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Code · BILL · 115th Congress · H.R. 10 (Introduced in House) — To create hope and opportunity for investors, consumers, and entrepreneurs by ending bailouts and Too Big to Fail, ho... · Sec. 831

Sec. 831. Complaint and burden of proof requirements for certain actions for breach of fiduciary duty

105 words·~1 min read·/bill/115/hr/10/ih/section-831

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Section 36(b) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–35(b) ) is amended by adding at the end the following: In any such action brought by a security holder of a registered investment company on behalf of such company— the complaint shall state with particularity all facts establishing a breach of fiduciary duty, and, if an allegation of any such facts is based on information and belief, the complaint shall state with particularity all facts on which that belief is formed; and such security holder shall have the burden of proving a breach of fiduciary duty by clear and convincing evidence. .
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  • 15 USC 80a–35(b)
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Sec. 831
Complaint and burden of proof requirements for certain actions for breach of fiduciary duty
Cite15 USC 80a–35(b)
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