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APPENDIX 
A certificate with an inscription to indicate tenancy in common, unless 
signed by all co-tenants, is not a delivery. 
18. Each signature to an assignment or a power of substitution must be 
witnessed by an individual. 
19. Where there are two or more signatures to an assignment, the witness 
must state definitely, in his own handwriting, which signature he witnesses. 
20. A certificate with either the assignment or power of substitution 
witnessed by a deceased person is not a delivery. 
21. An endorsement by a member or his firm of (or the signature as a 
witness by such a member of a signature to) an assignment or a power of 
substitution is a guarantee of its correctness. 
22. An assignment of a certificate not in the name of a member or a 
member’s firm must be either witnessed by a member or the correctness of 
the signature guaranteed by a member or a member's firm. Each power 
of substitution executed by a non-member as well as the assignment, must 
be so witnessed or guaranteed. 
23. A certificate with an assighment or power of substitution executed 
or guaranteed by a member or member's firm not having an office in 
the vicinity of the Exchange, or witnessed by such a member, must be 
guaranteed by a member or firm having an office in the vicinity of the 
Exchange or the assignment and each power of substitution must be stamped 
by such a member or member’s firm first delivering it, as follows: 
“Delivered by..oer vevevenn. SERRE RNR A 
(Name of resident member or firm.) 
24. A certificate with an assignment or power of substitution guaranteed 
by a member or his firm, suspended for insolvency, is not a delivery unless 
reguaranteed by a member in good standing or his firm. 
25. The receiver of stock may demand delivery by transfer when the 
transfer books are open and must give ample time in which to make transfer. 
The party making delivery may demand payment for the same at the time of 
delivery to the transfer office. Any expense imposed by a Transfer Agent 
must be defrayed by the receiver. 
26. The seller may make delivery by transfer when personal liability 
attaches to ownership, while the transfer books are open. 
27. The assignment and each power of substitution on a certificate of a 
company whose transfer bookseare closed indefinitely for any reason, legal 
or otherwise, must be properly acknowledged. 
28. A certificate of stock on which the name of a transferee has been 
filled in in error, may be made a delivery during the closing of the transfer 
500ks by ruling of the Committee on Securities. Necessary detailed infor- 
mation will be furnished on application to the Secretary of the Committee. 
20. Acknowledgments, affidavits, or depositions must be executed before 
an officer having authority to take acknowledgments under the Laws of the 
State of New York and must bear the seal of the signing officer. 
30. In the acknowledgment of an assignment or power of substitution 
executed by an individual, the signing officer must certify that he knows 
the person signing to be the person named in the certificate or in the 
power of substitution and that the signor acknowledged his signature. 
31. In the acknowledgment of an assignment or power of substitution 
in the name of a firm, the signing officer must certify that he knows the 
nerson and knows him to be. or to have been on the date of execution. a