Fabio
76b8ec33a7
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>
46 lines
1.9 KiB
Markdown
46 lines
1.9 KiB
Markdown
---
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type: "LegalText"
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title: "15 U.S.C. § 80a–21"
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description: "Loans by management companies"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 15
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title_name: "COMMERCE AND TRADE"
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chapter_number: "2D"
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chapter_name: "INVESTMENT COMPANIES AND ADVISERS"
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section: "80a–21"
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citation: "15 U.S.C. § 80a–21"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip"
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source_identifier: "/us/usc/t15/s80a–21"
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source_file: "data/legal/raw/us/code/title-15/usc15.xml"
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source_hash: "bfd8865083123b1c5039e30646630e40443ca3495cfe91e94d152072e46cf691"
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raw_snapshot_hash: "6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059"
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text_hash: "2752eacc9c96f0147102f56071e84c8c8ba50c824bb33f062e5717d43eb9d8a6"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 15 U.S.C. § 80a–21 - Loans by management companies
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## Text
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It shall be unlawful for any registered management company to lend money or property to any person, directly or indirectly, if—
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(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
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(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.
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(Aug. 22, 1940, ch. 686, title I, § 21, 54 Stat. 822; Pub. L. 100–181, title VI, § 615, Dec. 4, 1987, 101 Stat. 1262.)
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## Notes
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Editorial Notes
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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”.
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