§80b–15 — Title 15 Commerce and Trade | U.S. Code

Summary

Any contract term that tries to make someone give up following the rules or orders under this law is not valid. Any contract that breaks these rules, or that when carried out would keep up a practice that breaks them, has no effect for people who made or carried out the illegal contract and also for anyone who later got rights under it while knowing it broke the rules; this applies to contracts made before or after these rules.

Title 15, §80b–15

Commerce and Trade — Source: USLM XML via OLRC

(a)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)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.

Executive Documents

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, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.

§80b–15 Validity of contracts

Summary

Title 15, §80b–15

Notes & Related Subsidiaries

Executive Documents

Transfer of Functions

Transfer of Functions

Citations & Metadata