§ 80a-13. Changes in investment policy
(a)
No registered investment company shall, unless authorized by the vote of a majority of its outstanding voting securities—
(1)
change its subclassification as defined in section
80a–5
(a)(1) and (2) of this title or its subclassification from a diversified to a nondiversified company;
(2)
borrow money, issue senior securities, underwrite securities issued by other persons, purchase or sell real estate or commodities or make loans to other persons, except in each case in accordance with the recitals of policy contained in its registration statement in respect thereto;
(3)
deviate from its policy in respect of concentration of investments in any particular industry or group of industries as recited in its registration statement, deviate from any investment policy which is changeable only if authorized by shareholder vote, or deviate from any policy recited in its registration statement pursuant to section
80a–8
(b)(3) of this title; or
(b)
In the case of a common-law trust of the character described in section
80a–16
(c) of this title, either written approval by holders of a majority of the outstanding shares of beneficial interest or the vote of a majority of such outstanding shares cast in person or by proxy at a meeting called for the purpose shall for the purposes of subsection (a) of this section be deemed the equivalent of the vote of a majority of the outstanding voting securities, and the provisions of paragraph (42) of section
80a–2
(a) of this title as to a majority shall be applicable to the vote cast at such a meeting.
(c)
Limitation on Actions.—
(1)
In general.—
Notwithstanding any other provision of Federal or State law, no person may bring any civil, criminal, or administrative action against any registered investment company, or any employee, officer, director, or investment adviser thereof, based solely upon the investment company divesting from, or avoiding investing in, securities issued by persons that the investment company determines, using credible information that is available to the public, conduct or have direct investments in business operations in Sudan described in section 3(d) of the Sudan Accountability and Divestment Act of 2007.