General Rules and Regulations
promulgated
under the
Securities Act of 1933
Rule 140 -- Definition of "Distribution" in Section 2(a)(11), for Certain
Transactions
A person, the chief part of whose business consists of the purchase of the securities
of one issuer, or of two or more affiliated issuers, and the sale of its own securities,
including the levying of assessments on its assessable stock and the resale of
such stock upon the failure of the holder thereof to pay any assessment levied
thereon, to furnish the proceeds with which to acquire the securities of such
issuer or affiliated issuers, is to be regarded as engaged in the distribution
of the securities of such issuer or affiliated issuers within the meaning of section
2(a)(11) of the Act.
Notice to Users: The Deskbook is made available
with the understanding that the University of Cincinnati College
of Law is not engaged in rendering legal, accounting or other professional
services. If legal advice or other expert assistance is required,
the services of a competent professional person should be sought. See Terms and Conditions of Use.
