Question

Explain the purpose or function of: (a) the stockholders' ledger, (b) the minutes book, (c) the stock- transfer agent, and (d) the stock registrar. Explain and provide examples.

Answer 1

Stock ledger :The Stock ledger is the official record of stock of corporation.It contains the lists of names and addresses of the stock holders, the number of shares owned by them,the certificate numbers of their stock certificates and the date when stock is issue to the stock holders

Minutes Book : Majority of the decissions implemented by the company should have consent of board of directors and share holders. for taking such consent the company should conduct the meeting to pass the resolution in that regard. Minute book is a book which contains the written record of what was said and decided at the meeting . generally the company's complaince team will look into these maters.

Stock transfer Agent :  The stock transfer agent is appointed by the company to Keep a records of Names , addresses,and number of shares held by its share holders.The stock transfer agent also distributes dividend cheques to the share holders.

Examples : Bank of new york mellon and Capital Transfer Agency Inc etc are some stock transfer agents

Stock Registrar Registrar maintains records of who owns individual shares or bonds in exchange for a fee paid by the issuer. Registrars help ensure that shares and bonds are authentic and that bonds represent a legitimate legal obligation on the part of the issuer. in simple registrar handles records for stocks and bonds.

Example : Bank of new york mellon and citi bank NA are some of the examples of Stock registrars.