15 U.S.C. § 78nn: Tennessee Valley Authority

Summary

Starting with its annual report on Form 10–K for fiscal year 2006 and every year after, the Tennessee Valley Authority must file with the SEC the same regular, current, and extra reports and documents it would have to file under section 78m if it were an issuer with registered securities under section 78l. However, TVA does not have to register any securities and will not be treated as having registered securities. Also starting then, TVA will be treated as an issuer for purposes of section 78j–1, except for subsections (m)(1) and (m)(3) of that section. TVA does not have to follow exchange or association rules made in response to section 78j–1(m)(1). Nothing here reduces the TVA Board’s powers under the Tennessee Valley Authority Act of 1933 (16 U.S.C. 831 et seq.).

Title 15, §78nn

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(a)In general

Commencing with the issuance by the Tennessee Valley Authority of an annual report on Commission Form 10–K (or any successor thereto) for fiscal year 2006 and thereafter, the Tennessee Valley Authority shall file with the Commission, in accordance with such rules and regulations as the Commission has prescribed or may prescribe, such periodic, current, and supplementary information, documents, and reports as would be required pursuant to section 78m of this title if the Tennessee Valley Authority were an issuer of a security registered pursuant to section 78l of this title. Notwithstanding the preceding sentence, the Tennessee Valley Authority shall not be required to register any securities under this chapter, and shall not be deemed to have registered any securities under this chapter.

(b)Limited treatment as issuer

Commencing with the issuance by the Tennessee Valley Authority of an annual report on Commission Form 10–K (or any successor thereto) for fiscal year 2006 and thereafter, the Tennessee Valley Authority shall be deemed to be an issuer for purposes of section 78j–1 of this title, other than for subsection (m)(1) or (m)(3) of section 78j–1 of this title. The Tennessee Valley Authority shall not be required by this subsection to comply with the rules issued by any national securities exchange or national securities association in response to rules issued by the Commission pursuant to section 78j–1(m)(1) of this title.

(c)No effect on TVA authority

Nothing in this section shall be construed to diminish, impair, or otherwise affect the authority of the Board of Directors of the Tennessee Valley Authority to carry out its statutory functions under the Tennessee Valley Authority Act of 1933 [16 U.S.C. 831 et seq.].

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in subsec. (a), was in the original “this title”. See

References in Text

note set out under section 78a of this title and Codification note below. The Tennessee Valley Authority Act of 1933, referred to in subsec. (c), is act May 18, 1933, ch. 32, 48 Stat. 58, which is classified generally to chapter 12A (§ 831 et seq.) of Title 16, Conservation. For complete classification of this Act to the Code, see section 831 of Title 16 and Tables. Codification Pub. L. 108–447, which directed amendment of the Securities Exchange Act of 1934 by adding this section at the end, is reflected in the source credit above as adding this section to title I of the Securities Exchange Act of 1934, to reflect the probable intent of Congress.

§78nn Tennessee Valley Authority

Summary

Title 15, §78nn

Notes & Related Subsidiaries

Editorial Notes

References in Text

References in Text

Citations & Metadata