§ 77rrr. — Effect of prescribed indenture provisions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC77rrr]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2A--SECURITIES AND TRUST INDENTURES
SUBCHAPTER III--TRUST INDENTURES
Sec. 77rrr. Effect of prescribed indenture provisions
(a) Imposed duties to control
If any provision of the indenture to be qualified limits, qualifies,
or conflicts with the duties imposed by operation of subsection (c) of
this section, the imposed duties shall control.
(b) Additional provisions
The indenture to be qualified may contain, in addition to provisions
specifically authorized under this subchapter to be included therein,
any other provisions the inclusion of which is not in contravention of
any provision of this subchapter.
(c) Provisions governing qualified indentures
The provisions of sections 77jjj to and including 77qqq of this
title that impose duties on any person (including provisions
automatically deemed included in an indenture unless the indenture
provides that such provisions are excluded) are a part of and govern
every qualified indenture, whether or not physically contained therein,
shall be deemed retroactively to govern each indenture heretofore
qualified, and prospectively to govern each indenture hereafter
qualified under this subchapter and shall be deemed retroactively to
amend and supersede inconsistent provisions in each such indenture
heretofore qualified. The foregoing provisions of this subsection shall
not be deemed to effect the inclusion (by retroactive amendment or
otherwise) in the text of any indenture heretofore qualified of any of
the optional provisions contemplated by section 77jjj(b)(1), 77kkk(b),
77nnn(d), 77ooo(a), 77ooo(b), 77ooo(d), 77ooo(e), or 77ppp(a)(1) of this
title.
(May 27, 1933, ch. 38, title III, Sec. 318, as added Aug. 3, 1939, ch.
411, 53 Stat. 1173; amended Pub. L. 101-550, title IV, Sec. 417, Nov.
15, 1990, 104 Stat. 2731.)
Amendments
1990--Subsec. (a). Pub. L. 101-550, Sec. 417(1), added subsec. (a)
and struck out former subsec. (a) which read as follows: ``The indenture
to be qualified shall provide that if any provision thereof limits,
qualifies, or conflicts with another provision which is required to be
included in such indenture by any of sections 77jjj to 77qqq of this
title, inclusive, such required provision shall control.''
Subsec. (c). Pub. L. 101-550, Sec. 417(2), added subsec. (c).
