Reminder That Oklahoma's Notice Filing Fee for Mutual Funds Applies to All Funds Offered for Sale in the State
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May 25, 2017 TO: ICI Members SUBJECTS: DistributionState Issues
Transfer Agency RE: Reminder That Oklahoma's Notice Filing Fee for Mutual Funds Applies to All Funds Offered for Sale in the State
This memo is to remind members that an effective notice filing must be maintained in Oklahoma for each class of an investment company security during any period that the security is offered for sale in Oklahoma or sold to residents of the state. Oklahoma’s notice filing fee is a flat fee of $500 per class and a notice remains effective for one (1) year, subject to renewal. An effective notice is required on every class included in a prospectus unless the prospectus includes express disclosure identifying each security (fund, portfolio, and class, as applicable) included in the prospectus that is not being offered for sale and will not be sold in Oklahoma or to residents of Oklahoma. If the prospectus does not include this express disclosure, an effective notice must be maintained and the $500 initial or renewal notice filing fee must be paid for each class in the prospectus without regard to whether the issuer intends to sell shares to Oklahomans.
Tamara K. Salmon
Associate General Counsel