Transfers of Fractional Shares. You acknowledge that fractional shares cannot be transferred to or from another financial institution from or to your Account, respectively. For greater clarity, requests for transfers to or from another financial institution will only be processed for whole shares. In respect of transfers from your Account to another financial institution involving a combination of whole shares and fractional shares, you acknowledge that you must either (i) reinitiate a partial in-kind transfer for the whole shares and leave the fractional shares with the Firm or (ii) liquidate your fractional shares and reinitiate an in-kind transfer for the whole shares.
Appears in 6 contracts
Samples: Client Account Agreement, Client Account Agreement, Client Account Agreement
