Prepare the share-transfer pack for a corporation
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List the transferor, the transferee, the number of shares and the class as the lawyer supplies them, and flag any restriction stated in the certificate or the bylaws the lawyer has marked. Do not prepare a transfer form. State law governs, and the lawyer confirms the governing state. For example, the Delaware General Corporation Law. Delaware is the most common state of incorporation.
- What the lawyer must review
- Section 159: the shares of stock in every corporation shall be deemed personal property and transferable as provided in Article 8 of subtitle I of Title 6. You open that Article, and you read any restriction in the certificate or the bylaws, before a transfer is treated as complete. You write any instrument that will be signed. If a transfer is for collateral security and not absolute, § 159 requires that fact to be expressed in the entry of transfer when, as the certificates are presented or uncertificated shares are requested to be transferred, both the transferor and the transferee ask the corporation to do so. The section does not set out a certificate legend. Model Rule 1.6: do not put the register into a public tool. State law governs, and the lawyer confirms the governing state. For example, the Delaware General Corporation Law. Delaware is the most common state of incorporation.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes identifying points for review. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Obtain and inspect the relevant current official register or search result. Confirm identities, interests and the date and scope of the search.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.