2017 US Code
Title 15 - Commerce and Trade
Chapter 2A - Securities and Trust Indentures
Subchapter I - Domestic Securities
Sec. 77m - Limitation of actions
| 15 U.S.C. § 77m (2017) |
| §77m. Limitation of actions |
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No action shall be maintained to enforce any liability created under section 77k or 77l(a)(2) of this title unless brought within one year after the discovery of the untrue statement or the omission, or after such discovery should have been made by the exercise of reasonable diligence, or, if the action is to enforce a liability created under section 77l(a)(1) of this title, unless brought within one year after the violation upon which it is based. In no event shall any such action be brought to enforce a liability created under section 77k or 77l(a)(1) of this title more than three years after the security was bona fide offered to the public, or under section 77l(a)(2) of this title more than three years after the sale. |
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(May 27, 1933, ch. 38, title I, §13, 48 Stat. 84; June 6, 1934, ch. 404, title II, §207, 48 Stat. 908; Pub. L. 105–353, title III, §301(a)(3), Nov. 3, 1998, 112 Stat. 3235.) |
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AMENDMENTS
1998—Pub. L. 105–353 substituted "77l(a)(2)" for "77l(2)" in two places and "77l(a)(1)" for "77l(1)" in two places. 1934—Act June 6, 1934, substituted "one year" for "two years", "three years" for "ten years", and inserted "or under section 77l(2) of this title more than three years after the sale". |
| United States Code, 2012 Edition, Supplement 5, Title 15 - COMMERCE AND TRADE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 15 - COMMERCE AND TRADE CHAPTER 2A - SECURITIES AND TRUST INDENTURES SUBCHAPTER I - DOMESTIC SECURITIES Sec. 77m - Limitation of actions |
| section 77m |
| 2017 |
| January 12, 2018 |
| No |
| standard |
| 48 Stat. 84, 908 112 Stat. 3235 |
| Public Law 105-353 |
