[Federal Register Volume 59, Number 174 (Friday, September 9, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-22210]
[[Page Unknown]]
[Federal Register: September 9, 1994]
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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 20525; 811-6586]
Mutual Funds for Credit Unions, Inc.; Notice of Application
September 1, 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: Mutual Funds For Credit Unions, Inc.
Relevant Act Section: Section 8(f).
SUMMARY OF APPLICATION: Applicant requests an order declaring it has
ceased to be an investment company.
FILING DATE: The application was filed on July 29, 1994 and amended on
August 29, 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 September 26,
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, N.W., Washington, D.C.
20549. Applicant, 3570 Hunters Sound, San Antonio, Texas 78230.
FOR FURTHER INFORMATION CONTACT:Deepak Pai, Attorney, at (202) 942-
0574, or Robert A. Robertson, Branch Chief, at (202) 942-0564 (Division
of Investment Management, Office 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 registered as an open-end management investment
company under the Act and organized as a corporation under the laws of
the State of Maryland. On March 10, 1992, applicant filed a
registration statement to register its shares under the Securities Act
of 1933. The registration statement was declared effective on June 16,
1992, and an initial public offering commenced on September 15, 1992.
All shares of the portfolios were sold to credit unions and are
considered institutional shares.
2. Applicant's board of directors determined that the liquidation
of applicant's portfolios, Money Market Portfolio and Government
Securities Portfolio, was in the best interests of applicant. On
February 17, 1994, the board of directors approved the terms of the
liquidation. On February 24, 1994, applicant sent a letter to its eight
(8) shareholders explaining the resignation of applicant's investment
adviser, distributor and administrator. As a result of the letters
mailed to shareholders, shareholders redeemed their shares at net asset
value. On March 15, 1994, applicant's sole shareholder, AIM Advisors,
Inc., approved the liquidation and dissolution.
3. On March 15, 1994, the Money Market Portfolio had 100,000 shares
outstanding at a net asset value of $1.00 per share. The Government
Securities Portfolio had 25,035.534 shares outstanding at a net asset
value of $9.93 per share. At such date, aggregate net assets of
applicant were $99,913 and $248,632, respectively.
4. All expenses incurred in connection with the liquidation have
been assumed and paid by AIM Advisors, Inc., applicant's investment
adviser.
5. As of the date of this application, applicant has no debts or
liabilities 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.
6. Applicant is current with respect to all filings required under
the Act, including N-SAR filings for each semiannual period for which
such filing is required.
7. Applicant intends to file all documents required to terminate
its existence as a Maryland corporation.
For the SEC, by the Division of Investment Management, under
delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-22210 Filed 9-8-94; 8:45 am]
BILLING CODE 8010-01-M