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42 U.S.C. § 9675 - U.S. Code - Unannotated Title 42. The Public Health and Welfare § 9675. Applicability of securities laws

Current as of January 01, 2024 | Updated by FindLaw Staff

(a)Ownership interests

The ownership interests of members of a risk retention group shall be considered to be--

(1) exempted securities for purposes of section 77e of Title 15 and for purposes of section 78l of Title 15; and

(2) securities for purposes of the provisions of section 77q of Title 15 and the provisions of section 78j of Title 15.

(b)Investment Company Act

A risk retention group shall not be considered to be an investment company for purposes of the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.).

(c)Blue sky law

The ownership interests of members in a risk retention group shall not be considered securities for purposes of any State blue sky law.

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Cite this article: FindLaw.com - 42 U.S.C. § 9675 - U.S. Code - Unannotated Title 42. The Public Health and Welfare § 9675. Applicability of securities laws - last updated January 01, 2024 | https://codes.findlaw.com/us/title-42-the-public-health-and-welfare/42-usc-sect-9675/

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