May 18, 1989
TO: STATE SECURITIES MEMBERS NO. 18-89
UNIT INVESTMENT TRUST MEMBERS NO. 27-89
RE: NEW MEXICO FORM TO CLAIM BLUE CHIP EXEMPTION
__________________________________________________________
As you know, New Mexico recently adopted an exemption from
registration for qualified mutual funds and unit trusts. (See
Memorandum to State Securities Members No. 24-89, Unit Investment
Trust Members No. 21-89, dated April 14, 1989.) Attached is a
copy of the form, Form M, issued by the New Mexico Securities
Division to use in claiming the exemption and the Order adopting
the form.
The Order provides that funds and trusts that are currently
registered may claim the exemption upon expiration of their
registration by submitting the form and appropriate fee at least
two weeks prior to the expiration of their current registration.
Funds and trusts that claim the exemption should submit three
copies of the form for each portfolio or series; one copy will be
returned to the sender showing the effective date of the fund's
or trust's exemption. A fund or trust utilizing the exemption
for the first time, even if previously registered in New Mexico,
should indicate on Form M that it is an initial filing.
The Division has informed the Institute that it is
considering a rule that would assess a $50 fee if the form is
incomplete or incorrect and must be returned to the issuer. We
will keep you informed of developments.
Natalie Shirley
Associate General Counsel
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