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15 U.S.C. 77d: Exempted transactions

Created in 1964 by Public Law 88-467. Changed by 5 later laws. No bill we track in this Congress changes it.

9 other sections of the Code cite this one, including 12 U.S.C. 24, 12 U.S.C. 1757, 15 U.S.C. 77c, 15 U.S.C. 77r, 15 U.S.C. 77ddd.

3 parts of federal rules cite it as their authority, written by Securities and Exchange Commission (3).

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    2015

    • Pub. L. 114–94, §76001(a)(1), added par. (7). (Fixing America's Surface Transportation Act" or the "FAST Act) Law text · (a)
    • Pub. L. 114–94, §76001(a)(2), redesignated subsec. (b) relating to securities offered and sold in compliance with Rule 506 of Regulation D as (c). (Fixing America's Surface Transportation Act" or the "FAST Act) Law text · (c)
    • Pub. L. 114–94, §76001(a)(3), added subsecs. (d) and (e). (Fixing America's Surface Transportation Act" or the "FAST Act) Law text · (d), (e)

    2012

    • Pub. L. 112–106, §201(b)(1), (c)(1), made identical amendments, designating existing provisions as subsec. (a). (Jumpstart Our Business Startups Act) Law text
    • Pub. L. 112–106, §401(c), which directed amendment of this section by substituting "section 77c(b)(1)" for "section 77c(b)" in par. (5), was executed by making the substitution in subsec. (a)(5) to reflect the probable intent of Congress and the amendment by Pub. L. 112–106, §201(b)… (Jumpstart Our Business Startups Act) Law text · (a)
    • Pub. L. 112–106, §302(a), which directed amendment of this section by adding par. (6) at the end, was executed by making the addition at the end of subsec. (a) to reflect the probable intent of Congress and the amendment by Pub. L. 112–106, §201(b)(1), (c)(1). See above. (Jumpstart Our Business Startups Act) Law text · (a)
    • Pub. L. 112–106, §201(c)(2), added subsec. (b) relating to securities offered and sold in compliance with Rule 506 of Regulation D under this subchapter. (Jumpstart Our Business Startups Act) Law text · (b)
    • Pub. L. 112–106, §201(b)(2), added subsec. (b) relating to offers and sales exempt under section 230.506 of title 17, Code of Federal Regulations. (Jumpstart Our Business Startups Act) Law text · (b)

    2010

    • Pub. L. 111–203 redesignated par. (6) as (5) and struck out former par. (5) which related to exemption for certain transactions involving offers or sales of one or more promissory notes directly secured by a first lien on a single parcel of real estate upon which is located a dwelli… (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (5), (6)

    1980

    • Pub. L. 96–477 added par. (6). · (6)

    1975

    • Pub. L. 94–29 added par. (5). · (5)

    1964

    • Pub. L. 88–467 substituted "shall not apply to—" for "shall not apply to any of the following transactions:" in introductory text.
    • Pub. L. 88–467 reenacted existing first provision of par. (1) and struck out second and third provisions, which are incorporated in pars. (2) and (3)(A) to (C). · (1)
    • Pub. L. 88–467 redesignated existing second provision of par. (1) as (2). Former par. (2) redesignated (4). · (2)
    • Pub. L. 88–467 redesignated existing third provision of par. (1) as (3), designated the excepted transactions as cls. (A) to (C), inserted in cl. (B) "or such shorter period as the Commission may specify by rules and regulations or order" and inserted sentence relating to the applicable p… · (3)
    • Pub. L. 88–467 redesignated former par. (2) as (4) and substituted "over-the-counter market" for "open or counter market". · (4)

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.