How long does it take to get an opinion letter?
How long do Opinion Letters take to draft? Typically, from the time of your kick-off call you can expect to have your Opinion Letter within 2 weeks. This is because Opinion Letters often require significant legal research and must be drafted with extreme care and surety.
What is a 144 opinion?
Rule 144 Opinions\n\n Securities counsel are frequently asked to deliver opinions stating that certain securityholders may sell restricted securities without registration under the Securities Act in reliance on Rule 144 under the Securities Act. The opinions are often referred to as Rule 144 opinions.
What letters are required to sell 144 stock?
Your securities broker will prepare a seller's representations letter, a broker's representations letter (if required), a Form 144 (if you are an affiliate), a stock power and other documents associated with the transaction. You may need experienced help to complete a seller's representations letter or Form 144.
What is a 144 letter?
Form 144 must be filed with the SEC by an affiliate as a notice of the proposed sale of securities when the amount to be sold under Rule 144 during any three-month period exceeds 5,000 shares or units or has an aggregate sales price in excess of $50,000.