§ 78aaa. Short title

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. 1970

   Securities In rest or Protection Act of 1970

   Pub. L. 91–598 § 1(a) · 84 Stat. 1620

   Enacted · 15 U.S.C. § 78aaa

   (Pub. L. 91–598, § 1(a), Dec. 30, 1970, 84 Stat. 1636.)

   Source evidence

   Code source credit
   (Pub. L. 91–598, § 1(a), Dec. 30, 1970, 84 Stat. 1636.)

   Enacted provision · exact public law section
   (a) Short Title; Table of Contents.— This Act, with the following table of contents, may be cited as the “Securities In rest or Protection Act of 1970”. TABLE OF CONTENTS Sec. 1. Short title, etc. (a) Short title; table of contents. (b) Section headings. Sec. 2. Application of Securities Exchange Act of 1934. Sec. 3. Securities Investor Protection Corporation. (a) Creation. (b) Powers. (c) Board of Directors. (d) Meetings of Board. (f) Bylaws. (g) Other members. Sec. 4. SIPC Fund. (a) In general. (b) Initial required balance for fund. (c) Assessments. (d) Requirements respecting assessments and lines of credit. (e) Prior trusts; overpayments and underpayments. (f) Borrowing authority. (g) SEC loans to SIPC. (h) SEC notes issued to Treasury. (i) “Gross revenue” defined. Sec. 5. Protection of customers. (a) Determination of need of protection. (b) Court action. (c) SEC participation in proceedings. Sec. 6. Liquidation proceedings. (a) General purposes of liquidation proceeding. (b) Powers and duties of trustee. (c) Application of Bankruptcy Act. (d) Completion of open contractual commitments. (e) Notice. (f) SIPC advances to trustee. (g) Payments to customers; no proof of claim required. (h) Proof Of claim by associates and others. (i) Reports by trustee to court. (j) Effect of Act on claims. Sec. 7. SEC functions. (a) Administrative procedure. (b) Enforcement of actions. (c) Examinations and reports. (d) Financial responsibility. Sec. 8. Examining authority functions. Sec. 9. Functions of self-regulatory organizations. (a) Collecting agent. (b) Immunity. (c) Inspections. (d) Reports. (e) Consultation. (f) Financial condition of members. Sec. 10. Prohibited acts. (a) Failure to pay assessment, etc. (b) Engaging in business after appointment of trustee. (c) Embezzlement, etc., Of assets of SIPC. TABLE OF CONTENTS—Continued Sec. 11. Miscellaneous provisions. (a) Public inspection of reports. (b) Application of Act to foreign members. (c) Liability of members of SIPC. (d) Liability of SIPC and directors. (e) Advertising. (f) SIPC exempt from taxation. (g) Section 20(a) of 11)34 Act not to apply. (h) SEC study of unsafe or unsound practices. Sec. 12. Definitions.

1 of 1 references resolved to an enrolled provision