15-U.S.C.-77M

§77M – Limitation of Actions

Pathway

Title 15 > Chapter 2A > Subchapter I > Section 77m

Details

• Reference: Section 77m
• Legend: §77M – Limitation of Actions
• USCode Year: 2013

Provision Content

No action shall be maintained to enforce any liability created under section 77k or 77l(a)(2) of this title unless brought within one year after the discovery of the untrue statement or the omission, or after such discovery should have been made by the exercise of reasonable diligence, or, if the action is to enforce a liability created under section 77l(a)(1) of this title, unless brought within one year after the violation upon which it is based. In no event shall any such action be brought to enforce a liability created under section 77k or 77l(a)(1) of this title more than three years after the security was bona fide offered to the public, or under section 77l(a)(2) of this title more than three years after the sale.

(May 27, 1933, ch. 38, title I, §13, 48 Stat. 84; June 6, 1934, ch. 404, title II, §207, 48 Stat. 908; Pub. L. 105–353, title III, §301(a)(3), Nov. 3, 1998, 112 Stat. 3235.)

Amendments

1998—Pub. L. 105–353 substituted 77l(a)(2) for 77l(2) in two places and 77l(a)(1) for 77l(1) in two places.

1934—Act June 6, 1934, substituted one year for two years, three years for ten years, and inserted or under section 77l(2) of this title more than three years after the sale.

U.S. Encyclopedia of Law Coverage

15-U.S.C.-1242 in the Legal Encyclopedia: Trade Law

In this entry about 15-U.S.C.-1242, find legal reference material, bibliographies and premiere content related to trade law in the American Encyclopedia of Law, presenting a comprehensive view of the United States trade law-specific issues, written by authorities in the field.

Topic Map

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