Investment In Collectibles. If a Deemed IRA established hereunder acquires collectibles within the meaning of Code Section 408(m) after December 31, 1981, assets of the Deemed IRA will be treated as a distribution in an amount equal to the cost of such collectibles.
Appears in 6 contracts
Samples: Defined Contribution Plan (Wellesley Bancorp, Inc.), Defined Contribution Plan (Savannah Bancorp Inc), Defined Contribution Plan (ASB Bancorp Inc)
Investment In Collectibles. If a Deemed IRA Trust established hereunder acquires collectibles within the meaning of Code Section 408(m) after December 31, 1981, assets of the Deemed IRA Trust will be treated as a distribution in an amount equal to the cost of such collectibles.
Appears in 1 contract
Samples: Defined Contribution Plan (1st Constitution Bancorp)
