Law360, New York ( January 9, 2014, 6:22 PM EST) -- The "preexisting live" exemption provides that the extension of credit by a member bank to a nonaffiliate will be exempt from the Attribution Rule of Section 23A(a)(2) if (1) the proceeds thereof are used to purchase a security from or through a security affiliate of the bank, and (2) the extension of credit is made pursuant to a preexisting line of credit that was not established in contemplation of such purchase.[1]...
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.
A Law360 subscription includes features such as
- Daily newsletters
- Expert analysis
- Mobile app
- Advanced search
- Judge information
- Real-time alerts
- 450K+ searchable archived articles
And more!
Experience Law360 today with a free 7-day trial.