( SIXTY-NIN TH CONGRESS. Sass. I. Gu. 27. 1926. I3 (5) If property (as a result oi its destruction in whole or in part, m’;fg_}g',_{g,’;; mq theft oriserzure, or an exercise of therpower of requisition or con- ¤¤¤v¤¤»¤ mw eww demnation, or the threat or-eimminence thereof) is compulsorily "“"’°""°°"‘ or involuntarily converted into pro rty similar or related in service or use to the property so convertegior into money which is forth- with rn good faith, under regulations prescribed by the Commis- sionergs{itgi1(the(app1·0val—i0f the , expended in the aoqniitgi- rion o o erproperty ' ' r or ate in servieeor use to e property so converted, or in the acquisition) of control of a corporation owmng such other properghpr in the establishment G of a replacement fund, no gain or loss, e be If any p,,,§§,‘{,, °'* part o_ the money is not soexpended, the gain, i ( any, shall recognized, an an amount not rn excess 0 the money which 18 notsoe ne. i» —· ~”e· ·¢ » i e eriiiiere is armreeas, in ursuance or a no or rec ‘ ‘- ,,§;,,$,§°g;}¤¤·* **::2 P P Fpmu mm tion to a shareholder in a corporation a party to the reorgamzatioti, g>;;m{gm¤j‘**¤*¤·¤ ¤¤*
or securities in corporation or in another corégoration
a party to the reorgamzation, ryrthout the surrender by su share- ho der of stock or securities V1l1' such a corporation, no gain to algo distributes from the receipt of such stock or- securities shall (d $1) Ifan exchange would be within the revisions of pam ****1* 'ggfmv M if graph (1), (2), or (4) of subdivision (eb) ifrigwerenot furthe ii?Kiri¢iw·¢¤i¤dw°r`i`ii¤ act that the prtggerty received in exchangg consists not only of “°°’"°°°"°*”°‘ property permit by such paragraph to received without the recognition of gain, but of other property or<money,(then the gain, if any, to the recipient shall be recognized, but 1n an amount not in excess of the sum of such money and; the fairdnarket value °’(S3°’iF‘h§‘Y ’€§{’t’$iZ’{; not rn poems or . plan i~mg..,i or ¤~···»~·¤··,·· ¤,»· a is ( 0 H ‘ tion is wgithiri the provisions of paragraph (1) but has the effect idtgrfiigdiviwd- M of the distribution of a tunable drvrdeind,·tlien- there ehallbe taxed as a to each distributes anamount of the gain ' , T'¤0<>g¤11¢d 31¤d6Pj¤p¤}‘¤gt1Ls(§>h (1) assis {not m excess ot his ratahlg e . share of the undrstribu earnings and iproiits of the corporation ( accumulated after February 28, 19134 · he remainderyif any, of ghe gw recodinized pnder paragraph ¢(1·)_‘ehall be taxed as a gain rom eex nge0·pr0perty.l ~ ~ » - (K cw · , v (e) Ifan exchange would be within the provisiousfof paragraph ,, 'i§°‘*,,}',§§"; (8) of subdivision $:1) if it were not for the f•;ct»that the prop- ¤ ¤•<=•**¤d· erty received in exc ange not only of stock or securities permitted by such {paragraph to be received without the recognition of ain, but also 0 other property or money, then·=—— ¤ ( _‘ ~ Nowifdmdbum El) If the corporation receiving such other prggzrty ormoney <>¤r¤¤¤v¤u1¤¤¤¤- ( disttrgbutes it in pursérxhappelgf the plandof reorgm tips, no P r to e co oration· a Q recognize ’ *t e ex eibut ` · (2) If tge corporation receiving such other proiperty bxgrrioney m§ ’°°" “ does not distribute it my pursuanceof the plan p reorganization, the gain, if_any, to the corporation shall but an ( amountnot in ercess of the sum of such money an Ttlre iarr market ` I , c i r ( ’ i"”l‘i$ i$»“§‘§*;$$2§r"£§£i§tS& ”Q°€2iE§"§£“°“ E”‘§fr “3i"§Z"mg.e*“““‘i M ¤·=~· M my (1),* (5%), e (8% as (4) sf Subéivisiéu (bl ifi? ‘é@§`9i¤°¥ f<>¤fj§h¤ ight §,,,°“`,,t,.,i?'€?gi,.,t?’l‘E`$ gg thatit atgroperty received rrr exchange consists not only of property permit bygsgich paragrgph to be received without the ( of gem or , but also · 0the1·_*pr0perty(0r» money, then;10 loss e1,n11uu_‘aanvo‘rgamz,at1o1r . f¤iI§)d'iI?h°x(dl?§tIiu‘gl$uii1;1lbiimcgsgneirigglof i 1 N · sm ummm ou by or on behalf of a corporaiion a (party to tlib reorganization, of its ii$»’$?1°$§°e°iJ5?iii:¤:.$i·` stock or securities or stock or securities ina corporations party to
