CITE

    15 USC Sec. 80b-15                                          01/05/2009

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS
    SUBCHAPTER II - INVESTMENT ADVISERS

HEAD

    Sec. 80b-15. Validity of contracts

STATUTE

    (a) Waiver of compliance as void
      Any condition, stipulation, or provision binding any person to
    waive compliance with any provision of this subchapter or with any
    rule, regulation, or order thereunder shall be void.
    (b) Rights affected by invalidity
      Every contract made in violation of any provision of this
    subchapter and every contract heretofore or hereafter made, the
    performance of which involves the violation of, or the continuance
    of any relationship or practice in violation of any provision of
    this subchapter, or any rule, regulation, or order thereunder,
    shall be void (1) as regards the rights of any person who, in
    violation of any such provision, rule, regulation, or order, shall
    have made or engaged in the performance of any such contract, and
    (2) as regards the rights of any person who, not being a party to
    such contract, shall have acquired any right thereunder with actual
    knowledge of the facts by reason of which the making or performance
    of such contract was in violation of any such provision.

SOURCE

    (Aug. 22, 1940, ch. 686, title II, Sec. 215, 54 Stat. 856.)

TRANSFER OF FUNCTIONS

      For transfer of functions of Securities and Exchange Commission,
    with certain exceptions, to Chairman of such Commission, see Reorg.
    Plan No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175,
    64 Stat. 1265, set out under section 78d of this title.
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