§ 802.65. Exempt acquisition of non-corporate interests in financing transactions.
76 words·~1 min read·
/us/cfr/t16/s§ 802.65·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An acquisition of non-corporate interests that confers control of a new or existing unincorporated entity is exempt from the notification requirements of the Act if:
(a)The acquiring person is contributing only cash to the unincorporated entity;
(b)For the purpose of providing financing; and
(c)The terms of the financing agreement are such that the acquiring person will no longer control the entity after it realizes its preferred return. \[70 FR 11514, Mar. 8, 2005\]