[Federal Register Volume 59, Number 146 (Monday, August 1, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-18576]


[[Page Unknown]]

[Federal Register: August 1, 1994]


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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 20425; 811-3549]

 

CIMCO Money Market Trust; Notice of Application

July 25, 1994.
AGENCY: Securities and Exchange Commission (``SEC'').

ACTION: Notice of application for deregistration under the Investment 
Company Act of 1940 (the ``Act'').

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APPLICANT: CIMCO Money Market Trust.

RELEVANT ACT SECTION: Order requested under section 8(f).

SUMMARY OF APPLICATION: Applicant seeks an order declaring it has 
ceased to be an investment company.

FILING DATE: The application was filed on June 6, 1994 and amended on 
July 19, 1994.

HEARING OR NOTIFICATION OF HEARING: An order granting the application 
will be issued unless the SEC orders a hearing. Interested persons may 
request a hearing by writing to the SEC's Secretary and serving 
applicant with a copy of the request, personally or by mail. Hearing 
requests should be received by the SEC by 5:30 p.m. on August 22, 1994, 
and should be accompanied by proof of service on the applicant, in the 
form of an affidavit or, for lawyers, a certificate of service. Hearing 
requests should state the nature of the writer's interest, the reason 
for the request, and the issues contested. Persons may request 
notification of a hearing by writing to the SEC's Secretary.

ADDRESSES: Secretary, SEC, 450 Fifth Street NW., Washington, D.C. 
20549. Applicant, 2000 Heritage Way, Waverly, IA 50677.

FOR FURTHER INFORMATION CONTACT:
Marianne H. Khawly, Law Clerk, at (202) 942-0562, or C. David Messman, 
Branch Chief, at (202) 942-0564 (Division of Investment Management, 
Officer of Investment Company Regulation).

SUPPLEMENTARY INFORMATION: The following is a summary of the 
application. The complete application may be obtained for a fee from 
the SEC's Public Reference Branch.

Applicant's Representations

    1. Applicant is a registered open-end, diversified, management 
investment company under the Act and was organized as a business trust 
under the laws of the Commonwealth of Massachusetts. On August 23, 
1982, applicant filed a notification of registration on form N-8A 
pursuant to section 8(a) of the Act and registration statement on form 
N-1A under section 8(b) of the Act and under the Securities Act of 
1933. The registration statement became effective on September 16, 
1983, and applicant's initial public offering commenced on that date.
    2. Pursuant to written consent on October 28, 1993, applicant's 
Board of Trustees determined that it was advisable and in the best 
interest of applicant and its shareholders that applicant terminate its 
existence as a Massachusetts business trust, liquidate any assets and 
that the proceeds from the liquidation be returned to applicant's 
shareholders. The Trustees recommended termination of the Trust because 
the small asset size of the Trust, the small number of shareholders, 
and the low level of market interest rates meant that the Trust could 
not produce a competitive yield.
    3. Applicant's Declaration of Trust provides that applicant may be 
terminated by an instrument in writing signed by a majority of the 
Trustees and the holders of a majority of the shares. On October 28, 
1993, Century Life of America, (the ``sponsor''), as holder of a 
majority of applicant's shares, executed an instrument in writing 
terminating the Trust.
    4. On November 1, 1993, a letter was sent to all shareholders 
notifying them of the decision the Trustees made on October 28, 1993 to 
terminate the Trust. Distribution to Century Life of America was 
delayed so that any loss caused by sale of assets prior to maturity 
would be borne by the sponsor rather than by individual shareholders. 
Shareholders other than the sponsor were sent checks for the full value 
of their accounts on December 1, 1993. That distribution totalled 
$1,980,440. Between December 14 and December 29, the Trust's remaining 
assets, totalling $6,206,672, were distributed to the sponsor.
    5. All expenses incurred in connection with applicant's liquidation 
were borne by the sponsor. Such expenses, totalling approximately 
$25,000, included postage and administrative expenses.
    6. As of the date of the application, applicant has no assets, 
debts, or liabilities; had no shareholders; and is not a party to any 
litigation or administrative proceeding. Applicant is neither engaged 
in nor proposes to engage in any business activities other than those 
necessary for the winding-up of its affairs.
    7. Applicant terminated its existence as a business trust under 
Massachusetts law on February 28, 1994.

    For the SEC, by the Division of Investment Management, under 
delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-18576 Filed 7-29-94; 8:45 am]
BILLING CODE 8010-01-M