Code of Federal Regulations (Last Updated: April 5, 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 Securities from Section 15(a) |
§ 240.15a-2 - Exemption of certain securities of cooperative apartment houses from section 15(a).
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§ 240.15a-2 Exemption of certain securities of cooperative apartment houses from section 15(a).
Shares of a corporation which represent ownership, or entitle the holders thereof to possession and occupancy, of specific apartment units in property owned by such corporations and organized and operated on a cooperative basis are hereby exempted from the operation of section 15(a) of the Securities Exchange Act of 1934, when such shares are sold by or through a real estate broker licensed under the laws of the political subdivision in which the property is located.
[13 FR 8204, Dec. 22, 1948]