15 U.S. Code § 80a–4 - Classification of investment companies

For the purposes of this subchapter, investment companies are divided into three principal classes, defined as follows:
(1) “Face-amount certificate company” means an investment company which is engaged or proposes to engage in the business of issuing face-amount certificates of the installment type, or which has been engaged in such business and has any such certificate outstanding.
(2) “Unit investment trust” means an investment company which
(A) is organized under a trust indenture, contract of custodianship or agency, or similar instrument,
(B) does not have a board of directors, and
(C) issues only redeemable securities, each of which represents an undivided interest in a unit of specified securities; but does not include a voting trust.
(3) “Management company” means any investment company other than a face-amount certificate company or a unit investment trust.

Source

(Aug. 22, 1940, ch. 686, title I, § 4,54 Stat. 799.)
Transfer of Functions

For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

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15 USCDescription of ChangeSession YearPublic LawStatutes at Large

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17 CFR - Commodity and Securities Exchanges

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

 

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