§ 1711. Limitation of actions

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1968

   Interstate Land Sales F till Disclosure Act

   Pub. L. 90–448 title XIV § 1412 · 82 Stat. 476

   Enacted · 15 U.S.C. § 1711

   Pub. L. 90–448, title XIV, § 1412, Aug. 1, 1968, 82 Stat. 596

   Source evidence

   Code source credit
   Pub. L. 90–448, title XIV, § 1412, Aug. 1, 1968, 82 Stat. 596

   Enacted provision · exact public law section
   Sec. 1412. limitation of actions No action shall be maintained to enforce any liability created under section 1410(a) or (b)(2) unless brought within one year after the discovery of the untrue statement or the omission, or after such discovery should have been made by the exercise of reasonable diligence, or, if the action is to enforce a liability created under section 1401 (b) (1), unless brought within two years after the violation upon which it is based. In no event shall any such action be brought by a purchaser more than three years after the sale or lease to such purchaser.

2. 1979

   Housing and Community Development Amendments of 1979

   Pub. L. 96–153 title IV § 406 · 93 Stat. 1101

   1. Amended · 15 U.S.C. § 1711

      Pub. L. 96–153 designated existing provisions as subsec. (a)

   2. Substituted · 15 U.S.C. § 1711

      Pub. L. 96–153 substituted provisions setting forth limitations relating to any action maintained under section 1709 of this title, for provisions setting forth limitations relating to any action maintained to enforce any liability created under section 1709(a) or (b)(2) of this title

   3. Added · 15 U.S.C. § 1711

      Pub. L. 96–153 added subsec. (b)

   Source evidence

   Code amendment note
   Pub. L. 96–153 designated existing provisions as subsec. (a), substituted provisions setting forth limitations relating to any action maintained under section 1709 of this title, for provisions setting forth limitations relating to any action maintained to enforce any liability created under section 1709(a) or (b)(2) of this title, and added subsec. (b).

   Enacted provision · exact public law section
   Sec. 406. limitation of actions Section 1412 of the Interstate Land Sales Full Disclosure Act is amended to read as follows: 15 USC 1711. “Sec. 1412. “limitation of actions (a) No action shall be maintained under section 1410 Supra. with respect to— “(1) a violation of subsection (a)(1) or (a)(2)(D) of section 1404 more than three years after the date of signing of the contract of sale or lease; or “(2) a violation of subsection (a)(2)(A), (a)(2)(B), or (a)(2)(C) of section 1404 more than three years after discovery of the violation or after discovery should have been made by the exercise of reasonable diligence. “(b) No action shall be maintained under section 1410 to enforce a right created under subsection (b), (c), (d), or (e) of section 1404 unless brought within three years after the signing of the contract or lease, notwithstanding delivery of a deed to a purchaser.”.

   Effective date note
   Amendment by Pub. L. 96–153 effective on effective date of regulations implementing such amendment, but in no case later than six months following Dec. 21, 1979, see section 410 of Pub. L. 96–153, set out as a note under section 1701 of this title.

4 of 4 references resolved to an enrolled provision