17 CFR 240.15a-2
§ 240.15a-2 Exemption of certain securities of cooperative apartment houses from section 15(a).
United States · 17 CFR — Commodity and Securities Exchanges · Status: effective
Cite this
- Citation
- 17 CFR 240.15a-2, § 240.15a-2 Exemption of certain securities of cooperative apartment houses from section 15(a), United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/69173
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Full text
Shares of a corporation which represent ownership, or entitle the holders thereof to possession and occupancy, of specific apartment units in property owned by such corporations and organized and operated on a cooperative basis are hereby exempted from the operation of section 15(a) of the Securities Exchange Act of 1934, when such shares are sold by or through a real estate broker licensed under the laws of the political subdivision in which the property is located.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.