15 U.S.C. § 80b–15: Validity of contracts

Summary

No one can force another person to give up the right to follow any rule, regulation, or order under this subchapter. Any term that tries to make someone waive those rules is not valid. Any contract that breaks these rules is not valid. It is not valid for people who made or carried out the contract, and it is not valid for anyone who got rights under the contract if they knew the facts showing the contract broke the rules.

Title 15, §80b–15

Commerce and Trade, Source: USLM XML via OLRC

(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.

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