DEPRECIATION RECAPTURE Definition

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DEPRECIATION RECAPTURE is a provision contained in the Internal Revenue Code that makes excess depreciation taken on real property subject to income tax upon the sale or disposition of the property.

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INELIGIBLE is securities not quoted on the OTCBB. A Form 211 and two copies of the issuer's information must be filed with the FINRA OTC Compliance Unit no less than three business days prior to the publication on the OTCBB in order to obtain clearance that will grant the security OTCBB eligible status.

PROXY is a person authorized to act for another, e.g. a power of attorney document given by shareholders of a corporation authorizing a specific vote on their behalf at a corporate meeting.

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