No-Action Letter to CommunitySun LLC re “Security” Definition (Interpretation)
CommunitySun, LLC No-Action Letter
August 29, 2011
The SEC Division of Corporation Finance granted to-action relief from the security registration provisions of the Securities Acts to a firm that seeks to offer and sell "real estate interests in a solar facility." The incoming letter states that the interests allow the production of "self-generated, individually owned solar electricity without installing solar panels at the property where the owner consumes electricity."
Cross References
Securities Act § 2(a)(1) (definition of "security")
Exchange Act § 3(a)(10) (definition of "security")