[Code of Federal Regulations]
[Title 17, Volume 2]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR230.140]

[Page 482]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
PART 230--GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933--Table of Contents
 
Sec. 230.140  Definition of ``distribution'' in section 2(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(11) of the Act.

[24 FR 6386, Aug. 8, 1959]