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The law › Title 15, Commerce and Trade › Chapter 2A

15 U.S.C. 77ddd: Exempted securities and transactions

Created in 1958 by Public Law 85-699. Changed by 8 later laws. No bill we track in this Congress changes it.

3 other sections of the Code cite this one, including 15 U.S.C. 77eee, 15 U.S.C. 77fff, 15 U.S.C. 77ggg.

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

    2010

    • Pub. L. 111–203 substituted "section 2(a) of such Act" for "section 2 of such Act". (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (b)

    1998

    • Pub. L. 105–353 substituted "(13) of section" for "(14) of subsection". (Securities Litigation Uniform Standards Act of 1998) Law text · (a)

    1996

    • Pub. L. 104–290 substituted "(11), or (14)" for "or (11)". (National Securities Markets Improvement Act of 1996) Law text · (a)

    1990

    • Pub. L. 101–550, §403(1)(A), struck out par. (3) which read as follows: "any security which, prior to or within six months after August 3, 1939, has been sold or disposed of by the issuer or bona fide offered to the public, but this exemption shall not apply to any new offering of a… · (a)
    • Pub. L. 101–550, §403(1)(B), struck out ", as heretofore amended," after "1933". · (a)
    • Pub. L. 101–550, §403(2), added subsec. (d) and struck out former subsec. (d) which read as follows: "The Commission may, on application by the issuer and after opportunity for hearing thereon, by order exempt from any one or more of the provisions of this subchapter any security issue… · (d)

    1980

    • Pub. L. 96–477, §302(a), substituted "an aggregate principal amount of securities of the same issuer greater than the figure stated in section 3(b) of the Securities Act of 1933 limiting exemptions thereunder, or such lesser amount as the Commission may establish by its rules and re… · (a)
    • Pub. L. 96–477, §302(b), substituted "$10,000,000, or such lesser amount as the Commission may establish by its rules and regulations" for "$1,000,000 or less", "more than $10,000,000" for "more than $1,000,000", and inserted ", or such lesser amount as the Commission may establish … · (a)

    1970

    • Pub. L. 91–567 designated existing provisions as cl. (A) and added cl. (B). · (a)

    1966

    • Pub. L. 89–754 added par. (10). · (a)

    1960

    • Pub. L. 86–760 inserted "or on January 1, 1959, such securities were outstanding". · (c)

    1958

    • Pub. L. 85–699 added subsec. (e). · (e)

    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.