{"identifier":"/us/usc/t15/s80b\u20138","title":15,"num":"\u00a7\u202f80b\u20138.","heading":"General prohibitions","text":"\u00a7\u202f80b\u20138.\nGeneral prohibitions\n(a)\nRepresentations of sponsorship by United States or agency thereof\nIt shall be unlawful for any person registered under\nsection 80b\u20133 of this title\n(b)\nStatement of registration under Securities Exchange Act of 1934 provisions\nNo provision of subsection (a) shall be construed to prohibit a statement that a person is registered under this subchapter or under the Securities Exchange Act of 1934 [\n15 U.S.C. 78a\n(c)\nUse of name \u201cinvestment counsel\u201d as descriptive of business\nIt shall be unlawful for any person registered under\nsection 80b\u20133 of this title\n(d)\nUse of indirect means to do prohibited act\nIt shall be unlawful for any person indirectly, or through or by any other person, to do any act or thing which it would be unlawful for such person to do directly under the provisions of this subchapter or any rule or regulation thereunder.","url":"https://projectusc.org/usc/t15/s80b\u20138.html","content":[{"t":"sec","id":"/us/usc/t15/s80b\u20138","children":[{"t":"num","text":"\u00a7\u202f80b\u20138."},{"t":"heading","text":"General prohibitions"},{"t":"subsec","id":"/us/usc/t15/s80b\u20138/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Representations of sponsorship by United States or agency thereof"},{"t":"content","children":[{"t":"p","text":"It shall be unlawful for any person registered under ","children":[{"t":"ref","text":"section 80b\u20133 of this title","href":"/us/usc/t15/s80b\u20133","tail":" to represent or imply in any manner whatsoever that such person has been sponsored, recommended, or approved, or that his abilities or qualifications have in any respect been passed upon by the United States or any agency or any officer thereof."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s80b\u20138/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Statement of registration under Securities Exchange Act of 1934 provisions"},{"t":"content","children":[{"t":"p","text":"No provision of subsection (a) shall be construed to prohibit a statement that a person is registered under this subchapter or under the Securities Exchange Act of 1934 [","children":[{"t":"ref","text":"15 U.S.C. 78a","href":"/us/usc/t15/s78a","tail":" et seq.], if such statement is true in fact and if the effect of such registration is not misrepresented."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s80b\u20138/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Use of name \u201cinvestment counsel\u201d as descriptive of business"},{"t":"content","children":[{"t":"p","text":"It shall be unlawful for any person registered under ","children":[{"t":"ref","text":"section 80b\u20133 of this title","href":"/us/usc/t15/s80b\u20133","tail":" to represent that he is an investment counsel or to use the name \u201cinvestment counsel\u201d as descriptive of his business unless (1) his or its principal business consists of acting as investment adviser, and (2) a substantial part of his or its business consists of rendering investment supervisory services."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s80b\u20138/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Use of indirect means to do prohibited act"},{"t":"content","children":[{"t":"p","text":"It shall be unlawful for any person indirectly, or through or by any other person, to do any act or thing which it would be unlawful for such person to do directly under the provisions of this subchapter or any rule or regulation thereunder.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}