Fees

Legend Removal Forms

For more information please contact us:

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