reportable policy sale
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 101 — in this section
For purposes of this paragraph, the term "reportable policy sale" means the acquisition of an interest in a life insurance contract, directly or indirectly, if the acquirer has no substantial family, business, or financial relationship with the insured apart from the acquirer's interest in such life insurance contract. For purposes of the preceding sentence, the term "indirectly" applies to the acquisition of an interest in a partnership, trust, or other entity that holds an interest in the life insurance contract.
26 U.S.C. § 6050Y — for purposes of this section
The term "reportable policy sale" has the meaning given such term in section 101(a)(3)(B).