Code · BILL · 115th Congress · S. 2765 (Engrossed in Senate) — To amend the Investment Advisers Act of 1940 to exempt investment advisers who solely advise certain rural business i... · Sec. 3

Sec. 3. Relationship to State law

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 203A(b)(1) of the Investment Advisers Act of 1940 (15 U.S.C. 80b–3a(b)(1)) is amended— in subparagraph (C), by striking the period at the end and inserting ; or ; and by adding at the end the following: that is not registered under section 203 because that person is exempt from registration as provided in subsection (b)(8) of such section, or is a supervised person of such person. .

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15 USC 80b–3a(b)(1)

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Sec. 3

Relationship to State law

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