Rule 430. Partial Delivery of Securities to Customers on C.O.D. Purchases

This rule is no longer applicable.

No member or member organization may accept from a customer a purchase order for any security, other than obligations of the United States Government, unless it has first ascertained that the customer placing the order or its agent will receive against payment securities in an amount equal to any execution confirmed to the customer, even though such an execution may represent the purchase of only a part of a larger order.