United States Code (Last Updated: May 24, 2014) |
Title 15. COMMERCE AND TRADE |
Chapter 2B. SECURITIES EXCHANGES |
§ 78aa–1. Special provision relating to statute of limitations on private causes of action
Latest version.
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(a) Effect on pending causes of action The limitation period for any private civil action implied under section 78j(b) of this title that was commenced on or before
June 19, 1991 , shall be the limitation period provided by the laws applicable in the jurisdiction, including principles of retroactivity, as such laws existed onJune 19, 1991 .(b) Effect on dismissed causes of action Any private civil action implied under section 78j(b) of this title that was commenced on or before June 19, 1991 —(1) which was dismissed as time barred subsequent to June 19, 1991 , and(2) which would have been timely filed under the limitation period provided by the laws applicable in the jurisdiction, including principles of retroactivity, as such laws existed on June 19, 1991 ,shall be reinstated on motion by the plaintiff not later than 60 days after December 19, 1991 .
(June 6, 1934, ch. 404, title I, § 27A, as added Pub. L. 102–242, title IV, § 476, Dec. 19, 1991 , 105 Stat. 2387.)
Constitutionality
For information regarding constitutionality of certain provisions of section 27A of act