FEDERAL · 15 U.S.C. · Chapter 2D
Loans by management companies
15 U.S.C. § 80a–21
Title15 — Commerce and Trade
Chapter2D — INVESTMENT COMPANIES AND ADVISERS
SubchapterI
Current throughPub. L. 119-99
This text of 15 U.S.C. § 80a–21 (Loans by management companies) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
15 U.S.C. § 80a–21.
Text
It shall be unlawful for any registered management company to lend money or property to any person, directly or indirectly, if—
(a)the investment policies of such registered company, as recited in its registration statement and reports filed under this subchapter, do not permit such a loan; or
(b)such person controls or is under common control with such registered company; except that the provisions of this paragraph shall not apply to any loan from a registered company to a company which owns all of the outstanding securities of such registered company, except directors' qualifying shares.
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Source Credit
History
(Aug. 22, 1940, ch. 686, title I, §21, 54 Stat. 822; Pub. L. 100–181, title VI, §615, Dec. 4, 1987, 101 Stat. 1262.)
Editorial Notes
Editorial Notes
Amendments
1987—Subsec. (b). Pub. L. 100–181 struck out "to the extension or renewal of any such loan made prior to March 15, 1940, or" after "shall not apply".
Amendments
1987—Subsec. (b). Pub. L. 100–181 struck out "to the extension or renewal of any such loan made prior to March 15, 1940, or" after "shall not apply".
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Bluebook (online)
15 U.S.C. § 80a–21, Counsel Stack Legal Research, https://law.counselstack.com/usc/15/80a–21.