15 U.S.C. § 77iii : US Code - Section 77III: Effective time of qualification

Search 15 U.S.C. § 77iii : US Code - Section 77III: Effective time of qualification

(a) Effective time of registration or application for qualification
of indenture
The indenture under which a security has been or is to be issued
shall be deemed to have been qualified under this subchapter -
(1) when registration becomes effective as to such security; or
(2) when an application for the qualification of such indenture
becomes effective, pursuant to section 77ggg of this title.
(b) Stop orders after effective time of qualification
After qualification has become effective as to the indenture
under which a security has been or is to be issued, no stop order
shall be issued pursuant to section 77h(d) of this title,
suspending the effectiveness of the registration statement relating
to such security or of the application for qualification of such
indenture, except on one or more of the grounds specified in
section 77h of this title, or the failure of the issuer to file an
application as provided for by section 77eee(b)(2) of this title.
(c) Effect of subsequent rule or regulation on qualification
The making, amendment, or rescission of a rule, regulation, or
order under the provisions of this subchapter (except to the extent
authorized by subsection (a) of section 77nnn of this title with
respect to rules and regulations prescribed pursuant to such
subsection) shall not affect the qualification, form, or
interpretation of any indenture as to which qualification became
effective prior to the making, amendment, or rescission of such
rule, regulation, or order.
(d) Liability of trustee under qualified indenture
No trustee under an indenture which has been qualified under this
subchapter shall be subject to any liability because of any failure
of such indenture to comply with any of the provisions of this
subchapter, or any rule, regulation, or order thereunder.
(e) Power of Commission to conduct investigation
Nothing in this subchapter shall be construed as empowering the
Commission to conduct an investigation or other proceeding for the
purpose of determining whether the provisions of an indenture which
has been qualified under this subchapter are being complied with,
or to enforce such provisions.