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U.S. Code as of:
01/19/04
Section 1820a. Examination of investment companies
(a) Exclusive Commission authority
Except as provided in subsection (c) of this section, 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.
(b) Examination results and other information
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.
(c) Certain examinations authorized
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 section 1820(b)(4) of this title,
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.
(d) Definitions
For purposes of this section, the following definitions shall
apply:
(1) Bank holding company
The term "bank holding company" has the meaning given the term
in section 1841 of this title.
(2) Commission
The term "Commission" means the Securities and Exchange
Commission.
(3) Corporation
The term "Corporation" means the Federal Deposit Insurance
Corporation.
(4) Federal banking agency
The term "Federal banking agency" has the meaning given the
term in section 1813(z) of this title.
(5) Insured depository institution
The term "insured depository institution" has the meaning given
the term in section 1813(c) of this title.
(6) Registered investment company
The term "registered investment company" means an investment
company that is registered with the Commission under the
Investment Company Act of 1940 [15 U.S.C. 80a-1 et seq.].
(7) Savings and loan holding company
The term "savings and loan holding company" has the meaning
given the term in section 1467a(a)(1)(D) of this title.
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