Trust Indenture Act of 1939
- Trust Indenture Act of 1939
The United States Trust Indenture Act of 1939 (TIA), codified at usc|15|77aaa through usc|15|77bbbb, supplements the Securities Act of 1933 in the case of the distribution of debt securities. Generally speaking, the TIA requires the appointment of a suitably independent and qualified trustee to act for the benefit of the holders of the securities, and specifies various substantive provisions for the trust indenture that must be entered into by the issuer and the trustee. The TIA is administered by the U.S. Securities and Exchange Commission (SEC), which has made various regulations under the act.
History
Section 211 of The Securities Exchange Act of 1934 mandated that the SEC conduct various studies. Although not expressly required to study the trustee system then in use for the issuance of debt securities, SEC Chairman William O. Douglas was convinced by November 1934 that the system required legislative reform. In June, 1936, the Protective Committee Study "Trustees Under Indentures" was published.
ee also
Securities regulation in the United States
External links
* [http://www.sec.gov/about/laws/tia39.pdf Text of the TIA]
* [http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=47b43cbb88844faad586861c05c81595&rgn=div5&view=text&node=17:3.0.1.1.16&idno=17/ SEC rules under the TIA]
* [http://www.sec.gov/divisions/corpfin/forms/trustact.shtml SEC forms under TIA]
* [http://www.abanet.org/dch/committee.cfm?com=CL700000/ ABA Section of Business Law Committee on Trust Indentures and Indenture Trustees]
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Trust Indenture Act of 1939 — (TIA) USA The Trust Indenture Act of 1939, as amended, supplements the Securities Act in the case of the distribution of debt securities. Generally speaking, the TIA requires the appointment of a suitably independent and qualified trustee to act… … Law dictionary
Trust Indenture Act of 1939 — A law passed in 1939 that prohibits bond issues valued at over $5 million from being offered for sale without a formal written agreement (an indenture), signed by both the bond issuer and the bondholder, that fully discloses the particulars of… … Investment dictionary
Trust Indenture Act of 1939 — A law that requires all corporate bonds and other debt securities to be issued subject to indenture agreements and comply with certain indenture provisions approved by the SEC. Bloomberg Financial Dictionary … Financial and business terms
Trust Indenture Act — Federal Act (1939) designed to protect investors in certain types of bonds by requiring that the trust indenture be approved by the SEC and include certain protective clauses and exclude certain exculpatory clauses, and that trustees be… … Black's law dictionary
trust indenture — n: a document under which a trust (as one created by the issuer of bonds in accordance with the Trust Indenture Act of 1939) is conducted Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. trust indenture … Law dictionary
Trust Indenture Act — A federal statute of 1939 having a purpose comparable to that of other federal securities legislation, namely to afford the public protection in connection with securities. 15 USC §§ 77aaa etc … Ballentine's law dictionary
Securities Act of 1933 — Die Börsen und Aktiengesetze der Vereinigten Staaten sind die Gesetze, die die Einrichtung und den Umgang mit Börsen, Aktiengesellschaften, Aktien und sonstigen börsennotierten Finanzprodukten in den Vereinigten Staaten regeln. Inhaltsverzeichnis … Deutsch Wikipedia
TIA — Trust Indenture Act of 1939 (TIA) USA The Trust Indenture Act of 1939, as amended, supplements the Securities Act in the case of the distribution of debt securities. Generally speaking, the TIA requires the appointment of a suitably independent… … Law dictionary
SEC Form 305B2 — The application for the designation of a new trustee. SEC Form 305B2 is an initial statement filed with the SEC that contains any pre effective amendments. This form allows for a designation of a trustee under the Trust Indenture Act. This form… … Investment dictionary
U.S. Securities and Exchange Commission — Infobox Government agency agency name = U.S. Securities and Exchange Commission nativename = SEC seal width = 140px seal caption = formed = June 6, 1934 jurisdiction = Federal government of the United States headquarters = Washington, D.C.… … Wikipedia
