Rules and Regulations
promulgated
under the
Investment Company Act of 1940
Rule 17d-3 -- Exemption Relating to Certain Joint Enterprises or Arrangements Concerning Payment for Distribution of Shares of a Registered Open-End Management Investment Company
An affiliated person of, or principal underwriter for, a registered open-end management
investment company and an affiliated person of such a person or principal underwriter
shall be exempt from section 17(d) of the
Act and rule 17d-1 thereunder, to the extent necessary
to permit any such person or principal underwriter to enter into a written agreement
with such company whereby the company will make payments in connection with the
distribution of its shares, Provided, That:
Such agreement is made in compliance with the provisions
of Rule 12b-1; and
No other registered management investment company which
is either an affiliated person of such company or an affiliated person of such a
person is a party to such agreement.
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