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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 15 U.S.C. § 80a47 Liability of controlling persons; preventing compliance with subchapter us united_states_code code_section 15 COMMERCE AND TRADE 2D INVESTMENT COMPANIES AND ADVISERS 80a47 15 U.S.C. § 80a47 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/s80a47 data/legal/raw/us/code/title-15/usc15.xml 7b6e7cc812de211d418bcffb80ab47e18dd074f213da4be2ec18989525769952 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 b14dcd857f85f1b3b483d38a68102efd8a4e4df29d604ec51265007c609e528d 2026-07-04 official
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15 U.S.C. § 80a47 - Liability of controlling persons; preventing compliance with subchapter

Text

(a) Procurement It shall be unlawful for any person, directly or indirectly, to cause to be done any act or thing through or by means of any other person which it would be unlawful for such person to do under the provisions of this subchapter or any rule, regulation, or order thereunder.

(b) Substantially assisting a violation For purposes of any action brought by the Commission under subsection (d) or (e) of section 80a41 of this title, any person that knowingly or recklessly provides substantial assistance to another person in violation of a provision of this subchapter, or of any rule or regulation issued under this subchapter, shall be deemed to be in violation of such provision to the same extent as the person to whom such assistance is provided.

(c) Obstructing compliance It shall be unlawful for any person without just cause to hinder, delay, or obstruct the making, filing, or keeping of any information, document, report, record, or account required to be made, filed, or kept under any provision of this subchapter or any rule, regulation, or order thereunder.

(Aug. 22, 1940, ch. 686, title I, § 48, 54 Stat. 846; Pub. L. 111203, title IX, § 929M(b), July 21, 2010, 124 Stat. 1861.)

Notes

Editorial Notes

Amendments2010—Subsecs. (b), (c). Pub. L. 111203 added subsec. (b) and redesignated former subsec. (b) as (c).

Statutory Notes and Related Subsidiaries

Effective Date of 2010 AmendmentAmendment by Pub. L. 111203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111203, set out as an Effective Date note under section 5301 of Title 12, Banks and Banking.