15 U.S.C. § 80B
Section 80b · Validity of contracts
Amended 1 time on record
Applied in 65 court decisions — leading case Transamerica Mortgage Advisors, Inc. v. Lewis (1979)
Most recently applied in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd. (U.S. 2026, slip opinion) (June 2026)
Any condition, stipulation, or provision binding any person to waive compliance with any provision of this subchapter or with any rule, regulation, or order thereunder shall be void.
Every contract made in violation of any provision of this subchapter and every contract heretofore or hereafter made, the performance of which involves the violation of, or the continuance of any relationship or practice in violation of any provision of this subchapter, or any rule, regulation, or order thereunder, shall be void (1) as regards the rights of any person who, in violation of any such provision, rule, regulation, or order, shall have made or engaged in the performance of any such contract, and (2) as regards the rights of any person who, not being a party to such contract, shall have acquired any right thereunder with actual knowledge of the facts by reason of which the making or performance of such contract was in violation of any such provision.
Editorial notes U.S. Code · Office of the Law Revision Counsel
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.