
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC80b-15]

 
                      TITLE 15--COMMERCE AND TRADE
 
              CHAPTER 2D--INVESTMENT COMPANIES AND ADVISERS
 
                   SUBCHAPTER II--INVESTMENT ADVISERS
 
Sec. 80b-15. Validity of contracts


(a) Waiver of compliance as void

    Any condition, stipulation, or provision binding any person to waive 
compliance with any provision of this subchapter or with any rule, 
regulation, or order thereunder shall be void.

(b) Rights affected by invalidity

    Every contract made in violation of any provision of this subchapter 
and every contract heretofore or hereafter made, the performance of 
which involves the violation of, or the continuance of any relationship 
or practice in violation of any provision of this subchapter, or any 
rule, regulation, or order thereunder, shall be void (1) as regards the 
rights of any person who, in violation of any such provision, rule, 
regulation, or order, shall have made or engaged in the performance of 
any such contract, and (2) as regards the rights of any person who, not 
being a party to such contract, shall have acquired any right thereunder 
with actual knowledge of the facts by reason of which the making or 
performance of such contract was in violation of any such provision.

(Aug. 22, 1940, ch. 686, title II, Sec. 215, 54 Stat. 856.)

                          Transfer of Functions

    For transfer of functions of Securities and Exchange Commission, 
with certain exceptions, to Chairman of such Commission, see Reorg. Plan 
No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 
1265, set out under section 78d of this title.
