1999 U.S. Code
Title 15 - COMMERCE AND TRADE
CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS
SUBCHAPTER I - INVESTMENT COMPANIES
Sec. 80a-21 - Loans by management companies
View Metadata| Publication Title | United States Code, 1994 Edition, Supplement 5, Title 15 - COMMERCE AND TRADE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 15 - COMMERCE AND TRADE CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS SUBCHAPTER I - INVESTMENT COMPANIES Sec. 80a-21 - Loans by management companies |
| Contains | section 80a-21 |
| Date | 1999 |
| Laws in Effect as of Date | January 23, 2000 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Aug. 22, 1940, ch. 686, title I, §21, 54 Stat. 822; Pub. L. 100-181, title VI, §615, Dec. 4, 1987, 101 Stat. 1262. |
| Statutes at Large References | 54 Stat. 822 101 Stat. 1262 |
| Public Law References | Public Law 100-181 |
§80a–21. Loans by management companies
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.
(Aug. 22, 1940, ch. 686, title I, §21, 54 Stat. 822; Pub. L. 100–181, title VI, §615, Dec. 4, 1987, 101 Stat. 1262.)
Amendments1987—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”.
Cross ReferencesUnlawful transactions for registered investment companies, see section 80a–17 of this title.
Section Referred to in Other SectionsThis section is referred to in sections 80a–6, 80a–17, 80a–56, 80a–61 of this title.
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