Stephanie M. Birnbaum - Lexology author

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Stephanie M. Birnbaum Morrison & Foerster LLP

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Section 3(a)(2) and offerings by banks *

USA - September 9 2010
Section 3(a)(2) of the Securities Act of 1933 (the "Securities Act") exempts from registration under the Securities Act any security issued or guaranteed by a bank.

Co-authors: Lloyd S. Harmetz.