Effective date provision Sample Clauses

Effective date provision. Section 1.1361–1(b) generally applies to taxable years of a corporation beginning on or after May 28, 1992. However, a corpora- tion and its shareholders may apply this § 1.1361–1(b) to prior taxable years. In addition, substantially nonvested stock issued on or before May 28, 1992, that has been treated as outstanding by the corporation is treated as out- standing for purposes of subchapter S, and the fact that it is substantially nonvested and no section 83(b) election has been made with respect to it will not cause the stock to be treated as a second class of stock.

Effective date provision. 1. In any instance when the employee is not actively working full-time on the date participation would otherwise have become effective, participation shall not become effective until the date the employee returns to full-time active work. However, this pro- vision shall not apply for public entities (or any individual who is a member of that pub- lic entity) when the MCHCP is replacing coverage for that public entity;