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California Revenue And Taxation Code Section 66

Legal Research Home > California Lawyer > Revenue and Taxation Code > California Revenue And Taxation Code Section 66

Change in ownership does not include any of the following:
   (a) The creation, vesting, transfer, distribution, or termination
of a participant's or beneficiary's interest in an employee benefit
plan.
   (b) Any contribution of real property to an employee benefit plan.

   (c) Any acquisition by an employee benefit plan of the stock of
the employer corporation pursuant to which the employee benefit plan
obtains direct or indirect ownership or control of more than 50
percent of the voting stock of the employer corporation.
   As used in this section, the terms "employer," "employee benefit
plan," "participant," and "beneficiary" shall be defined as they are
defined in the Employee Retirement Income Security Act of 1974.

Last modified: January 12, 2009