26 U.S. Code § 1036 - Stock for stock of same corporation
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(a) General rule
No gain or loss shall be recognized if common stock in a corporation is exchanged solely for common stock in the same corporation, or if preferred stock in a corporation is exchanged solely for preferred stock in the same corporation.
(b) Nonqualified preferred stock not treated as stock
Source(Aug. 16, 1954, ch. 736, 68A Stat. 309; Pub. L. 105–34, title X, § 1014(e)(3),Aug. 5, 1997, 111 Stat. 921.)
1997—Subsecs. (b), (c). Pub. L. 105–34added subsec. (b) and redesignated former subsec. (b) as (c).
Effective Date of 1997 Amendment