15 U.S.C. § 80A
Section 80a · Loans by management companies
Amended 2 times on record
Applied in 1 court decisions — leading case 905 F. Supp. 843 - Friedlob v. Trustees of the Alpine Mutual Fund Trust (1995)
Most recently applied in 905 F. Supp. 843 - Friedlob v. Trustees of the Alpine Mutual Fund Trust (May 1995)
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.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Amendments
1987—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 References
Unlawful transactions for registered investment companies, see section 80a–17 of this title.