28 U.S.C. § 1658 Time Limitations On the Commencement of Civil Actions Arising Under Acts of Congress

• Library: United States Statutes
• Edition: 2023
• Currency: Current through P.L. 118-34 (published on www.congress.gov on 12/26/2023), except for [P. L. 118-31]
• Year: 2023
• Citation: 28 U.S.C. § 1658

(a) Except as otherwise provided by law, a civil action arising under an Act of Congress enacted after the date of the enactment of this section may not be commenced later than 4 years after the cause of action accrues.

(b) Notwithstanding subsection (a), a private right of action that involves a claim of fraud, deceit, manipulation, or contrivance in contravention of a regulatory requirement concerning the securities laws, as defined in section 3(a)(47) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a)(47) ), may be brought not later than the earlier of-

(1) 2 years after the discovery of the facts constituting the violation; or

(2) 5 years after such violation.

Cite as 28 U.S.C. § 1658

Source: Added Pub. L. 101-650, title III, §313(a), Dec. 1, 1990, 104 Stat. 5114; amended Pub. L. 107-204, title VIII, §804(a), July 30, 2002, 116 Stat. 801.

Notes from the Office of Law Revision Counsel

current through 5/22/2023

EDITORIAL NOTES

REFERENCES IN TEXT

The date of the enactment of this section, referred to in subsec. (a), is the date of enactment of Pub. L. 101-650 which was approved Dec. 1, 1990.