Recordkeeping Responsibilities

When a syndicate has not been formed for a primary offering, these records must be maintained by the sole underwriter:

• • Description and aggregate par value of the securities
• • Statement of all terms and conditions required by the issuer
• • All orders received for the purchase of the securities from the underwriter
• • All allotments of securities and the price at which sold
• • Those instances in which the underwriter accorded equal or greater priority to orders for its own account or its related accounts over other orders and the reasons for doing so
• • Date and amount of any good faith deposit made to the issuer
• • Date of settlement with the issuer

When a syndicate has been formed for the purchase of municipal securities, the syndicate manager must maintain these additional records:

• • Name and percentage of participation of each member of the syndicate
• • Terms and conditions g