15 USC Sec. 80a-21 01/05/2009
TITLE 15 - COMMERCE AND TRADE
CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS
SUBCHAPTER I - INVESTMENT COMPANIES
Sec. 80a-21. Loans by management companies
It shall be unlawful for any registered management company to
lend money or property to any person, directly or indirectly, if -
(a) the investment policies of such registered company, as
recited in its registration statement and reports filed under this
subchapter, do not permit such a loan; or
(b) such person controls or is under common control with such
registered company; except that the provisions of this paragraph
shall not apply to any loan from a registered company to a company
which owns all of the outstanding securities of such registered
company, except directors' qualifying shares.
(Aug. 22, 1940, ch. 686, title I, Sec. 21, 54 Stat. 822; Pub. L.
100-181, title VI, Sec. 615, Dec. 4, 1987, 101 Stat. 1262.)
1987 - Subsec. (b). Pub. L. 100-181 struck out "to the extension
or renewal of any such loan made prior to March 15, 1940, or" after
"shall not apply".