Description
A Connecticut corporation plans to offer stock to Connecticut residents. In lieu of paying cash, investors may elect to purchase their stock on an installment plan calling for 36 easy monthly payments. At what point will the Rule 147’s holding period expire? See Opportunity Inv. Assocs., SECNo Action Letter(June 14, 1978). What if before this point one of the purchasers moves to another state? What can be done to ensure the holding period expires at the earliest possible date? See Diplomat, Ltd., SEC No Action Letter (Jan. 13, 1984).
Explanation & Answer
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Running Head: RULE 147’S HOLDING PERIOD
Rule 147’s Holding Period
Institution
Name
Date
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RULE 147’S HOLDING PERIOD
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Introduction
In overview, Rule 144 is a form of tax regulation introduced by the SEC which outlines
the conditions, procedures and requirements at when restricted, registered and unregistered
securities are sold or resold. Therefore, Rule 144 offers exemption conditions and restrictions on
how and when to sell securities at the public markets after the specific conditions are met. Note
that, Rule 144...
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