Chapter: 3.12 Real
Property Transfer Tax
Section: 3.12.070 Securities
and Exchange Commission
The
tax imposed pursuant to this chapter shall not apply to the making or delivery of
conveyances to make effective any order of the Securities and Exchange
Commission, as defined in subdivision (a) of Section 1083 of the Internal
Revenue Code of 1954; but only if:
A. The order of the Securities and Exchange Commission in obedience to
which such conveyance is made recites 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;
B. Such order specifies the property, which is ordered to be conveyed;
C. Such
conveyance is made in obedience to such order.
(Ord. 68‑1 § 7, 1968.)