Examlex
Garret and Hans own all the stock of GH Corporation. Garret sells all his GH stock to Olga on February 12. The next day, GH makes an S election. For the election to apply to the current year, who must consent to the election?
Liability
The condition of being accountable for certain actions, particularly in the context of legal or monetary commitments.
Federal Securities Acts
Laws enacted by the U.S. federal government designed to regulate the securities industry and protect investors from fraudulent practices.
Significant Losses
Large or impactful financial, material, or reputational reductions experienced by individuals, organizations, or entities.
Private Securities Litigation Reform Act
A 1995 United States federal law that increased the standards for initiating securities fraud litigation to protect companies from frivolous lawsuits.
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