15 U.S.C. 80a-3: Definition of investment company

2018

• Pub. L. 115–174, §504(1), inserted "(or, in the case of a qualifying venture capital fund, 250 persons)" after "one hundred persons" in introductory provisions. (Economic Growth, Regulatory Relief, and Consumer Protection Act) Law text · (c)
• Pub. L. 115–174, §504(2), added subpar. (C). (Economic Growth, Regulatory Relief, and Consumer Protection Act) Law text · (c)

2010

• Pub. L. 111–203 substituted "[Repealed]" for text of par. (8) which read as follows: "Any company subject to regulation under the Public Utility Holding Company Act of 1935." (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (c)

2004

• Pub. L. 108–359, which directed the substitution of "one or more of such trusts, government plans, or church plans, companies or accounts that are excluded from the definition of an investment company under paragraph (14) of this subsection" for "such trusts or government plans, or… Law text · (c)

1999

• Pub. L. 106–102 inserted ", if—" and subpars. (A) to (C) before period at end. (Gramm-Leach-Bliley Act) Law text · (c)

1998

• Pub. L. 105–353 substituted "paragraph (1)(C)" for "paragraph (3)" in introductory provisions. (Securities Litigation Uniform Standards Act of 1998) Law text · (b)

1996

• Pub. L. 104–290, §209(c)(1)–(5), designated existing introductory provisions as par. (1), redesignated former pars. (1) to (3) as subpars. (A) to (C), respectively, and designated existing concluding provisions as par. (2). (National Securities Markets Improvement Act of 1996) Law text · (a)
• Pub. L. 104–290, §209(c)(6), substituted "which (i) are" for "which are" and added cl. (ii). (National Securities Markets Improvement Act of 1996) Law text · (a)
• Pub. L. 104–290, §209(a)(1), inserted after first sentence "Such issuer shall be deemed to be an investment company for purposes of the limitations set forth in subparagraphs (A)(i) and (B)(i) of section 80a–12(d)(1) of this title governing the purchase or other acquisition by such … (National Securities Markets Improvement Act of 1996) Law text · (c)
• Pub. L. 104–290, §209(a)(2), inserted "and is or, but for the exception provided for in this paragraph or paragraph (7), would be an investment company," after "voting securities of the issuer," and struck out "unless, as of the date of the most recent acquisition by such company… (National Securities Markets Improvement Act of 1996) Law text · (c)
• Pub. L. 104–290, §209(a)(3), designated existing provisions as subpar. (A), substituted "acting as broker, and acting as market intermediary," for "and acting as broker,", and added subpar. (B). (National Securities Markets Improvement Act of 1996) Law text · (c)
• Pub. L. 104–290, §209(a)(4), added par. (7) and struck out former par. (7) "Reserved." (National Securities Markets Improvement Act of 1996) Law text · (c)
• Pub. L. 104–290, §508(a), added par. (14). (National Securities Markets Improvement Act of 1996) Law text · (c)

1995

• Pub. L. 104–62 amended par. (10) generally. Prior to amendment, par. (10) read as follows: "Any company organized and operated exclusively for religious, educational, benevolent, fraternal, charitable, or reformatory purposes, no part of the net earnings of which inures to the bene… (Philanthropy Protection Act of 1995) Law text · (c)

1987

• Pub. L. 100–181, §604, inserted "or" after "therefor;" and struck out "; or any common trust fund or similar fund, established before June 22, 1936, by a corporation which is supervised or examined by State or Federal authority having supervision over banks, if a majority of the uni… · (c)
• Pub. L. 100–181, §605, substituted "Reserved." for "Any company (A) which is subject to regulation under section 314 of title 49, except that this exception shall not apply to a company which the Commission finds and by order declares to be primarily engaged, directly or indirectly,… · (c)
• Pub. L. 100–181, §606(1), substituted "Internal Revenue Code of 1986" for "Internal Revenue Code of 1954" wherever appearing, which for purposes of codification was translated as "title 26" thus requiring no change in text. · (c)
• Pub. L. 100–181, §606(2), (3), substituted "; or any governmental plan" for "or which holds only assets of governmental plans" and "trusts or governmental plans, or both" for "trusts". · (c)

1980

• Pub. L. 96–477, §102, designated existing provisions as subpar. (A), provided that beneficial ownership was to be deemed to be that of the holders of ten per cent of company's outstanding securities, other than short term paper, unless, as of the date of the most recent acquisition … · (c)
• Pub. L. 96–477, §703, excluded from consideration as an investment company for purposes of this subchapter any employee's stock bonus, pension, or profit-sharing trust which holds only assets of governmental plans described in section 77c(a)(2)(C) of this title, redesignated former… · (c)

1976

• Pub. L. 94–210 designated existing provisions as cls. (A) and (B) and, as so designated, in cl. (A) provided for applicability to section 314 of title 49 and inserted exception to exception, in cl. (B) inserted provisions relating to companies regulated under section 314 of title 49… · (c)

1970

• Pub. L. 91–547, §3(a), inserted "in good faith" after "paragraph" in second sentence. · (b)
• Pub. L. 91–547, §3(b)(1), struck out reference to subsec. (b) in introductory text. · (c)
• Pub. L. 91–547, §3(b)(2), redesignated par. (5) as (4). See 1966 Amendment note with respect to repeal of former par. (4). · (c)
• Pub. L. 91–547, §3(b)(2), (3), redesignated par. (6) as (5) and inserted "redeemable securities," before "face-amount certificates". Former par. (5) redesignated (4). · (c)
• Pub. L. 91–547, §3(b)(2), redesignated par. (7) as (6), inserted reference to par. (4), and struck out reference to par. (6). Former par. (6) redesignated (5). · (c)
• Pub. L. 91–547, §3(b)(2), redesignated par. (9) as (7). Former par. (7) redesignated (6). · (c)
• Pub. L. 91–547, §3(b)(2), (4), redesignated par. (10) as (8), substituted "subject to regulation" for "with a registration in effect as a holding company", and struck out former par. (8) provision excluding as an investment company any company 90 per centum or more of the value of w… · (c)
• Pub. L. 91–547, §3(b)(2), redesignated pars. (11) and (12) as (9) and (10), respectively. Former pars. (9) and (10) redesignated (7) and (8). · (c), (10)
• Pub. L. 91–547, §3(b)(2), (5), redesignated par. (13) as (11), substituted "requirements for qualification under section 401 of title 26 [I.R.C. 1954]" for "conditions of section 165 of title 26, as amended [I.R. 1939]", and inserted provisions for exclusion as an investment compan… · (c)
• Pub. L. 91–547, §3(b)(2), redesignated pars. (14) and (15) as (12) and (13), respectively. Former pars. (12) and (13) redesignated (10) and (11). · (c)

1966

• Pub. L. 89–485 repealed provisions which exempt holding company affiliates granted a general voting permit by the Board of Governors of the Federal Reserve System before 1940 and any such affiliates with a later voting permit concerning which determinations were made of being primar… · (c)