Rules and Regulations
promulgated
under the
Investment Company Act of 1940
Rule 17f-3 -- Free Cash Accounts for Investment Companies with Bank Custodians
No registered investment company having a bank custodian shall hold free cash except,
upon resolution of its board or directors, a petty cash account may be maintained
in an amount not to exceed $500: Provided, That such account is operated under
the imprest system and is maintained subject to adequate controls approved by the
board of directors over disbursements and reimbursements including, but not limited
to fidelity bond coverage of persons having access to such funds.
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