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Author: KentuckyDuck One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 4956  
Subject: Re: Response from BuyandHold Date: 4/19/2001 8:57 AM
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B&H quote regarding insolvency: "Customers would then have the option of either transferring out their shares to an outside brokerage firm with no additional charge or to have their shares issued to them in certificate form. You would be notified as soon as possible if the situation did arise." <snip>

This is reassuring to me. We've just recently joined B&H and have 5 accounts now with them (ROTH IRA for me & spouse, a joint acct., and an UGMA and Ed. IRA for our daughter). So, I'd be looking at $250 to bail out.

If SIPC protects us from the "transfer out" fee as stated above, then it would be IMHO unFoolish to bail now. Granted, it might take months to clear out the accounts, but what the heck, this is all stuff we're not going to touch for 20 years anyway, right ;-)

KyDuck
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