Rules and Regulations
promulgated
under the
Investment Company Act of 1940
Rule 27f-1 -- Notice of Right of Withdrawal Required to Be Mailed to Periodic Payment Plan Certificate Holders and Exemption from Section 27(f) for Certain Periodic Payment Plan Certificates
The notice and statement of charges (notice) required
by section 27(f) of the Act shall be sent
by first-class mail and shall be accompanied by a written instruction sheet and a
return form to be used in connection with the exercise of the right of withdrawal
described in the notice. Except for a confirmation slip, the plan certificate, and
any notice required by applicable State law, no other written or graphic material
may be included with such notice.
The notice may be mailed by the issuer, the principal
underwriter for, or the depositor of, the issuer or a recordkeeping agent for the
issuer if the custodian bank has delegated the mailing of the notice to any of them
or the issuer has been permitted to operate without a custodian bank by Commission
order.
Solely for purposes of section 27(f) of the Act,
the postmark date on the envelope containing the certificate shall determine whether
a certificate has been surrendered within the 45-day period.
Form N-27F-1 is hereby prescribed to inform certificate
holders, other than holders of plans upon which the amount of sales load deducted
from any payment does not exceed 9 percent of any payment and variable annuity
contracts, of their withdrawal right pursuant to section 27(f) of the Act.
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