---
kind: "section"
citation: "15 U.S.C. § 80a–64"
title: "15"
title_heading: "Commerce and Trade"
number: "80a–64"
heading: "Preventing compliance with subchapter; liability of controlling persons"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/80a-64"
units:
  - "Chapter 2D — Investment Companies and Advisers"
  - "Subchapter I — Investment Companies"
---

# §80a–64. Preventing compliance with subchapter; liability of controlling persons


Notwithstanding the exemption set forth in [section 80a–6(f) of this title](/usc/15/80a–6.md?p=f), [section 80a–47 of this title](/usc/15/80a–47.md) shall apply to a [business development company](/usc/15/80a–2.md?p=a-48) to the same extent as if it were a registered closed-end investment [company](/usc/15/80a–2.md?p=a-8), except that the provisions of [section 80a–47(a) of this title](/usc/15/80a–47.md?p=a) shall not be construed to require any [company](/usc/15/80a–2.md?p=a-8) which is not an investment [company](/usc/15/80a–2.md?p=a-8) within the meaning of [section 80a–3(a) of this title](/usc/15/80a–3.md?p=a) to comply with the provisions of this subchapter which are applicable to a [business development company](/usc/15/80a–2.md?p=a-48) solely because such [company](/usc/15/80a–2.md?p=a-8) is a wholly-owned subsidiary of, or directly or indirectly controlled by, a [business development company](/usc/15/80a–2.md?p=a-48).


## Source credit

(Aug. 22, 1940, ch. 686, title I, § 65, as added Pub. L. 96–477, title I, § 105, Oct. 21, 1980, 94 Stat. 2289.)