qualified employer securities
Defined in 2 places across 2 titles of the United States Code.
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.
Source
- 1997–present26 U.S.C. § 664Internal Revenue Code · Charitable remainder trusts · for purposes of this section
“qualified employer securities” means common stock issued by the recipient corporation or by a parent or subsidiary of such corporation with voting power and dividend rights no less favorable than the voting power and dividend rights on other common stock issued by the issuing corporation and with voting power being exercised by the participants in the employee stock ownership plan after it is allocated to their plan accounts, and
Source
- 1994–present19 U.S.C. § 2345Customs Duties · Conditions for financial assistance · under this part