12 CFR 221.123 - Combined credit for exercising employee stock options and paying income taxes incurred as a result of such exercise.
(a) Section 221.4(a) and (b), which provides special treatment for credit extended under employee stock option plans, was designed to encourage their use in recognition of their value in giving an employee a proprietary interest in the business. Taking a position that might discourage the exercise of options because of tax complications would conflict with the purpose of § 221.4(a) and (b).
Title 12 published on 2014-01-01
no entries appear in the Federal Register after this date.