Page:United States Statutes at Large Volume 94 Part 2.djvu/1018

 94 STAT. 2296

26 USC 401. 26 USC 404. Ante, p. 2294.

PUBLIC LAW 96-477—OCT. 21, 1980

consisting solely of assets of such trusts; or any separate account the assets of whicn are derived solely from (A) contributions under pension or profit-sharing plans which meet the requirements of section 401 of the Interna Revenue Code of 1954 or the requirements for deduction of the employer's contribution under section 404(a)(2) of such Code, (B) contributions under governmental plans in connection with which interests, participations, or securities are exempted from the registration provisions of section 5 of the Securities Act of 1933 by section 3(a)(2)(C) of such Act, and (C) advances made by an insurance company in connection with the operation of such separate account.". Approved October 21, 1980.

LEGISLATIVE HISTORY: HOUSE REPORT No. 96-1341 (Comm. on Interstate and Foreign Commerce). CONGRESSIONAL RECORD, Vol. 126 (1980): Sept. 22, 23, considered and passed House. Sept. 25, considered and passed Senate, amended. Oct. 1, House concurred in Senate amendments. WEEKLY eOMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 16, No. 43: Oct. 21, Presidential statement.

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