§ 80a-4. — Classification of investment 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-4]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2D--INVESTMENT COMPANIES AND ADVISERS
SUBCHAPTER I--INVESTMENT COMPANIES
Sec. 80a-4. Classification of investment companies
For the purposes of this subchapter, investment companies are
divided into three principal classes, defined as follows:
(1) ``Face-amount certificate company'' means an investment
company which is engaged or proposes to engage in the business of
issuing face-amount certificates of the installment type, or which
has been engaged in such business and has any such certificate
outstanding.
(2) ``Unit investment trust'' means an investment company which
(A) is organized under a trust indenture, contract of custodianship
or agency, or similar instrument, (B) does not have a board of
directors, and (C) issues only redeemable securities, each of which
represents an undivided interest in a unit of specified securities;
but does not include a voting trust.
(3) ``Management company'' means any investment company other
than a face-amount certificate company or a unit investment trust.
(Aug. 22, 1940, ch. 686, title I, Sec. 4, 54 Stat. 799.)
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, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat.
1265, set out under section 78d of this title.
Section Referred to in Other Sections
This section is referred to in sections 80a-6, 80a-8, 80a-58 of this
title.
