15 U.S.C. § 77N
Section 77n · Contrary stipulations void
This is § 14 of the Securities Act of 1933
Amended 1 time on record
Applied in 166 court decisions — leading case Ernst & Ernst v. Hochfelder (1976)
Most recently applied in Noelle Lee v. Robert Fisher (June 2023)
Cases citing this section usually also cite 15 U.S.C. § 78C · 15 U.S.C. § 78J · 15 U.S.C. § 78A
Any condition, stipulation, or provision binding any person acquiring any security to waive compliance with any provision of this subchapter or of the rules and regulations of the Commission shall be void.
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.
Cross References
Contrary stipulations void under—
Investment Advisers Act of 1940, see section 80b–15 of this title.
Investment Company Act of 1940, see section 80a–46 of this title.
Public Utility Holding Company Act of 1935, see section 79z of this title.
Securities Exchange Act of 1934, see section 78cc of this title.
Trust Indenture Act of 1939, see section 77aaaa of this title.
Rules and regulations, authority of Commission to make, amend, and rescind, see section 77s of this title.