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<br />"Section 32.44. <br /> <br />Any tax imposed pursuant to this article <br /> <br />shall not apply to any transfer made solely to secure a debt; <br /> <br />provided, however, that nothing herein contained shall be <br /> <br />deemed to exclude the amount of any such indebtedness from <br /> <br />being included in the 'value of the consideration,' pursuant <br /> <br />to the second paragraph of Section 32.41, in connection with <br /> <br />transfers which are not made solely to secure a debt. <br /> <br />"Section 32.45. <br /> <br />Any tax imposed pursuant to this article <br /> <br />shall not apply with respect to any transfer to a beneficiary <br /> <br />or mortgagee which is taken in lieu of a foreclosure. <br /> <br />Any transfer to which the United States <br /> <br />"Section 32.46. <br /> <br />or any agency or instrumentality thereof, any state or territory, <br /> <br />or political subdivision thereof, is a party shall be exempt <br /> <br />from any tax imposed pursuant to this article when the exempt <br /> <br />agency is acquiring title. <br /> <br />Any tax imposed pursuant to this article <br /> <br />"Section 32.47. <br /> <br />shall not apply to the making, delivering or filing of convey- <br /> <br />ances to make effective any plan of reorganization or adjustment: <br /> <br />" (a) <br /> <br />Confirmed under the Federal Bankruptcy Act, as <br />amended; <br /> <br />"(b) <br /> <br />Approved in an equity receivership proceeding in <br />a êourt involving a railroad corporation, as defined <br />in subdivision (m) of Section 205 of Title II of <br />the United States Code, as amended; <br /> <br />" (c) <br /> <br />Approved in an equity receivership proceeding in a court <br />involving a corporation, as defined in subdivision <br />(3) of Section 506 of Title II of the United States <br />Code, as amended; or <br /> <br />"(d) <br /> <br />Whereby a mere change in identity, form or place <br />of organization is effected. <br /> <br />"Subdivisions (a) to (d), inclusive, of this section <br /> <br />shall only apply if the making, delivery or filing of instruments <br /> <br />of transfer or conveyances occurs within five years from the <br /> <br />date of such confirmation, approval or change. <br /> <br />-3- <br />