(10) However, the Fourth Circuit took a weaker position on the issue, calling the two savings clauses
the CWA's two savings clauses
did not speak directly to the issue
The mechanism to determine the allocation between donors and donees did not operate to take property back and was a valid adjustment, not an impermissible savings clause
, the court held.
In 1986, the IRS issued a revenue ruling (21) addressing impermissible formula clauses in the nature of savings clauses
. In the fact pattern of the revenue ruling, A transferred a one-half undivided interest in real property to B.
(24) Thus, the court held that the provision was valid under IRCA's savings clause
and was not preempted under implied field or conflict preemption.
What about the general savings clauses
in the securities acts mentioned above?
Of particular importance to fostering innovation and creating incentives for reduced pollution is the preservation of common law regimes through savings clauses
and linked floor preemption.
(49.) See Garry, supra note 23, at 241 (addressing ambiguous nature of OPA savings clauses
are included in documents to prevent an adverse result that otherwise might arise.
that remove the taint of usury are favored by the law and will be given effect if reasonably possible.
In subsequent cases, courts denied "savings clauses
" that provided for a portion of a gift deemed subject to gift tax to revert to the donor.
Many states have adopted savings clauses
to provide limited liability for LLC members even if the strict formalities of the state statute are not met.