shell company
Defined in 1 place of the United States Code.
Shell company.—The term "shell company" means a company that at the time of a transaction with an eligible privately held company—
(I) has no or nominal operations; and
(II) has—
Source
- 2022–202315 U.S.C. § 78OCommerce and Trade · Registration and regulation of brokers and dealers · under this section
The term “shell company” means a company that at the time of a transaction with an eligible privately held company—
(I) has no or nominal operations; and
(II) has—
(aa) no or nominal assets;
(bb) assets consisting solely of cash and cash equivalents; or
(cc) assets consisting of any amount of cash and cash equivalents and nominal other assets.
Source
- 2023–present15 U.S.C. § 78OCommerce and Trade · Registration and regulation of brokers and dealers · under this section