Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 17 - Commodity and Securities Exchanges |
Chapter II - Securities and Exchange Commission |
Part 240 - General Rules and Regulations, Securities Exchange Act of 1934 |
Exemption of Certain Transactions from Section 16(B) |
§ 240.16b-5 - Bona fide gifts and inheritance.
Latest version.
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§ 240.16b-5 Bona fide gifts and inheritance.
Both the acquisition and the disposition of equity securities shall be exempt from the operation of section 16(b) of the Act if they are: (a) Bona fide gifts; or (b) transfers of securities by will or the laws of descent and distribution.