On December 31, 1990, the cap- Sample Clauses

On December 31, 1990, the cap- ital structure of Y corporation consists of 1,000 shares of voting common stock held three-fourths by A and one-fourth by A’s child, B. On January 15, 1991, A transfers 250 shares of common stock to Y in exchange for 300 shares of nonvoting, noncumulative 8% preferred stock with a section 2701 value of zero. Assume that the fair market value of Y is $1,000,000 at the time of the exchange and that the exchange by A is for full and xxx- xxxxx consideration in moneys’ worth. How- ever, for purposes of section 2701, if a subor- dinate equity interest is transferred in ex- change for an applicable retained interest, consideration in the exchange is determined with reference to the section 2701 value of the senior interest. Thus, A is treated as transferring the common stock to the cor- poration for no consideration. Immediately after the transfer, B is treated as holding one-third (250/750) of the common stock and A is treated as holding two-thirds (500/750). The amount of the gift is determined as fol- lows:
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Related to On December 31, 1990, the cap-

  • By December 31, 2015, the Board will calculate the annual amount of a.i) divided by a.ii) which will form the base funding amount for the Trust;

  • Effective December 17, 2020, all provisions of this collective agreement shall be read to be gender neutral.

  • Xxxxxxxx, 121 Cal App.4th Supp. 7 (2004), CIV Code 1962 Colorado $50.00 or 5% of past due rent C.R.S. § 00-00-000 Connecticut Not defined No statute Delaware 5% of the monthly rent amount Title 25, § 5501(d) Florida Not defined No statute Georgia “All contracts for rent shall bear interest from the time the rent is due” Hawaii 8% of the monthly rent amount § 521-21(f) Idaho Not defined No statute Illinois Outside Chicago – Not defined Chicago only – $10.00 per month for the first $500.00 in monthly rent plus five percent per month for any amount in excess of $500.00 in monthly rent for the late payment of rent. No statute 5-12-140(h) Indiana Not defined No statute Iowa If the rent does not exceed $700/month, the late fee cannot exceed more than $12/day per day or $60/month. If the rent is greater than $700/month, the late cannot exceed more than $20/day or $100/month.

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