Blue Sky; Escheatment Clause Samples
The "Blue Sky; Escheatment" clause governs compliance with state securities laws (often called "Blue Sky" laws) and addresses the handling of unclaimed property, such as uncashed payments or unclaimed shares. In practice, this clause requires the parties to ensure that any securities issued or transactions conducted comply with the registration or exemption requirements of each relevant state, and it outlines procedures for remitting unclaimed assets to the appropriate state authorities after a specified period. Its core function is to ensure legal compliance across jurisdictions and to manage the risk and administrative burden associated with unclaimed property, thereby protecting both the issuer and the holders from inadvertent legal violations or loss of property.
Blue Sky; Escheatment. (a) Provide a system that will enable the Trust to calculate the total number of Shares of each Fund and Class thereof sold in each State; and
(b) Monitor and make appropriate filings with respect to the escheatment laws of the various states and territories of the United States.
Blue Sky; Escheatment. (a) Citibank shall calculate the total number of Shares of each Fund and Class thereof sold in each reporting jurisdiction authorized by the Trust;
(b) Citibank shall monitor and prepare and make appropriate filings with respect to the escheatment laws of the various states and territories of the United States;
(c) Citibank shall perform such services as are required in order to comply with Rules 17Ad-17 of the 1934 Act (the "Lost Shareholder Rules"), including, but not limited to, those set forth below. Citibank may, in its sole discretion, use the services of a third party to perform some or all such services.
Blue Sky; Escheatment. (a) Calculate the total number of Shares of each Fund and Class thereof sold in each reporting jurisdiction authorized by the Trust;
(b) Monitor and prepare and make appropriate filings with respect to the escheatment laws of the various states and territories of the United States;
(c) Perform such services as are required in order to comply with Rule 17Ad-17 of the 1934 Act (the "Lost Shareholder Rules"), including those set forth below.
(i) documentation of search policies and procedures;
(ii) execution of required searches;
(iii) tracking results and maintaining data sufficient to comply with the Lost Shareholder Rules; and
(iv) preparation and submission of data required under the Lost Shareholder Rules.
Blue Sky; Escheatment. (a) Monitor sales of Shares for compliance with state blue sky laws;
(b) Register or prepare applicable filings with respect to the Shares with the various state and other securities commissions of the United States and its territories, and advise the distributor of the Fund as soon as possible of changes in the Fund's blue sky status;
(c) Calculate the total number of Shares of the Fund and each Class sold in each reporting jurisdiction authorized by the Fund;
(d) Monitor and prepare and make appropriate filings with respect to the escheatment laws of the various states and territories of the United States; and
(e) Perform such services as are required in order to comply with Rule 17Ad-17 of the 1934 Act (the "Lost Shareholder Rules"), including those set forth below:
(i) documentation of search policies and procedures;
(ii) execution of required searches;
(iii) tracking results and maintaining data sufficient to comply with the Lost Shareholder Rules; and
(iv) preparation and submission of data required under the Lost Shareholder Rules.
Blue Sky; Escheatment. (a) Atlantic shall calculate the total number of Shares of the Fund and Class thereof sold in each reporting jurisdiction authorized by the Trust;
(b) Atlantic shall monitor and prepare and make appropriate filings with respect to the escheatment laws of the various states and territories of the United States;
(c) Atlantic shall perform such services as are required in order to comply with Rules 17Ad-17 of the 1934 Act (the “Lost Shareholder Rules”), including, but not limited to, those set forth below. Atlantic may, in its sole discretion, use the services of a third party to perform some or all such services.
(i) documentation of search policies and procedures;
(ii) execution of required searches;
(iii) tracking results and maintaining data sufficient to comply with the Lost Shareholder Rules; and
(iv) preparation and submission of data required under the Lost Shareholder Rules.
Blue Sky; Escheatment. (a) Citibank shall calculate the total number of Shares of each Fund and Class thereof sold in each reporting jurisdiction authorized by the Trust;
Blue Sky; Escheatment. Provide data that will enable the Client to calculate the total number of Shares of each Fund and Class thereof sold in each State;