### Question
How does the law define qualified institutional buyer?


### Answer
Under *15 U.S.C. § 78c*, **qualified institutional buyer** is defined as:

> given such term in section 230.144A(a) of title 17, Code of Federal Regulations, or any successor thereto.

#### Citation:
  - *15 U.S.C. § 78c*
  - Heading: **CHAPTER 2B-SECURITIES EXCHANGES**

