letter stock


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Related to letter stock: Restricted stock
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Noun1.letter stock - stock that has not been registered with the Securities and Exchange Commission and cannot be sold to the general public
letter security - a stock or bond that is not registered with the Securities and Exchange Commission and cannot be sold in the public market
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Specific types of restricted or pledged assets include those subject to repurchase and reverse purchase agreements, those pledged as collateral are placed under option agreements and letter stock or securities restricted as to sale (deposits with States are excluded).
In the case of private placements, possible restrictions on the sale of stock ("letter stock") and the lack of SEC registration may severely limit the ability to sell an investment.
For example, these rules ensure the FIE Rules apply to letter stock of an NRE (not otherwise subject to the FIE Rules) that tracks investment property.