Appellate Division of the Supreme Court of the State of New York March 19, 1970 (Branerton Corp. v. United States Corp.)

Steuer, J.

The defendant is the transfer agent for the stock of Tintair, Inc. Tintair had issued 10,000 shares of its stock to Simon, its president. These shares were acquired for investment purposes and were not registered with the Securities and Exchange Commission (SEC). In 1968 defendant received a request to transfer these shares to Kaplan.