{"data":{"id":"us/17-cfr-240.16b-5","jurisdiction":"us","citation":"17 CFR 240.16b-5","heading":"b-5 Bona fide gifts and inheritance.","body":"Both the acquisition and the disposition of equity securities shall be exempt from the operation of section 16(b) of the Act if they are: (a) Bona fide gifts; or (b) transfers of securities by will or the laws of descent and distribution.","path":["Title 17—Commodity and Securities Exchanges","CHAPTER II—SECURITIES AND EXCHANGE COMMISSION","PART 240—GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"ca7984c4e3e5ff7c0a30606281feaf90698b74ed7371adc648104e7098181b08","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-240.16b-4","next":"us/17-cfr-240.16b-6"},"notice":"GroundRules: Original legal text. Not legal advice."}