15 U.S.C. § 3904 — Securities laws
submitted 45 years ago by Pub. L. 97-45 to r/title-15-COMMERCE-AND-TRADE · 164 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
The ownership interests of members in a risk retention group shall be—
considered to be exempted securities for purposes of section 5 of the Securities Act of 1933 [15 U.S.C. 77e] and for purposes of section 12 of the Securities Exchange Act of 1934 [15 U.S.C. 78l]; and
considered to be securities for purposes of the provisions of section 17 of the Securities Act of 1933 [15 U.S.C. 77q] and the provisions of section 10 of the Securities Exchange Act of 1934 [15 U.S.C. 78j].
A risk retention group shall not be considered to be an investment company for purposes of the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.).
The ownership interests of members in a risk retention group shall not be considered securities for purposes of any State blue sky law.
Source credit: (Pub. L. 97–45, § 5, Sept. 25, 1981, 95 Stat. 952.)
- 1981Enacted · Pub. L. 97-45 · 95 Stat. 952
A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-45 on 1981-09-25.
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