Fabio
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Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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| LegalText | 15 U.S.C. § 80a–21 | Loans by management companies | us | united_states_code | code_section | 15 | COMMERCE AND TRADE | 2D | INVESTMENT COMPANIES AND ADVISERS | 80a–21 | 15 U.S.C. § 80a–21 | current | 119-100 | 2026-06-26 | official | https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip | /us/usc/t15/s80a–21 | data/legal/raw/us/code/title-15/usc15.xml | bfd8865083123b1c5039e30646630e40443ca3495cfe91e94d152072e46cf691 | 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 | 2752eacc9c96f0147102f56071e84c8c8ba50c824bb33f062e5717d43eb9d8a6 | 2026-07-04 | official |
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15 U.S.C. § 80a–21 - Loans by management companies
Text
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, § 21, 54 Stat. 822; Pub. L. 100–181, title VI, § 615, Dec. 4, 1987, 101 Stat. 1262.)
Notes
Editorial Notes
Amendments1987—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”.