Oversubscription retention permitted allowing issuers to keep excess subscription subject to offer limits and rated size. Issuers of municipal debt securities may retain oversubscription proceeds up to 100% of the Base Issue size, provided retention does not exceed the rated size or any lower limit disclosed in the offer document; for shelf offer documents, oversubscription may be retained up to the total shelf offer size.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Oversubscription retention permitted allowing issuers to keep excess subscription subject to offer limits and rated size.
Issuers of municipal debt securities may retain oversubscription proceeds up to 100% of the Base Issue size, provided retention does not exceed the rated size or any lower limit disclosed in the offer document; for shelf offer documents, oversubscription may be retained up to the total shelf offer size.
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