security

(3) Definitions For the purpose of this subsection— (A) the term “security” has the meaning given to such term in section 78c(a)(10) of title 15 ; and (B) the term “principal underwriter” means any underwriter who, in connection with a primary distribution of securities— (i) is in privity of contract with the issuer or an affiliated person of the issuer; (ii) acting alone or in concert with one or more other persons, initiates or directs the formation of an underwriting syndicate; or (iii) is allowed a rate of gross commission, spread, or other profit greater than the rate allowed another underwriter participating in the distribution.

Source

12 USC § 371c-1(b)(3)


Scoping language

None identified. Default scope is assumed to be the entire title.
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