§ 230.150 Definition of “commission or other remuneration” in section 3(a)(9), for certain transactions.
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
commission or other remunerationThe term in section 3(a)(9) of the Act shall not include payments made by the issuer, directly or indirectly, to its security holders in connection with an exchange of securities for outstanding securities, when such payments are part of the terms of the offer of exchange.
[2 FR 1076, May 26, 1937]
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