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The Investment Company Act of 1940 (commonly referred to as the '40 Act) is an act of Congress which regulates investment funds. It was passed as a United States Public Law ( Pub. L. 76–768 ) on August 22, 1940, and is codified at 15 U.S.C. §§ 80a-1 – 80a-64 .
Section 1 authorizes the creation of inferior courts, but does not require it; the first inferior federal courts were established shortly after the ratification of the Constitution with the Judiciary Act of 1789. Section 1 also establishes that federal judges do not face term limits, and that an individual judge's salary may not be decreased.
On February 3, 1913, with ratification of the Sixteenth Amendment, Congress gained the authority to levy an income tax without apportioning it among the states or basing it on the United States Census. The third textually entrenched provision is Article One, Section 3, Clauses 1, which provides for equal representation of the states in the Senate.
A convention to propose amendments to the United States Constitution, also referred to as an Article V Convention, state convention, [1] or amendatory convention is one of two methods authorized by Article Five of the United States Constitution whereby amendments to the United States Constitution may be proposed: on the Application of two thirds of the State legislatures (that is, 34 of the 50 ...
Article III, Section 2, Clause 1 of the Constitution states: The judicial Power shall extend to all Cases, in Law and Equity, arising under this Constitution, the Laws of the United States, and Treaties made, or which shall be made, under their Authority;—to all Cases affecting Ambassadors, other public ministers and Consuls;—to all Cases of admiralty and maritime Jurisdiction;—to ...
Title I is formally entitled the Securities Act of 1933, while title 2 is the Corporation of Foreign Bondholders Act, 1933. [3] In 1939, the Trust Indenture Act of 1939 was added as Title 3. [4] The original Title I contained 26 sections. [5] In 1980, the Small Business Issuers' Simplification Act of 1980 amended section 4.
The Presentment Clause, which is contained in Article I, Section 7, Clauses 2 and 3, provides: . Every Bill which shall have passed the House of Representatives and the Senate, shall, before it become a Law, be presented to the President of the United States: If he approve he shall sign it, but if not he shall return it, with his Objections to that House in which it shall have originated, who ...
By law (Section 2.) the president becomes the Commander in Chief of the Army and Navy, Militia of several states when called into service, has power to make treaties and appointments to office "with the Advice and Consent of the Senate," receive Ambassadors and Public Ministers, and "take care that the laws be faithfully executed" (Section 3 ...