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Let us being addressing the issue of rule 144. Sales of restricted stock are subject to Rule 144 of the federal Securities Act of 1933. Resales of all unregistered stock purchased directly from the Company or an Affiliate of the Company are restricted under the federal securities laws. Examples of situations where the Company is required to place a restrictive legend on a stock certificate include acquisition of the shares by the shareholder (a) through a private placement memorandum, (b) as a result of a merger between a privately owned and a publicly owned company, or (c) as a result of converting a debenture to common shares.
Secondly, you will require a brokerage account before you can operate traditional IRAs. You will have to have an account with a designated broker.
Rule 14 prescribes the standard capital requirements for the broker.
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