2017 US Code
Title 15 - Commerce and Trade
Chapter 2D - Investment Companies and Advisers
Subchapter I - Investment Companies
Sec. 80a-24 - Registration of securities under Securities Act of 1933
|Citation||15 U.S.C. § 80a-24 (2017)|
|Section Name||§80a–24. Registration of securities under Securities Act of 1933|
(a) Registration statement; contents
(b) Filing of three copies of advertisement, pamphlet, etc. in connection with public offering; time of filing
(c) Additional requirement for prospectuses relating to periodic payment plan certificates or face-amount certificate (d) Application of other provisions to securities of investment companies, face-amount certificate companies, and open-end companies or unit investment trust (e) Amendment of registration statements relating to securities issued by face-amount certificate companies, open-end management companies or unit investment trusts (f) Registration of indefinite amount of securities (1) Registration of securities
(2) Payment of registration fees
(3) Interest due on late payment
(4) Rulemaking authority
(g) Additional prospectuses
REFERENCES IN TEXT
The Securities Act of 1933, referred to in subsecs. (a), (c), and (e), is act May 27, 1933, ch. 38, title I, 48 Stat. 74, as amended, which is classified generally to subchapter I (§77a et seq.) of chapter 2A of this title. For complete classification of this Act to the Code, see section 77a of this title and Tables.
For the effective date of this subchapter, referred to in subsec. (c), see section 80a–52 of this title.
Section 4(3) of the Securities Act of 1933, referred to in subsec. (d), was redesignated section 4(a)(3) of that Act by Pub. L. 112–106, title II, §201(b)(1), (c)(1), Apr. 5, 2012, 126 Stat. 314, and is classified to section 77d(a)(3) of this title.AMENDMENTS
1996—Subsec. (e). Pub. L. 104–290, §203(a), substituted "For" for "(3) For", struck out "pursuant to this subsection or otherwise" before "shall be deemed the effective date of the registration statement", and struck out pars. (1) and (2) which read as follows:
"(1) A registration statement under the Securities Act of 1933 relating to a security issued by a face-amount certificate company or a redeemable security issued by an open-end management company or unit investment trust may be amended after its effective date so as to increase the securities specified therein as proposed to be offered. At the time of filing such amendment there shall be paid to the Commission a fee, calculated in the manner specified in section 6(b) of said Act, with respect to the additional securities therein proposed to be offered.
"(2) The filing of such an amendment to a registration statement under the Securities Act of 1933 shall not be deemed to have taken place unless it is accompanied by a United States postal money order or a certified bank check or cash for the amount of the fee required under paragraph (1) of this subsection."
Subsec. (f). Pub. L. 104–290, §203(b), inserted heading and amended text generally. Prior to amendment, text read as follows: "In the case of securities issued by a face-amount certificate company or redeemable securities issued by an open-end management company or unit investment trust, which are sold in an amount in excess of the number of securities included in an effective registration statement of any such company, such company may, in accordance with such rules and regulations as the Commission shall adopt as it deems necessary or appropriate in the public interest or for the protection of investors, elect to have the registration of such securities deemed effective as of the time of their sale, upon payment to the Commission, within six months after any such sale, of a registration fee of three times the amount of the fee which would have otherwise been applicable to such securities. Upon any such election and payment, the registration statement of such company shall be considered to have been in effect with respect to such shares. The Commission may also adopt rules and regulations as it deems necessary or appropriate in the public interest or for the protection of investors to permit the registration of an indefinite number of the securities issued by a face-amount certificate company or redeemable securities issued by an open-end management company or unit investment trust."
Subsec. (g). Pub. L. 104–290, §204, added subsec. (g).
1987—Subsec. (d). Pub. L. 100–181 struck out ", except a security sold or disposed of by the issuer or bona fide offered to the public prior to the effective date of this subchapter and with respect to a security so sold, disposed of, or offered, shall not apply to any new offering thereof on or after the effective date of this subchapter" at end of second sentence.
1970—Subsec. (d). Pub. L. 91–547, §13(a), substituted "section 4(3) of the Securities Act of 1933" for "the third clause of section 4(1) of the Securities Act of 1933" and struck out the comma before "if any".
Subsec. (f). Pub. L. 91–547, §13(b), added subsec. (f).
1954—Subsec. (d). Act Aug. 10, 1954, §402, inserted provision making dealer's exemption contained in third clause of section 77d(1) of this title inapplicable to transactions in the securities of investment companies that are offered to the public on a continuous basis, subject to certain exceptions.
Subsec. (e). Act Aug. 10, 1954, §403, added subsec. (e).EFFECTIVE DATE OF 1996 AMENDMENT
Pub. L. 104–290, title II, §203(c), Oct. 11, 1996, 110 Stat. 3428, provided that: "The amendments made by this section [amending this section] shall become effective on the earlier of—
"(1) 1 year after the date of enactment of this Act [Oct. 11, 1996]; or
EFFECTIVE DATE OF 1970 AMENDMENT
"(2) the effective date of final rules or regulations issued in accordance with section 24(f) of the Investment Company Act of 1940 [subsec. (f) of this section], as amended by this section."
Amendment by Pub. L. 91–547 effective Dec. 14, 1970, see section 30 of Pub. L. 91–547, set out as a note under section 80a–52 of this title.EFFECTIVE DATE OF 1954 AMENDMENT
Amendment by act Aug. 10, 1954, effective sixty days after Aug. 10, 1954, see note under section 77b of this title.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.
1 See References in Text note below.
|Publication Title||United States Code, 2012 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-24 - Registration of securities under Securities Act of 1933
|Laws In Effect As Of Date||January 12, 2018|
|Statutes at Large References||48 Stat. 74
54 Stat. 825
64 Stat. 1265
68 Stat. 689
84 Stat. 1423
101 Stat. 1262
110 Stat. 3427, 3428
126 Stat. 314
|Public Law References||Public Law 91-547, Public Law 100-181, Public Law 104-290, Public Law 112-106|