Us Code § 9675 - Applicability of securities laws
Full text of Us Code United States Code § 9675 — Applicability of securities laws, with citation guidance and answers to common questions.
§ 9675. Applicability of securities laws
(a) Ownership interests
The ownership interests of members of a risk retention group shall be considered to be—
(1) exempted securities for purposes of section 77e of title 15 and for purposes of section 78l of title 15; and
(2) securities for purposes of the provisions of section 77q of title 15 and the provisions of section 78j of title 15.
(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.).
(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.
(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.)
Editorial Notes
References in Text
The 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.
CHAPTER 104—NUCLEAR SAFETY RESEARCH, DEVELOPMENT, AND DEMONSTRATION
About This Section
42 U.S.C. § 9675 is part of Title 42 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.
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