In determining whether the meaningful reduction test has been met (for purposes of a not essentially equivalent redemption),the most significant factor considered is a reduction in the shareholder's voting control.

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The reduction in the shareholder's voting control is the most significant factor considered in determining whether the meaningful reduction test has been met. Other factors, such as a reduction in the shareholder's equity interest or economic interest, may also be considered, but the voting control is the primary factor.

In Determining Whether the Meaningful Reduction Test Has Been Met