qualified employer securities

(4) Qualified employer securities For purposes of this section, the term “qualified employer securities” means employer securities (as defined in section 409( l )) which are issued by a domestic corporation— (A) which has no outstanding stock which is readily tradable on an established securities market, and (B) which has only 1 class of stock.


26 USC § 664(g)(4)

Scoping language

For purposes of this section
Is this correct? or