Definition of Transfer agent:
A transfer agent is a trust company, bank, or similar institution assigned by a corporation for the purposes of maintaining an investor's financial records and tracking each investor's account balance. The transfer agent records transactions, cancels and issues certificates, processes investor mailings, and handles a host of other investor problems, including reissuing lost or stolen certificates.
Bank, person, or trust company that is entrusted by a firm to issue, register, and redeem securities on its behalf. In case of bonds and other debt securities a transfer agent is called a registrar.
Transfer agents work closely with registrars to ensure investors receive their due interest and dividend payments in a timely manner. Transfer agents likewise oversee the mailing of monthly investment statements to mutual fund shareholders.
How to use Transfer agent in a sentence?
- A transfer agent plays a vital role in acting as a liaison between a company's registrar and an investor.
- You should try and talk with a transfer agent if you think that there may be different ways for your business to grow.
- The transfer agent successfully completed the transaction so all parties involved were made whole and happy by the services rendered.
- He was the transfer agent and that was good to hear because I really trusted him and knew he would do a great job.
- Bond transfer agents make sure bondholders receive their due interest payments, plus the face value of the bond, once it reaches maturity.
- Stock transfer agents make sure shareholders receive dividend payments in a timely manner.
- Transfer agents closely maintain an investor's account balances and electronically maintain certificates of security ownership.
Meaning of Transfer agent & Transfer agent Definition