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Rule 290. Defaulting Party May Deliver After "Buy-In" Notice

This rule is no longer applicable effective November 11, 2008.

A defaulting member or member organization (seller) who has received a "buy-in" notice, pursuant to Rule 282, or re-transmitted notice thereof, may deliver the securities to the initiating member or member organization (buyer) issuing such notice up to 3:00 p.m. ET. The defaulting member organization may deliver such securities after 3:00 p.m. ET on the "effective date" of the buy-in notice if: (i) agreed to by the initiating member organization, (ii) before the execution of the order and (iii) when the defaulting member organization has physical possession of the securities.

Amended:
November 28, 2005 (NYSE-2005-50).
Deleted by SR-FINRA-2008-036 eff. Nov. 11, 2008.

Selected Notice: 08-64.

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