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The Fox in the SOX ( January 2002 )
At the peak of its anti-business peak last summer, Congress passed the Sarbanes-Oxley Act of 2002. Section 402 of SOX prohibits "personal loans" to certain executives but due, in part, at least, to the speed with which the legislation was enacted, Congress failed to provide meaningful guidance as to the reach of these prohibitions to many common forms of executive compensation including, in particular, split-dollar life insurance arrangements.
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