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grandfather clause |
Also found in: Legal, Financial, Encyclopedia, Wikipedia | 0.04 sec. |
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grandfather clause Any policy or rule that exempts a group of individuals, organizations, or drugs, from meeting new standards or regulations; eg when a new subspecialty board in internal medicine is created, the physicians practicing in that
area may be 'grandfathered' into the subspecialty and not required to meet residency or other educational requirements How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Commerzbank currently underwrites and deals in bank-ineligible securities through Commerzbank Capital Markets Corporation, New York, New York, pursuant to grandfather rights established by section 8(c) of the IBA. To those who still insist on term limits, I'd make a suggestion: no grandfather rights for incumbents. The duration of grandfather rights should also be reviewed. |
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