U.S. Code » Title 15 » Chapter CHAPTER 65— LIABILITY RISK RETENTION

15 U.S.C. § 3904

Securities laws

Read at: OLRCuscode.house.gov CornellLII GovInfogovinfo.gov JustiaTitle 15 CasesGoogle Scholar
(a) Ownership interest of members in risk retention groupsThe ownership interests of members in a risk retention group shall be—(1) considered to be exempted securities for purposes of section 5 of the Securities Act of 1933 [15 U.S.C. 77e] and for purposes of section 12 of the Securities Exchange Act of 1934 [15 U.S.C. 78l]; and(2) considered to be securities for purposes of the provisions of section 17 of the Securities Act of 1933 [15 U.S.C. 77q] and the provisions of section 10 of the Securities Exchange Act of 1934 [15 U.S.C. 78j].(b) Investment companies

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) State blue sky laws

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. 97–45, § 5, Sept. 25, 1981, 95 Stat. 952.)Editorial NotesReferences 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 this title. For complete classification of this Act to the Code, see section 80a–51 of this title and Tables.

Notes of Decisions
Cited in 1 case, 1988–1988 · leading case: Fleisher Dev. Corp. v. Home Owners Warranty Corp. Fleisher Dev. Corp. v. Home Owners Warranty Corp., 856 F.2d 1529 (D.C. Cir. 1988).
Sort: Relevance Newest Treatment
Fleisher Dev. Corp. v. Home Owners Warranty Corp. Fleisher Dev. Corp. v. Home Owners Warranty Corp., 856 F.2d 1529 (D.C. Cir. 1988). “" 15 U.S.C. § 3904 (a)(2) (1982). 4 . For reasons that we are unable to ascertain on the record before us, the District Court analyzed plaintiffs' securities law claim under section 17(a)(2) of the Securities Act of 1933, 15 U.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.