Books close. Relates to transfer books for stocks.  On an advertised day prior to the payment of
a dividend on a stock the transfer books close and the stockholders then of record receive the
dividend. On and after the day the books close the stock sells ex-dividend or without the dividend.  
The transfer books also are closed on an advertised day prior to an election or other
stockholders' meeting and only stockholders then of record can vote at that election or meeting.  A
contract in a stock falling due during the regular closing of the transfer books of the company is
settled at maturity by the delivery of a certificate and power of attorney; on a contract which is at
the option of the buyer or of the seller notice for settlement may be given as if the books were
open. In case the books are closed for a dividend the party entitled to it receives a due bill for it.
Also see Books open.