ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

15 U.S.C. § 77gggQualification of indentures covering securities not required to be registered

submitted 93 years ago by ch. 38 to r/title-15-COMMERCE-AND-TRADE · 409 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section covers indentures for securities that don't have to be registered under the Securities Act. The issuer must file a qualification application with similar information, made public by the SEC. The same effective-date and refusal-order rules that apply to registration statements apply here too.

(a) Application; information required; availability to public For a security that doesn't have to be registered under the Securities Act of 1933, and that section 77fff(a) covers despite section 77ddd, the issuer must file an application to qualify the indenture under which the security has been or will be issued. The application's form and signatures follow SEC rules. It must include the same information and documents required by section 77eee(a) — with the trustee's information in its own signed part, separate from the rest. It must also include any other information the SEC decides is needed, matching what would be required to register the security under the Securities Act of 1933. The applicant can withdraw the application any time before it takes effect. Subject to section 77uuu, the SEC must make the application's information public and give copies to anyone who asks, for a reasonable fee. (b) Filing of application An application, or an amendment to one, is treated as filed the moment the SEC receives it. (c) Applicability of other statutory provisions Section 77h and section 77eee(b) apply to every such application as if it were a registration statement filed under the Securities Act of 1933.
the actual law source: uscode.house.gov ↗public domain
(a) Application; information required; availability of information to public

In the case of any security which is not required to be registered under the Securities Act of 1933 [15 U.S.C. 77a et seq.] and to which subsection (a) of section 77fff of this title is applicable notwithstanding the provisions of section 77ddd of this title, an application for qualification of the indenture under which such security has been or is to be issued shall be filed with the Commission by the issuer of such security. Each such application shall be in such form, and shall be signed in such manner, as the Commission may by rules and regulations prescribe as necessary or appropriate in the public interest or for the protection of investors. Each such application shall include the information and documents required by subsection (a) of section 77eee of this title. The information and documents required by paragraph (1) of such subsection with respect to the person designated to act as indenture trustee shall be contained in a separate part of such application, which part shall be signed by such person. Each such application shall also include such of the other information and documents which would be required to be filed in order to register such indenture security under the Securities Act of 1933 as the Commission may by rules and regulations prescribe as necessary or appropriate in the public interest or for the protection of investors. An application may be withdrawn by the applicant at any time prior to the effective date thereof. Subject to the provisions of section 77uuu of this title, the information and documents contained in or filed with any application shall be made available to the public under such regulations as the Commission may prescribe, and copies thereof, photostatic or otherwise, shall be furnished to every applicant therefor at such reasonable charge as the Commission may prescribe.

(b) Filing of application

The filing with the Commission of an application, or of an amendment to an application, shall be deemed to have taken place upon the receipt thereof by the Commission.

(c) Applicability of other statutory provisions

The provisions of section 77h of this title and the provisions of subsection (b) of section 77eee of this title shall apply with respect to every such application, as though such application were a registration statement filed pursuant to the provisions of the Securities Act of 1933 [15 U.S.C. 77a et seq.].

Source credit: (May 27, 1933, ch. 38, title III, § 307, as added Aug. 3, 1939, ch. 411, 53 Stat. 1156; amended Pub. L. 107–123, § 7, Jan. 16, 2002, 115 Stat. 2397.)

history & why it existsrecord from the source credit
  • 1933Enacted · Act of May 27, 1933, ch. 38 · 53 Stat. 1156
  • 2002Amended · Pub. L. 107-123 · 115 Stat. 2397

A history note hasn’t been published yet. The record shows enactment by ch. 38 on 1933-05-27.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case