15 U.S.C. § 77hh — Assessments by Corporation on holders of foreign securities

submitted 93 years ago by ch. 38 to r/title-15-COMMERCE-AND-TRADE · 98 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Corporation may charge fees to holders of foreign securities it holds. A deposit charge cannot exceed one-fifth of one percent of the securities' face value. Later charges must relate closely to actual costs and cannot exceed one percent of face value.

The Corporation may, at its discretion, charge fees — spread proportionally among holders — on the foreign securities deposited with it. A charge collected when securities are first deposited cannot exceed one-fifth of 1 percent of the securities' face value. Any additional charges must closely match the actual cost of the Corporation's operations and negotiations, including the work described in sections 77dd and 77ee, and cannot exceed 1 percent of the securities' face value.

the actual law source: uscode.house.gov ↗public domain

The Corporation may in its discretion levy charges, assessed on a pro rata basis, on the holders of foreign securities deposited with it: Provided, That any charge levied at the time of depositing securities with the Corporation shall not exceed one fifth of 1 per centum of the face value of such securities: Provided further, That any additional charges shall bear a close relationship to the cost of operations and negotiations including those enumerated in sections 77dd and 77ee of this title and shall not exceed 1 per centum of the face value of such securities.

Source credit: (May 27, 1933, ch. 38, title II, § 207, 48 Stat. 95.)

history & why it existsrecord from the source credit

1933Enacted · Act of May 27, 1933, ch. 38 · 48 Stat. 95

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

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