§ 80a–5. Subclassification of management companies
338 words·~2 min read·
/usc/title-15/section-80a-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For the purposes of this subchapter, management companies are divided into open-end and closed-end companies, defined as follows: “Open-end company” means a management company which is offering for sale or has outstanding any redeemable security of which it is the issuer. “Closed-end company” means any management company other than an open-end company. Management companies are further divided into diversified companies and non-diversified companies, defined as follows: “Diversified company” means a management company which meets the following requirements:
At least 75 per centum of the value of its total assets is represented by cash and cash items (including receivables), Government securities, securities of other investment companies, and other securities for the purposes of this calculation limited in respect of any one issuer to an amount not greater in value than 5 per centum of the value of the total assets of such management company and to not more than 10 per centum of the outstanding voting securities of such issuer. “Non-diversified company” means any management company other than a diversified company.
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. ( Aug. 22, 1940, ch. 686 , title I, § 5, 54 Stat. 800 ; Pub. L. 100–181, title VI, § 607 , Dec. 4, 1987 , 101 Stat. 1261 .)
Connections185 cite this
Cited by 185 sections · top 60
CFR
- § 230.405Definitions of terms.
- § 1010.100General definitions.
- § 210.2-01Qualifications of accountants.
- § 243.101Definitions.
- § 1024.320Reports by mutual funds of suspicious transactions.
- § 1010.653Special measures against Commercial Bank of Syria.
- § 1010.651Special measures against Burma.
- § 247.740Defined terms relating to the sweep accounts exception from the definition of "broker."
- § 247.775Exemption from the definition of "broker" for banks effecting certain excepted or exempted transactions in investment company securities.
- § 218.775Exemption from the definition of “broker” for banks effecting certain excepted or exempted transactions in investment company securities.
- § 270.5b-3Acquisition of repurchase agreement or refunded security treated as acquisition of underlying securities.
- § 270.2a-7Money market funds.
- § 218.740Defined terms relating to the sweep accounts exception from the definition of “broker.”
register
- NoticesFinal rule
- NoticesSECURITIES AND EXCHANGE COMMISSION
- Rules and RegulationsInterim final rule
- NoticesSECURITIES AND EXCHANGE COMMISSION
- Rules and RegulationsFinal rule
- NoticesSECURITIES AND EXCHANGE COMMISSION
- Proposed RulesConcept release; request for comments
- NoticesSECURITIES AND EXCHANGE COMMISSION
- Proposed RulesProposed rule
- Rules and RegulationsNotice of proposed rulemaking
- NoticesSECURITIES AND EXCHANGE COMMISSION
- NoticesFinal rule
- NoticesSECURITIES AND EXCHANGE COMMISSION
- Proposed RulesNotice of proposed rulemaking
- NoticesCOMMODITY FUTURES TRADING COMMISSION SECURITIES AND EXCHANGE COMMISSION
- Proposed RulesProposed rule
- NoticesFinal rule
- Proposed RulesProposed rule
- Rules and RegulationsFinal rule
- Rules and RegulationsNotice of proposed rulemaking
- NoticesSECURITIES AND EXCHANGE COMMISSION
- NoticesNotice and request for comments
- NoticesFinal rule
- NoticesSECURITIES AND EXCHANGE COMMISSION
- NoticesProposed rule
- Rules and RegulationsFinal rule; technical amendment
- Proposed RulesFinal rule
- NoticesSECURITIES AND EXCHANGE COMMISSION
- NoticesSECURITIES AND EXCHANGE COMMISSION
- Presidential DocumentsProposed rule
- Rules and RegulationsFinal rule
- NoticesProposed rule
- NoticesProposed rule
- NoticesProposed rule
- NoticesSECURITIES AND EXCHANGE COMMISSION
- Rules and RegulationsFinal rule
- NoticesNotice
- NoticesSECURITIES AND EXCHANGE COMMISSION
- Proposed RulesConcept release; request for comment
- NoticesSECURITIES AND EXCHANGE COMMISSION
- NoticesProposed rule
- NoticesFinal rule; request for comments on Paperwork Reduction Act burden estimates
- Rules and RegulationsSECURITIES AND EXCHANGE COMMISSION
- Rules and RegulationsFinal rule
- NoticesSECURITIES AND EXCHANGE COMMISSION
- Presidential DocumentsFinal rule
- Proposed RulesNotice of proposed rulemaking
4 references not yet in our index
- 54 Stat. 800
- Pub. L. 100-181
- 101 Stat. 1261
- 64 Stat. 1265
Citation graph
cites case law
§ 80a–5
Subclassification of management companies
Fed. Reg.×157
C.F.R.×20
Bills×7
Stat. Comp.×1
Stat.54 Stat. 800
Pub. L.Pub. L. 100-181
Stat.101 Stat. 1261
Stat.64 Stat. 1265
Cites 4Cited by 185 across 4 sources