§ 21-43. Exemption—Transfers pursuant to SEC orders.

Latest version.

No Documentary Transfer Tax shall be due upon any document transferring an interest in real property to effectuate an order of the Securities Exchange Commission (as defined in Section 1083 of the Internal Revenue Code), provided all of the following conditions are met:
(1)

The order states 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;

(2)

The order specifies the property which is ordered to be conveyed; and

(3)

The transfer is made in obedience to such order.

(Ord. No. 3982, § 2 (part), 3-25-08)

                    
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