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grandfather clause |
Also found in: Legal, Financial, Encyclopedia, Wikipedia | 0.02 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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This proposal would be effective for transfers to trusts after 2000, and a grandfather rule would apply to trusts in existence on the date of enactment. The proposal would be effective for transfers to trusts after 2000; a grandfather rule would apply to trusts in existence on the date of enactment. This grandfather rule permits partnership status for entities that meet the following requirements -- |
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