17 C.F.R. § 230.149
Definition of “exchanged” in section 3(a)(9), for certain transactions
The term exchanged in section 3(a)(9) (sec. 202(c), 48 Stat. 906; 15 U.S.C. 77c(9)) shall be deemed to include the issuance of a security in consideration of the surrender, by the existing security holders of the issuer, of outstanding securities of the issuer, notwithstanding the fact that the surrender of the outstanding securities may be required by the terms of the plans of exchange to be accompanied by such payment in cash by the security holder as may be necessary to effect an equitable adjustment, in respect of dividends or interest paid or payable on the securities involved in the exchange, as between such security holder and other security holders of the same class accepting the offer of exchange.
Notes of Decisions
Cited in 3
cases, 1974–1999 · leading case: Kennilworth Partners L.P. v. Cendant Corp., 59 F. Supp. 2d 417 (D.N.J. 1999).
Kennilworth Partners L.P. v. Cendant Corp., 59 F. Supp. 2d 417 (D.N.J. 1999). “” The Securities and Exchange Commission (“SEC”) has promulgated Rule 149, 17 C.F.R. § 230.149 , which defines “exchanged” used in § 3(a)(9): *423 The term “exchanged” in section 3(a)(9) .”
Reserve Life Ins. Co. v. Provident Life Ins. Co. Et Al., 499 F.2d 715 (8th Cir. 1974). “, discussed in Part V of this opinion infra 6 In conjunction with this section, the Commission has promulgated Rule 149, 17 C.F.R. 230.149, which attempts to further explain the term 'exchanged' as used in 3(a)(9) as follows: The term 'exchanged' in section 3(a)(9) * * *, shall…”
Reserve Life Ins. v. Provident Life Ins., 499 F.2d 715 (8th Cir. 1974). “In conjunction with this section, the Commission has promulgated Rule 149, 17 C.F. R. § 230.149, which attempts to further explain the term “exchanged” as used in § 3(a)(9) as follows: The term “exchanged” in section 3(a)(9) * * *, shall be deemed to include the issuance of a…”
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