AUTHORIZATION SCHEDULE is the guideline under which the subject activity is controlled and authorized. For example, expenditure spending may be controlled by amounts and the managerial level required authorizing or approving a preset trigger amount. As the amount increases over certain preset levels, higher managerial authority is required for approval.
MINORITY DISCOUNT is a discount for lack of control applicable to a minority interest.
EXEMPTED SECURITY is a security that is exempted from SEC regulations, including margin rules. Such securities include U.S. Treasury and government agency securities and municipal securities designated by the SEC.
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