Code · STATUTE-COMPILATIONS · provide for the registration and regulation of investment companies and investment advisers, and for other purposes · Sec. 21

Sec. 21. loans

103 words·~1 min read·/statute-compilations/comps-1879/sec-21

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## Sec. 21 loans **[**80a–21**]** It shall be unlawful for any registered management company to lend money or property to any person, directly or indirectly, if— ###

(a)the investment policies of such registered company, as recited in its registration statement and reports filed under this title, do not permit such a loan; or ###

(b)such person controls or is under common control with such registered company; except that the provisions of this paragraph shall not apply to any loan from a registered company to a company which owns all of the outstanding securities of such registered company, except directors' qualifying shares.