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>
50 lines
2.3 KiB
Markdown
50 lines
2.3 KiB
Markdown
---
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type: "LegalText"
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title: "42 U.S.C. § 9675"
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description: "Applicability of securities laws"
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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: 42
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title_name: "THE PUBLIC HEALTH AND WELFARE"
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chapter_number: "103"
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chapter_name: "COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION, AND LIABILITY"
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section: "9675"
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citation: "42 U.S.C. § 9675"
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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_usc42@119-100.zip"
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source_identifier: "/us/usc/t42/s9675"
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source_file: "data/legal/raw/us/code/title-42/usc42.xml"
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source_hash: "ea711bb92747f4767532d397ff391d9b437af712d5b52c471d39d1dcece79eb3"
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raw_snapshot_hash: "644321055a08eb1f260a6a3e31ac157fa024756abf612a9fd6857e7e400cf24e"
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text_hash: "93155af03e747dcfdbb5f144f95792f1c5baacd54532ab0c0dc2f51f03faf76d"
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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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# 42 U.S.C. § 9675 - Applicability of securities laws
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## Text
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(a) Ownership interests The ownership interests of members of a risk retention group shall be considered to be—
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(1) exempted securities for purposes of section 77e of title 15 and for purposes of section 78l of title 15; and
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(2) securities for purposes of the provisions of section 77q of title 15 and the provisions of section 78j of title 15.
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(b) Investment Company Act A risk retention group shall not be considered to be an investment company for purposes of the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.).
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(c) Blue sky law The ownership interests of members in a risk retention group shall not be considered securities for purposes of any State blue sky law.
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(Pub. L. 96–510, title IV, § 405, as added Pub. L. 99–499, title II, § 210(a), formerly § 210, Oct. 17, 1986, 100 Stat. 1719; renumbered § 210(a), Pub. L. 99–563, § 11(c)(1), Oct. 27, 1986, 100 Stat. 3177.)
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## Notes
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Editorial Notes
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References in TextThe Investment Company Act of 1940, referred to in subsec. (b), is title I of act Aug. 22, 1940, ch. 686, 54 Stat. 789, which is classified generally to subchapter I (§ 80a–1 et seq.) of chapter 2D of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 80a–51 of Title 15 and Tables.
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