§ 78aa-1. — Special provision relating to statute of limitations on private causes of action.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC78aa-1]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2B--SECURITIES EXCHANGES
Sec. 78aa-1. Special provision relating to statute of
limitations on private causes of action
(a) Effect on pending causes of action
The limitation period for any private civil action implied under
section 78j(b) of this title that was commenced on or before June 19,
1991, shall be the limitation period provided by the laws applicable in
the jurisdiction, including principles of retroactivity, as such laws
existed on June 19, 1991.
(b) Effect on dismissed causes of action
Any private civil action implied under section 78j(b) of this title
that was commenced on or before June 19, 1991--
(1) which was dismissed as time barred subsequent to June 19,
1991, and
(2) which would have been timely filed under the limitation
period provided by the laws applicable in the jurisdiction,
including principles of retroactivity, as such laws existed on June
19, 1991,
shall be reinstated on motion by the plaintiff not later than 60 days
after December 19, 1991.
(June 6, 1934, ch. 404, title I, Sec. 27A, as added Pub. L. 102-242,
title IV, Sec. 476, Dec. 19, 1991, 105 Stat. 2387.)
