15 U.S.C. § 80a–5
Subclassification of management companies
United States · Title 15 — COMMERCE AND TRADE · Status: effective
Cite this
- Citation
- 15 U.S.C. § 80a–5, Subclassification of management companies, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/440109
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Full text
For the purposes of this subchapter, management companies are divided into open-end and closed-end companies, defined as follows:
Management companies are further divided into diversified companies and non-diversified companies, defined as follows:
A registered diversified company which at the time of its qualification as such meets the requirements of paragraph (1) of subsection (b) shall not lose its status as a diversified company because of any subsequent discrepancy between the value of its various investments and the requirements of said paragraph, so long as any such discrepancy existing immediately after its acquisition of any security or other property is neither wholly nor partly the result of such acquisition.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Securities and Exchange Commission Authorization Act of 1987House: no recorded tallySenate: no recorded tally