5.16.060 Securities and Exchange Commission exemption.
This section is included in your selections.
The tax imposed shall not apply to the making or delivery of conveyances to make effective any order of the Securities and Exchange Commission, as defined in Internal Revenue Code (1954) Section 1083 (2), but only if:
A. The order of the Securities and Exchange Commission in obedience to which such conveyance is made recites that such conveyance is necessary or appropriate to effectuate the provisions of Section 79k of Title 15 of the United States Code, relating to the Public Utility Holding Company Act of 1935;
B. Such order specified the property which is ordered to be conveyed;
C. Such conveyance is made in obedience to such order. (Ord. 309, eff. 12/6/67; Prior code § 14206)