15 USC § 80a–21 - Loans by management companies | LII / Legal Information Institute

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Current through Pub. L. 112-90. (See Public Laws for the current Congress.)

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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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.

Source

(Aug. 22, 1940, ch. 686, title I, § 21,54 Stat. 822; Pub. L. 100–181, title VI, § 615,Dec. 4, 1987, 101 Stat. 1262.)

Amendments

1987—Subsec. (b). Pub. L. 100–181struck 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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The most recent Classification Table update that we have noticed was Friday, April 6, 2012

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15 USC	Description of Change	Session Year	Public Law	Statutes at Large

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

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17 CFR - Title 17—Commodity and Securities Exchanges

17 CFR 270 - RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940

15 USC § 80a–21 - Loans by management companies

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