Us Code § 1820a - Examination of investment companies
Full text of Us Code United States Code § 1820a — Examination of investment companies, with citation guidance and answers to common questions.
§ 1820a. Examination of investment companies
(a) Exclusive Commission authority
Except as provided in subsection (c), a Federal banking agency may not inspect or examine any registered investment company that is not a bank holding company or a savings and loan holding company.
(b) Examination results and other information
The Commission shall provide to any Federal banking agency, upon request, the results of any examination, reports, records, or other information with respect to any registered investment company to the extent necessary for the agency to carry out its statutory responsibilities.
(c) Certain examinations authorized
Nothing in this section shall prevent the Corporation, if the Corporation finds it necessary to determine the condition of an insured depository institution for insurance purposes, from examining an affiliate of any insured depository institution, pursuant to its authority under section 1820(b)(4) of this title, as may be necessary to disclose fully the relationship between the insured depository institution and the affiliate, and the effect of such relationship on the insured depository institution.
(d) Definitions
For purposes of this section, the following definitions shall apply:
(1) Bank holding company
The term "bank holding company" has the meaning given the term in section 1841 of this title.
(2) Commission
The term "Commission" means the Securities and Exchange Commission.
(3) Corporation
The term "Corporation" means the Federal Deposit Insurance Corporation.
(4) Federal banking agency
The term "Federal banking agency" has the meaning given the term in section 1813(z) of this title.
(5) Insured depository institution
The term "insured depository institution" has the meaning given the term in section 1813(c) of this title.
(6) Registered investment company
The term "registered investment company" means an investment company that is registered with the Commission under the Investment Company Act of 1940 [15 U.S.C. 80a–1 et seq.].
(7) Savings and loan holding company
The term "savings and loan holding company" has the meaning given the term in section 1467a(a)(1)(D) of this title.
(Pub. L. 106–102, title I, §115, Nov. 12, 1999, 113 Stat. 1371.)
Editorial Notes
References in Text
The Investment Company Act of 1940, referred to in subsec. (d)(6), 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.
Codification
Section was enacted as part of the Gramm-Leach-Bliley Act, and not as part of the Federal Deposit Insurance Act which comprises this chapter.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as an Effective Date of 1999 Amendment note under section 24 of this title.
About This Section
12 U.S.C. § 1820a is part of Title 12 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
This section may be cited in legal writing as 12 U.S.C. § 1820a. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.
How to Read This Statute
Statutes are organized by title, chapter, section, and subsection. Pay attention to words like "shall," "may," "and," and "or," because they determine whether a requirement is mandatory or permissive and whether multiple conditions must all be met. Historical notes and amendments often appear at the end of a section.
Using This Page
This page is intended for research and educational use. Lawyers, students, journalists, and compliance professionals can use it as a starting point, but should always verify the current text through an official government source before relying on it for legal advice, filings, or compliance decisions.