Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section80a-10&num=0&edition=prelim
Timestamp: 2019-12-09 02:59:07
Document Index: 722790744

Matched Legal Cases: ['§ 80', '§80', '§10', '§5', '§28', '§213', '§401', '§5']

[USC02] 15 USC 80a-10: Affiliations or interest of directors, officers, and employees
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15 USC 80a-10: Affiliations or interest of directors, officers, and employees Text contains those laws in effect on December 7, 2019
§80a–10. Affiliations or interest of directors, officers, and employees
(a) Interested persons of company who may serve on board of directors
No registered investment company shall-
Notwithstanding subsections (a) and (b)(2) of this section, a registered investment company may have a board of directors all the members of which, except one, are interested persons of the investment adviser of such company, or are officers or employees of such company, if-
If by reason of the death, disqualification, or bona fide resignation of any director or directors, the requirements of the foregoing provisions of this section or of section 80a–15(f)(1) of this title in respect of directors shall not be met by a registered investment company, the operation of such provision shall be suspended as to such registered company-
(Aug. 22, 1940, ch. 686, title I, §10, 54 Stat. 806 ; Pub. L. 91–547, §5, Dec. 14, 1970, 84 Stat. 1416 ; Pub. L. 94–29, §28(5), June 4, 1975, 89 Stat. 165 ; Pub. L. 106–102, title II, §213(c), Nov. 12, 1999, 113 Stat. 1398 ; Pub. L. 109–351, title IV, §401(c), Oct. 13, 2006, 120 Stat. 1973 .)
2006-Subsec. (c). Pub. L. 109–351 inserted "or any one savings and loan holding company, together with its affiliates and subsidiaries (as such terms are defined in section 1467a of title 12)," after "1841 of title 12)".
1999-Subsec. (c). Pub. L. 106–102 substituted "bank (together with its affiliates and subsidiaries) or any one bank holding company (together with its affiliates and subsidiaries) (as such terms are defined in section 1841 of title 12), except" for "bank, except".
1975-Subsec. (e). Pub. L. 94–29 inserted reference to provisions of section 80a–15(f)(1) of this title.
1970-Subsec. (a). Pub. L. 91–547, §5(a), struck out introductory text "After one year from the effective date of this subchapter" and substituted "interested persons of such registered company" for "investment advisers of, affiliated persons of an investment adviser of, or officers or employees of, such registered company".