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15 U.S.C. § 77n — Contrary stipulations void

submitted 93 years ago by ch. 38 to r/title-15-COMMERCE-AND-TRADE · 32 words · no verdicts yet

in plain englishAI-generated · not legal advice

A security buyer can't be forced to give up rights under this law. Any clause trying to make them do that is void. This protects buyers no matter what a contract says.

Any condition, stipulation, or provision that binds a person buying a security to waive — that is, give up — compliance with any provision of this subchapter or of the SEC's rules and regulations is void. In other words, no contract term can strip a security buyer of the protections this subchapter and the SEC's rules provide.
the actual law source: uscode.house.gov ↗public domain

Any condition, stipulation, or provision binding any person acquiring any security to waive compliance with any provision of this subchapter or of the rules and regulations of the Commission shall be void.

Source credit: (May 27, 1933, ch. 38, title I, § 14, 48 Stat. 84.)

history & why it existsrecord from the source credit
  • 1933Enacted · Act of May 27, 1933, ch. 38 · 48 Stat. 84

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

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