3 CRR-NY 11.4NY-CRR
3 CRR-NY 11.4
3 CRR-NY 11.4
11.4 Aggregation of insider transactions.
(a) Any loan or extension of credit to or on behalf of an insider or a person related to an insider shall be aggregated with the outstanding balances of (1) all other loans or extensions of credit to the insider, and (2) all other loans or extensions of credit to a person related to that insider, and (3) any loan or extension of credit to any other person where the loan or extension of credit inures to the tangible economic benefit of the insider or person related to the insider.
(b) Any purchase or sale of assets or services to, by, or on behalf of an insider or a person related to an insider shall be aggregated with the fair market value of, or payments made or to be made for, all other assets or services purchased or sold to, by, or on behalf of (1) such insider, and (2) a person related to that insider and (3) any other person where the purchase or sale inured to the tangible economic benefit of the insider or person related to the insider; provided, however, that such other assets or services shall have been purchased or sold within 12 consecutive months of the purchase or sale in question.
3 CRR-NY 11.4
Current through January 31, 2023
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.