{"identifier":"/us/usc/t12/s1820a","title":12,"num":"\u00a7\u202f1820a.","heading":"Examination of investment companies","text":"\u00a7\u202f1820a.\nExamination of investment companies\n(a)\nExclusive Commission authority\nExcept as provided in subsection (c), a Federal banking agency may not inspect or examine any registered investment company that is not a bank holding company or a savings and loan holding company.\n(b)\nExamination results and other information\nThe Commission shall provide to any Federal banking agency, upon request, the results of any examination, reports, records, or other information with respect to any registered investment company to the extent necessary for the agency to carry out its statutory responsibilities.\n(c)\nCertain examinations authorized\nNothing in this section shall prevent the Corporation, if the Corporation finds it necessary to determine the condition of an insured depository institution for insurance purposes, from examining an affiliate of any insured depository institution, pursuant to its authority under\nsection 1820(b)(4) of this title\n(d)\nDefinitions\nFor purposes of this section, the following definitions shall apply:\n(1)\nBank holding company\nThe term \u201cbank holding company\u201d has the meaning given the term in\nsection 1841 of this title\n(2)\nCommission\nThe term \u201cCommission\u201d means the Securities and Exchange Commission.\n(3)\nCorporation\nThe term \u201cCorporation\u201d means the Federal Deposit Insurance Corporation.\n(4)\nFederal banking agency\nThe term \u201cFederal banking agency\u201d has the meaning given the term in\nsection 1813(z) of this title\n(5)\nInsured depository institution\nThe term \u201cinsured depository institution\u201d has the meaning given the term in\nsection 1813(c) of this title\n(6)\nRegistered investment company\nThe term \u201cregistered investment company\u201d means an investment company that is registered with the Commission under the Investment Company Act of 1940 [\n15 U.S.C. 80a\u20131\n(7)\nSavings and loan holding company\nThe term \u201csavings and loan holding company\u201d has the meaning given the term in\nsection 1467a(a)(1)(D) of this title","url":"https://projectusc.org/usc/t12/s1820a.html","content":[{"t":"sec","id":"/us/usc/t12/s1820a","children":[{"t":"num","text":"\u00a7\u202f1820a."},{"t":"heading","text":"Examination of investment companies"},{"t":"subsec","id":"/us/usc/t12/s1820a/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Exclusive Commission authority"},{"t":"content","children":[{"t":"p","text":"Except as provided in subsection (c), a Federal banking agency may not inspect or examine any registered investment company that is not a bank holding company or a savings and loan holding company.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s1820a/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Examination results and other information"},{"t":"content","children":[{"t":"p","text":"The Commission shall provide to any Federal banking agency, upon request, the results of any examination, reports, records, or other information with respect to any registered investment company to the extent necessary for the agency to carry out its statutory responsibilities.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s1820a/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Certain examinations authorized"},{"t":"content","children":[{"t":"p","text":"Nothing in this section shall prevent the Corporation, if the Corporation finds it necessary to determine the condition of an insured depository institution for insurance purposes, from examining an affiliate of any insured depository institution, pursuant to its authority under ","children":[{"t":"ref","text":"section 1820(b)(4) of this title","href":"/us/usc/t12/s1820/b/4","tail":", as may be necessary to disclose fully the relationship between the insured depository institution and the affiliate, and the effect of such relationship on the insured depository institution."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s1820a/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Definitions"},{"t":"chapeau","text":"For purposes of this section, the following definitions shall apply:"},{"t":"para","id":"/us/usc/t12/s1820a/d/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Bank holding company"},{"t":"content","children":[{"t":"p","text":"The term \u201cbank holding company\u201d has the meaning given the term in ","children":[{"t":"ref","text":"section 1841 of this title","href":"/us/usc/t12/s1841","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1820a/d/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Commission"},{"t":"content","children":[{"t":"p","text":"The term \u201cCommission\u201d means the Securities and Exchange Commission.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1820a/d/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Corporation"},{"t":"content","children":[{"t":"p","text":"The term \u201cCorporation\u201d means the Federal Deposit Insurance Corporation.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1820a/d/4","children":[{"t":"num","text":"(4)"},{"t":"heading","text":"Federal banking agency"},{"t":"content","children":[{"t":"p","text":"The term \u201cFederal banking agency\u201d has the meaning given the term in ","children":[{"t":"ref","text":"section 1813(z) of this title","href":"/us/usc/t12/s1813/z","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1820a/d/5","children":[{"t":"num","text":"(5)"},{"t":"heading","text":"Insured depository institution"},{"t":"content","children":[{"t":"p","text":"The term \u201cinsured depository institution\u201d has the meaning given the term in ","children":[{"t":"ref","text":"section 1813(c) of this title","href":"/us/usc/t12/s1813/c","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1820a/d/6","children":[{"t":"num","text":"(6)"},{"t":"heading","text":"Registered investment company"},{"t":"content","children":[{"t":"p","text":"The term \u201cregistered investment company\u201d means an investment company that is registered with the Commission under the Investment Company Act of 1940 [","children":[{"t":"ref","text":"15 U.S.C. 80a\u20131","href":"/us/usc/t15/s80a\u20131","tail":" et seq.]."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1820a/d/7","children":[{"t":"num","text":"(7)"},{"t":"heading","text":"Savings and loan holding company"},{"t":"content","children":[{"t":"p","text":"The term \u201csavings and loan holding company\u201d has the meaning given the term in ","children":[{"t":"ref","text":"section 1467a(a)(1)(D) of this title","href":"/us/usc/t12/s1467a/a/1/D","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}