SPECIAL-PURPOSE ENTITY Definition

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SPECIAL-PURPOSE ENTITY (SPE) is a financing vehicle that is not a substantive operating entity, usually one created for a single specified purpose. An SPE may be in the form of a corporation, trust, or partnership. Special-purpose entities have been used for several decades for asset securitization, risk sharing, and to take advantage of tax statutes.

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OVERSTATED is when something is represented as greater than is true or reasonable.

BENEFIT see TAXABLE BENEFITS.

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