MANAGING SECURITIES FOR DECEASED SHAREHOLDERS: MERJ DEPOSITORY AND REGISTRY LIMITED POLICY

When a shareholder dies, the process of managing their securities becomes a legal and procedural matter for beneficiaries. A new policy from MERJ Depository and Registry Limited (MERJ DEP), effective September 1, 2024, sets clear steps to handle these transitions in line with U.S. and global standards. A $400 processing fee covers the administrative tasks involved from a MERJ point of view.

Upon notification, MERJ gathers the required documents, verifies them, and ensures there are no legal obstacles. With clearance, shares are transferred based on the deceased’s wishes or legal guidelines, and beneficiaries are kept updated throughout. MERJ supports tax compliance, though tax obligations remain the executor’s responsibility, and dividends are held in trust or distributed per instructions.

The process is outlined in greater detail in the steps below.

1. Notification of Death
   MERJ must be notified by an executor, legal representative, or close family member with a certified copy of the death certificate.


2. Providing Legal Documentation
   Required documents include a certified death certificate, proof of authorization (e.g., Will, Grant of Probate, or Letters of Administration), and government-issued ID.


3. Verification and Legal Clearance
   MERJ verifies documents and checks for any legal issues. Upon clearance, the process moves forward.


4. Transferring Shares
   Shares are transferred based on instructions or legal guidelines. Securities may go to beneficiaries or to an executor’s account if needed.


5. Updating Records
   MERJ updates its records to reflect the new ownership, ensuring future communications reach the appropriate parties.


6. Keeping Beneficiaries Informed
   MERJ confirms with executors and beneficiaries upon completion, maintaining transparency.


7. Tax Compliance
   MERJ supports procedural aspects, while tax obligations fall to the estate’s representatives.


8. Handling Dividends and Entitlements
   Dividends accrued after death are held in trust or distributed as directed by the executor.


9. Ongoing Support
   MERJ provides ongoing support for new security holders or executors.


10. Resolving Disputes
    If disputes arise, the transfer process is paused until resolved.