April 3, 1990
TO: UNIT INVESTMENT TRUST COMMITTEE NO. 13-90
RE: REQUEST FOR RESALES EXEMPTION IN CALIFORNIA
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As you know, California is one of the few states that
requires renewal of a registration statement of a unit investment
trust for resales of units of a unit trust. The Institute
recently requested that the California Corporations Commission
review this requirement and consider adopting an exemption for
resales of units of a unit trust. A copy of the Institute's
letter is attached.
We will keep you advised of any developments.
Patricia Louie
Assistant General Counsel
Attachment