Exclusion of stock options issued by Licensee from Management Expenses.

CFR · 2024-01-01 · US · Title 13

Stock options issued by any Licensee, including a 1940 or 1980 Act Company, are not considered compensation and therefore do not count as part of a Licensee's Management Expenses.

official document · source cfr-2024 · id 13:§ 107.250