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Michael Lykken, Esq
Michael Lykken, Esq,
Category: Business Law
Satisfied Customers: 103
Experience:  Partner at Soares & Lykken, Attorneys at Law
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Ok, so to confirm my understanding the Securities Act of

Customer Question

Ok, so to confirm my understanding the Securities Act of 1933 Section 3(4) exempts securities issued by organizations organized and operated exclusively for "religious, educational, benevolent, fraternal, charitable, or reformatory purposes..." does this specifically includes 501(c)(7) organizations?
Submitted: 1 year ago.
Category: Business Law
Expert:  Michael Lykken, Esq replied 1 year ago.

Hello, thank you for using this service for your question. My name is ***** ***** I am a licensed California attorney. Although you are in Florida, I can help you with this question because this question deals with federal law. The short answer is that, so long as your organization has been granted 501(c)(7) status by the IRS, there is no need to register the issuance of securities with the SEC. I hope this helps, and please let me know if you need any clarification. Good luck!