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WordNet-Online
Definitions from WordNet | ||||
Definitions from the WebStock PowerA stock power, also known as a stock power of attorney, is a legal document that allows shareholders to transfer ownership of their stock holdings to another individual or entity. It serves as a proof of the shareholder's intention to transfer their stock. Senses:1. Ownership Transfer:In this sense, a stock power refers to the document used to facilitate the transfer of ownership of stock shares. It contains relevant details such as the names of the parties involved, the number of shares being transferred, and any conditions or restrictions on the transfer. Sample Sentence: John signed the stock power to officially transfer his shares to his daughter. 2. Agent Authorization:In another sense, a stock power can act as a power of attorney, giving a designated agent the authority to make decisions regarding the stockholder's shares on their behalf. This allows the agent to buy, sell, or trade shares as necessary. Sample Sentence: Mary granted her financial advisor a stock power to manage her investment portfolio. Usage Examples:1. John completed the stock power and mailed it to the stock transfer agent. 2. The company required a signed stock power before approving the transfer of ownership. 3. The stock power authorized the attorney to vote on behalf of the absent shareholder at the annual meeting. Related Products: | ||||
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