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Rule 728. Restricted Stock

This rule is no longer applicable effective February 17, 2009.

For the purpose of: (i) covering a short position in a call option contract, or (ii) delivery pursuant to the exercise of a put option contract, or (iii) satisfying an exercise notice assigned in respect of a call option contract, no member or member organization shall accept or deliver shares of an underlying stock, which may not be sold by the holder thereof except upon registration pursuant to the provisions of the Securities Act of 1933 or pursuant to SEC rules promulgated under the Securities Act of 1933, unless, at the time such securities are accepted or delivered, applicable provisions of the Securities Act of 1933 and the Rules thereunder have been complied with by the holder of such securities.

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