Minnesota Administrative Rules

4501.0200 SECURITIES.

Subpart 1.

[Repealed, L 2018 c 119 s 34]

Subp. 2.

[Repealed, L 2018 c 119 s 34]

Subp. 3.

Holder of securities.

A "holder of securities" is an individual having an ownership interest in a security, or who is the trustee or beneficiary of a trust having an ownership in a security. An individual owning shares in a mutual fund does not have an ownership interest in underlying securities owned by the fund.

Subp. 4.

Valuation of securities.

The value of a security is its fair market value. For securities traded on national exchanges, the fair market value is the closing bid price for the security on a given date. The value of a partial interest in a security is the value of the holder's proportionate share.

Subp. 5.

Exception for charitable trusts.

Trustees of associations organized for charitable, philanthropic, religious, social service, educational, or other public use or purpose are not holders of securities owned by the associations.

Statutory Authority:

MS s 10A.02

History:

20 SR 2504; L 2018 c 119 s 34

Published Electronically:

June 29, 2018