Declaration for Removal of Legend (Rule 903 Resale) | Practical Law
A declaration for the removal of a restrictive legend from a certificate representing shares of common stock to facilitate a resale exempt from registration under Rule 903 of Regulation S under the Securities Act of 1933. A selling stockholder affiliate of the issuer and a broker-dealer acting on its behalf can deliver this declaration to the issuer and the issuer's transfer agent or other intermediary as one of the documents required for a Rule 903 resale. This Standard Document has integrated notes with important explanations and drafting tips.