publicly offered regulated investment company

(i)The term “publicly offered regulated investment company” means a regulated investment company the shares of which are— (I)continuously offered pursuant to a public offering (within the meaning of section 4 of the Securities Act of 1933, as amended (15 U.S.C. 77ato 77aa)), (II)regularly traded on an established securities market, or (III)held by or for no fewer than 500 persons at all times during the taxable year. (ii)The Secretary may by regulation decrease the minimum shareholder requirement of clause (i)(III) in the case of regulated investment companies which experience a loss of shareholders through net redemptions of their shares.


26 USC § 67(c)(2)(B)(i)

Scoping language

None: Default is title Scope
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