(A) Any tax imposed pursuant to the provisions of this subchapter shall not apply to the making, delivering, or filing of conveyances to make effective any plan of reorganization or adjustment:
(1) Confirmed under the Federal Bankruptcy Act, as amended;
(2) Approved in an equity receivership proceeding in a court involving a railroad corporation, as defined in the United States Code, subsection (m) of § 205 of Title 11, as amended;
(3) Approved in an equity receivership proceeding in a court involving a corporation, as defined in the United States Code, subsection (3) of § 506 of Title 11, as amended; or
(4) Whereby a mere change in identity, form, or place of organization is effected.
(B) The provisions 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.
('65 Code, § 3-6.406) (Ord. 36-C.S., passed - - )