Examples of Nonvoting Units in a sentence
A CT's ownership of Nonvoting Units will not constitute a violation of the prohibition against ownership of excess business holdings under section 4943 of the Code because the Company is not a “business enterprise” within the meaning of section 4943(d)(3).
Because the CT's Nonvoting Units do not constitute interests in a business enterprise, the CT's Nonvoting Units will not constitute “excess business holdings” under section 4943 of the Code.
Moreover, they found that firms with higher rates of SCHIP eligibility among employees’ dependents had lower take-up of employer coverage overall, as well as lower take- up of family coverage.
As a holder of Nonvoting Units, the CT would have a right to receive distributions only if the Company dissolves or chooses to make distributions, but the timing and amount of such distributions would be uncertain, and could not be compelled by the CT.
The CT would acquire Nonvoting Units in the Company by gift, rather than through a self-dealing transaction.