§ 80a-21. — Loans by management companies.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC80a-21]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2D--INVESTMENT COMPANIES AND ADVISERS
SUBCHAPTER I--INVESTMENT COMPANIES
Sec. 80a-21. Loans by management companies
It shall be unlawful for any registered management company to lend
money or property to any person, directly or indirectly, if--
(a) the investment policies of such registered company, as recited
in its registration statement and reports filed under this subchapter,
do not permit such a loan; or
(b) such person controls or is under common control with such
registered company; except that the provisions of this paragraph shall
not apply to any loan from a registered company to a company which owns
all of the outstanding securities of such registered company, except
directors' qualifying shares.
(Aug. 22, 1940, ch. 686, title I, Sec. 21, 54 Stat. 822; Pub. L. 100-
181, title VI, Sec. 615, Dec. 4, 1987, 101 Stat. 1262.)
Amendments
1987--Subsec. (b). Pub. L. 100-181 struck out ``to the extension or
renewal of any such loan made prior to March 15, 1940, or'' after
``shall not apply''.
Section Referred to in Other Sections
This section is referred to in sections 80a-6, 80a-17, 80a-56, 80a-
61 of this title.
