Can this be a Subchapter S corporation and give your explanation
Read (skim) the attached private placement memorandum.
Answer the questions and then print off the answers only and turn in at class.
Can this be a Subchapter S corporation and give your explanation?
Answer:
Identify, copy and paste herein three references to federal securities law from the memorandum and define a legal term in the reference (the first one I have provided below – define one of the bold and underlined terms):
Suitability Standards The Shares will only be sold to persons who are “accredited investors” as defined under Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities Act”). See “INVESTOR SUITABILITY STANDARDS.
Definition:
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Definition:
Cut and paste the language underneath from the memorandum where it says that this is ‘not a sale of a security’. Why is this relevant?
Answer preview to can this be a Subchapter S corporation and give your explanation
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