October 10, 2011
- 349B Securities Regulation
- 349BI Federal Regulation
- 349BI(A) In General
- 349Bk5 Securities, What Are
- 349Bk5.11 k. Particular Interests.
Plaintiff’s payment to a private, members-only hunting preserve was for annual membership dues, which were required by the corporate by-laws and afforded plaintiff access to and use of the hunting preserve and related facilities, and thus payment was not for a “security” within the meaning of the Securities Exchange Act; plaintiff’s payment was not motivated solely by the prospects of a return on his investment.
Libaire v. Kaplan, 395 F. App’x 732 (2d Cir. 2010)
Suggested by Jessica Vosgerchian, Paralegal; Kirby McInerny LLP: New York, NY