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This entry was published on 2014-09-22
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Delivery to customers of memoranda of transactions by brokers
General Business (GBS) CHAPTER 20, ARTICLE 21-A
§ 339-f. Delivery to customers of memoranda of transactions by
brokers. A person engaged in the business of purchasing or selling as
broker stocks, bonds and other evidences of debt of corporations,
companies or associations shall deliver to each customer on whose behalf
a purchase or sale of such securities is made by him a statement or
memorandum of such purchase or sale, a description of the securities
purchased or sold, the name of the person, firm or corporation from whom
such securities were purchased, or to which the same were sold, and the
day, and the hours between which the transaction took place. A broker
who refuses to deliver such statement or memorandum to a customer within
twenty-four hours after a written demand therefor, or who delivers a
statement or memorandum which is false in any material respect, is
guilty of a misdemeanor.