ACE - Ancapistan Capital Exchange - The Ace of SL Stock Exchanges

Feb 1st 2009, 14:08

me@hamncheeseomlet.com

Share Reclamation

Periodically the issue comes up of what to do with shares that belong to an avatar that is no longer in SL for whatever reason. This posting is not a new policy, just a more accessible declaration of existing policy.

ACE's position is that shares bought and paid for by a shareholder's money is the property of that shareholder in continuum regardless of availability of or accessibility to the SL avatar that purchased those shares. However, ACE also recognizes that people leave SL for many reasons including lack of interest. It is our position that abandoned shares need to be reclaimed eventually by the issuing company in order to keep a clean shareholder list.

"ACE's definition of abandoned shares is shares that belong to an avatar that has been missing from SL Search for a period of at least 60 days; further, said avatar has not submitted a support ticket requesting transfer to an active avatar; further, company CEO has posted a "shareholder missing" news post stating shares will be reclaimed in 60 days; further, the shareholder has not logged into ACE during that time, finally, the shareholder does not have an email address on file on their userprofile "

Once shares are declared abandoned, ACE support staff will conduct a login check and email address check. If the login check shows that that shareholder has not logged into ACE for more than 60 days and there is no email address on file, the shares will be transferred to the CEO as treasury shares. If there is an email address on file, the shares will never become treasury shares. If there is not an email address on file, the shares will be transferred to the CEO and held as locked shares an additional 60 days. During which time, if the shareholder claims the shares, they will be transferred back to the account originally holding the shares without question. If the shareholder claims the shares after the 60 days have transpired there will be a period of coordination to retrieve the corresponding amount of shares back from the CEO but all attempts will be tried to return the shares to the rightful owner.

For summary, shares bought from companies are the property of the shareholders, but the CEO has the right to be able to have a clean shareholder list. It is the responsibility of the shareholder to update their profile with a valid email address so ACE staff can deliver owned shares to their rightful owner.

You can update your email address, by logging in and then clicking your name which will take you to your profile page. Fill out the email address with a valid email address or other valid way to reach you such as a skype id. The personally identifiable information can be used to help us verify that you are who you say you are in the event that the account you bought the shares on is deleted by Linden Lab (for whatever reason).

Any questions on this policy should be directed to ACE management or staff via the support ticket system or sending an email to support@ace-exchange.com

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