March 19, 1990
TO: STATE LIAISON COMMITTEE NO. 4-90
UNIT INVESTMENT TRUST COMMITTEE NO. 12-90
RE: SOUTH DAKOTA PROPOSES NEW RULES -
BLUE CHIP EXEMPTION FOR FUNDS AND TRUSTS
__________________________________________________________
The South Dakota Securities Division has recently proposed
for public comment several new rules and amendments to existing
rules relating to registration exemptions, including a rule that
increases the filing requirements for mutual funds and unit
trusts claiming the blue chip exemption. Proposed Section
20:08:06:21 would require a fund or trust to file a copy of its
most recent audited financial statement, as well as two copies of
the blue chip exemption form, a self-addressed stamped envelope
and the appropriate filing fee in order to claim the exemption
from registration.
Attached is a copy of the proposed rules. The Securities
Division will hold a public hearing on the proposed amendments
Tuesday, April 3, 1990 at 9:00 a.m. Please contact me with any
comments by Wednesday, March 28, 1990 so that such can be
included in the Institute's comment letter. My direct number at
the Institute is (202) 955-3517.
Patricia Louie
Assistant General Counsel
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