94–29, and substituted “subsections (a) and (b)” for “subsections (a) through (c)”.ġ975-Subsec. (c) provisions which were added and designated as subsec. 111–203, in introductory provisions, substituted “a person who is, or at the time of the alleged misconduct was, serving or acting” for “a person serving or acting” and “for which such person so serves or acts, or at the time of the alleged misconduct, so served or acted” for “for which such person so serves or acts”.ġ987-Subsec.
With respect to any such action the following provisions shall apply:Ģ010-Subsec. An action may be brought under this subsection by the Commission, or by a security holder of such registered investment company on behalf of such company, against such investment adviser, or any affiliated person of such investment adviser, or any other person enumerated in subsection (a) of this section who has a fiduciary duty concerning such compensation or payments, for breach of fiduciary duty in respect of such compensation or payments paid by such registered investment company or by the security holders thereof to such investment adviser or person. (b) Compensation or payments as basis of fiduciary duty civil actions by Commission or security holder burden of proof judicial consideration of director or shareholder approval persons liable extent of liability exempted transactions jurisdiction finding restriction For the purposes of this subsection, the investment adviser of a registered investment company shall be deemed to have a fiduciary duty with respect to the receipt of compensation for services, or of payments of a material nature, paid by such registered investment company or by the security holders thereof, to such investment adviser or any affiliated person of such investment adviser.
0 kommentar(er)
