Colorado Springs Notary - Leon Austin

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Medallion Signature Guarantee

Occasionally I will get a request to do something that I simply am not authorized to do as a Colorado notary public. Today was such a day, and a Medallion Signature Guarantee is such an act.

The man told me that it was for transferring stock between himself and his father. It reminded me of the time when I had a stock certificate that I wanted to transfer to my brokerage account so that the shares would be in "street name". I took the stock certificate to Wells Fargo, where I have an account, and one of the bank employees affixed a Medallion Signature Guarantee stamp.  But this man told me that he didn't have a bank account. So he called me, hoping that I could help him.

Medallion Signature GuaranteeUnfortunately I can't. Even if I owned a Medallion Signature Guarantee stamp, I am not authorized to guarantee a signature. Here is a sample of a Medallion Signature Guarantee imprint:

It must be done by a financial institution (i.e. bank, credit union, or broker dealer) that participates in one of the Medallion signature guarantee programs.

 

 

 

For more information, read: Signature Guarantees: Preventing the Unauthorized Transfer of Securities at the U.S. Securities and Exchange Commission website.

 

 

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Comment balloon 3 commentsLeon Austin • December 19 2007 10:43PM

Comments

This is an odd one.  Wonder why he doesn't have a bank account?

Posted by Marlene Bridges, Laguna Homes|Laguna Condos|Laguna Real Estate (Village Real Estate Services, Inc.) over 12 years ago

Marlene, perhaps he meant that he doesn't have an account with a financial institution in Colorado Springs. He might be from out of town.

 

Posted by Leon Austin, Colorado Springs Mobile Notary (Mobile Notary Services) over 12 years ago
I am focusing on building my general notary business. Thank you for all the information you share.
Posted by Jacqueline Dyson (Dyson's Mobile Notary Service) about 12 years ago

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