§ 3.32.060. Exemptions and exceptions—Bankruptcy, receivership and reorganization

Latest version.

Any tax imposed pursuant to this chapter shall not apply to the making, delivering or filing of conveyances to make effective any plan or reorganization or adjustment:
A.

Confirmed under the Federal Bankruptcy Act, as amended;

B.

Approved in an equity receivership proceeding in a court involving a railroad corporation, as defined in subdivision (m) of section 205 of title 11 of the United States Code, as amended; or

C.

Approved in any equity receivership proceeding in a court involving a railroad corporation, as defined in subdivision (3) of section 506 of title 11 of the United States Code, as amended; or

D.

Whereby a mere change in identity, form or place of organization is effected.

Subdivision A to D inclusive of this section shall only apply if the making, delivery or filing of instruments of transfer or conveyances occurs within five years from the date of such confirmation, approval or change.

(Ord. No. 380)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');