For the purposes of this subchapter, management companies are divided into open-end and closed-end companies, defined as follows:
Management companies are further divided into diversified companies and non-diversified companies, defined as follows:
A registered diversified company which at the time of its qualification as such meets the requirements of paragraph (1) of subsection (b) shall not lose its status as a diversified company because of any subsequent discrepancy between the value of its various investments and the requirements of said paragraph, so long as any such discrepancy existing immediately after its acquisition of any security or other property is neither wholly nor partly the result of such acquisition.
15 U.S.C. § 80a-5
EDITORIAL NOTES
AMENDMENTS1987-Subsec. (a)(2). Pub. L. 100-181 substituted "Closed-end" for "Close-end".
EXECUTIVE DOCUMENTS
TRANSFER OF FUNCTIONSFor 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.