Securities Lawyer's Deskbook
                         published by The University of Cincinnati College of Law
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General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934





Rule 16b-5 -- Bona Fide Gifts and Inheritance


Both the acquisition and the disposition of equity securities shall be exempt from the operation of Section 16(b) of the Act if they are:
  1. bona fide gifts; or

  2. transfers of securities by will or the laws of descent and distribution.

Regulatory History


56 FR 7270, Feb. 21, 1991



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