Legal Library: Search

2/4/93 called (redacted) and advised that letter represents the position of the PMN Officeso long as the creditor is not a competitor of the issuer whose stock or assets are beingtaken as part of a...

None

Trial balance sheet with errors is not a regularly prepared balance sheet but is in the process of being prepared. Once prepared without errors and if prepared on a monthly basis it becomes the last...

None

Raw timberland is exempt since it has not been harvested in 5 years. Also it is only inventory for buyer who will use it in the ordinary course of his business.

1/25/93 Called [redacted]. It appears that [redacted] is a political subdivision, and therefore, exempt. Nonprofit corporate affiliate is an entity and would be required to file if it meets the size...

1/22/93 PMN cant expand 802.30 to exclude the merger of two subs held contractually. Must be by holdings of voting securities.

1/13/93 Exempt under 802.63. RS concurs.

1/11/93 - called [redacted]. He advises that [redacted] holds only [redacted] and the latter's financials reflect the size of [redacted]. [Redacted] is a single entity and controls neither entity. The...

1/11/93 Under 801.1(c)(4), if settlor retains a reversionary interest, then settlor holds assets of the trust. By naming himself beneficiary, individual who contributed more than 50% has retained a...

None

The Trust remains in existence and continues to hold title to the asset after the transaction. This is a purchase of a stream of income and not reportable.

In order to be an exempt transaction under section 802.51, you need only to satisfy one of the subsections (a, b, c or d) listed therein.

See # 23 in Premerger Practice Manual refers to the PMN Office position on loans. Called [redacted] 12-18-92. Noted that the sale of substantially all of a portfolio of loans can be exempt under c-1...