Rule 506 under Reg D was split into 506(b) and 506(c). Anyone know why they didn't call them 506(a) and 506(b)? 

@Shafi Noss

Here's the statute: 

https://www.ecfr.gov/cgi-bin/text-idx?SID=0a94ea1a8a9ecce212ec25025efed3af&node=17:3.0.1.1.12.0.46.181&rgn=div8

In essence, Section 506(a) states that there are certain exemptions that apply if you meet the requirements under Section 506(b) and 506(c). That's the only reason. :)

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

Aha, gotcha. Thanks Chris, it's nice to be able to read it.