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IANAL, but I believe you are misinterpreting the clause - the clause disqualifies an officer or 10% shareholder of (subparagraph G:) a corporation that is >= 50% owned by (subparagraph A:) a fiduciary (owner of the IRA).

But Thiel did not own >= 50% of PayPal.



No reads like a list where each clause there is separate so being a director or officer would be a disqualified person.


That does not make sense. Then the clause would disqualify "an officer" of anything.


No only owning shares in their IRA of the company they're directly an officer in. It's limited in scope to essentially people with significant control in a corporation.




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