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The contribution agreement and ratification do not
identify any specific shares of Saztec stock, such as by
CUSIP number, location, or in any other manner. As
mentioned above, the brokerage statement for the Steins'
Broadcort account for the period ending April 24, 1987,
shows that there were 10,000 shares of Saztec stock held in
the Stein's Broadcort account on April 7, 1987, and 5,500
shares in the account on April 25, 1987.
Mr. Stein did not maintain an account with Broadcort
in his capacity as trustee of the trust. Mr. Stein
maintained an account with Drexel Burnham Lambert in his
name as trustee of the trust. The partnership did not have
an account with Broadcort.
Mr. Stein did not send written instructions to
Broadcort or its agent, Steinberg & Lyman, informing
Broadcort of the assignment of 2,000 of the 10,000 shares
of Saztec stock in the Steins' personal account to the
pension trust or asking that a separate account be
established in the name of the trust and that 2,000 shares
of Saztec stock be transferred from the Steins' personal
account to that separate account for the trust. Neither
Broadcort, Steinberg & Lyman, nor any of their employees
issued an acknowledgment or written confirmation to
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Last modified: May 25, 2011