NEBRASKA ADOPTS LEGISLATION GRANTING SECURITIES DIRECTOR AUTHORITY TO PERMIT PERFORMANCE FEES

April 25, 1990 TO: INVESTMENT ADVISER MEMBERS NO. 11-90 INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 10-90 RE: NEBRASKA ADOPTS LEGISLATION GRANTING SECURITIES DIRECTOR AUTHORITY TO PERMIT PERFORMANCE FEES ________________________________________________________ Nebraska has adopted legislation that would permit the Director of the Department of Banking and Finance to issue a rule or an order permitting registered investment advisers to charge performance fees. Attached is a copy of the legislation. We will keep you informed of any action the Director takes under the new law. Amy B. Rosenblum Assistant General Counsel Attachment