44-1877. Escrow of treasury stock; restrictive sales agreement
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/az/title-44/44-1877A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as provided in section 44-1901, the commission may in its discretion by order require as a condition to registration of securities under this chapter that all treasury stock of the issuer, or other securities issued and thereafter acquired by the issuer, shall be subject to a restrictive sales agreement or shall be deposited in escrow in a suitable depository, subject to the terms and conditions as to release from the restrictive sales agreement or the escrow as the commission deems necessary.
Any treasury stock or other security that is subject to a restrictive sales agreement shall have a legend on the back of the treasury stock or other security that states that the treasury stock or other security is subject to a restrictive sales agreement.