SEC. 21.9.6. EXEMPTIONS – BANKRUPTCY, RECEIVERSHIP, ETC.

   Any tax imposed pursuant to this article shall not apply to the making, delivering or filing of conveyances to make effective any plan of reorganization or adjustment:

   (a)   Confirmed under the Federal Bankruptcy Act, as amended;

   (b)   Approved in an equity receivership proceeding in a court involving a railroad corporation, as defined in Subdivision (m) of Sec. 205 of Title 11 of the United States Code, as amended;

   (c)   Approved in an equity receivership proceeding in a court involving a corporation, as defined in Subdivision (3) of Sec. 506 of Title 11 of the United States Code, as amended; or

   (d)   Whereby a mere change in identity, form or place of organization is effected.

   Subdivisions (a) to (d), inclusive, of this section shall only apply if the making, delivery or filing of instruments of transfer or conveyances occurs within five years from the date of such confirmation, approval or change.

SEC. 21.9.7. EXEMPTIONS – ORDERS OF S.E.C.

   Any tax imposed pursuant to this article shall not apply to the making or delivery of conveyances to make effective any order of the Securities and Exchange Commission, as defined in Subdivision (a) of Sec. 1083 of the Internal Revenue Code of 1954; but only if:

   (a)   The order of the Securities and Exchange Commission in obedience to which such conveyance is necessary or appropriate to effectuate the provisions of Sec. 79k of Title 15 of the United States Code, relating to the Public Utility Holding Company Act of 1935;

   (b)   Such order specifies the property which is ordered to be conveyed;

   (c)   Such conveyance is made in obedience to such order.

SEC. 21.9.8. EXEMPTION – CERTAIN PARTNERSHIP TRANSFERS.

   (a)   In the case of any realty held by a partnership, no levy shall be imposed pursuant to this article by reason of any transfer of an interest in a partnership or otherwise, if:

   (1)   Such partnership (or another partnership) is considered a continuing partnership within the meaning of Sec. 708 of the Internal Revenue Code of 1954; and

   (2)   Such continuing partnership continues to hold the realty concerned.

   (b)   If there is a termination of any partnership within the meaning of Sec. 708 of the Internal Revenue Code of 1954, for purposes of this article, such partnership shall be treated as having executed an instrument whereby there was conveyed, for fair market value (exclusive of the value of any lien or encumbrance remaining thereon), all realty held by such partnership at the time of such termination.

   (c)   Not more than one tax shall be imposed pursuant to this article by reason of a termination described in Subdivision (b), and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination.

SEC. 21.9.9. RECORDER ADMINISTERS.

   (Amended by Ord. No. 166,976, Eff. 7/3/91, Oper. 7/1/91.)

   The County Recorder shall administer this article in conformity with the provisions of Part 6.7 of Division 2 of the Revenue and Taxation Code and the provisions of any County ordinance adopted pursuant thereto. The Director of Finance of the City of Los Angeles is authorized to negotiate and enter into a contract with the County of Los Angeles or one of its officials for the administration of this article and payment to the County for its costs of administration.

SEC. 21.9.10. REFUNDS.

   Claims for refund of taxes imposed pursuant to this article shall be governed by the provisions of Chapter 5 (commencing with Section 5096) of Part 9 of Division 1 of the Revenue and Taxation Code of the State of California.