Notice: The uscode.house.gov website is currently operating in a temporary format. While the United States Code remains available from its authoritative source, some website features and functionality are temporarily unavailable.
The United States Code Online is current through Public Law 119-120 (October 7, 2026).
Search & Browse Currency and Updating Classification Tables Popular Name Tool Positive Law Codification Editorial Reclassification Downloads
15 U.S.C. 80b–15: Validity of contractsText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 15-COMMERCE AND TRADECHAPTER 2D-INVESTMENT COMPANIES AND ADVISERS

§80b–15. Validity of contracts

(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.

( Aug. 22, 1940, ch. 686 , title II, § 215, 54 Stat. 856 .)

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.