[Federal Register Volume 62, Number 81 (Monday, April 28, 1997)]
[Notices]
[Pages 22981-22982]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-10796]


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SECURITIES AND EXCHANGE COMMISSION

[Rel. No. IC-22627; 811-7348]


The Diaz-Verson Funds, Inc.; Notice of Application

April 21, 1997.
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: The Diaz-Verson Funds, Inc.

RELEVANT ACT SECTION: Section 8(f).

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

FILING DATE: The application was filed on December 31, 1996 and amended 
on April 8, 1997.

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 May 16, 1997, 
and should be accompanied by proof of service on 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 5th Street, NW., Washington, DC 20549. 
Applicant, 1200 Brookstone Centre Parkway, Suite 105, Columbus, Georgia 
31904.

FOR FURTHER INFORMATION CONTACT:
Shirley A. Bodden, Paralegal Specialist, at (202) 942-0575, or Mercer 
E. Bullard, 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 at the 
SEC's Public Reference Branch.

Applicant's Representations

    1. Applicant is a registered open-end management investment company 
organized as a Maryland corporation. It has one portfolio, the Diaz-
Verson Americas Equity Fund. On November 19, 1992, applicant registered 
under the Act by filing a notification of registration on Form N-8A. On 
the same date, applicant filed a registration statement under the Act 
and under the Securities Act of 1933 to register an indefinite number 
of shares of applicant. The registration statement became effective on 
March 3, 1993, and applicant commenced a public offering of the shares 
on March 23, 1993.
    2. On September 30, 1996, applicant's board of directors met and 
authorized the liquidation and dissolution of the Fund pursuant to a 
Plan of Liquidation (the ``Plan''), citing principally the lack of 
cost-effective marketing alternatives to increase applicant's size. 
Proxy materials were filed with the SEC on October 3, 1996, and were 
mailed to applicant's shareholders on October 18, 1996. Applicant's 
shareholders met on November 22, 1996 and approved the Plan.
    3. On December 20, 1996, applicant had approximately 581,952.129 
outstanding shares with an aggregate net asset value of $5,797,266 and 
a per share net asset value of $9.96. Pursuant to the Plan, all of 
applicant's assets were liquidated and a check representing each 
shareholder's portion of the proceeds was mailed on or about December 
27, 1996. Each shareholder received proceeds equal to applicant's net 
asset value per share immediately prior to liquidation. Applicant's 
portfolio securities were all disposed of in the ordinary course of 
business at prevailing market prices, or pursuant to valuations 
approved by applicant's Board of Directors, at usual and customary 
brokerage commissions where commissions were charged. Applicant has 
made distributions in complete liquidation to all its securityholders.
    4. Applicant anticipates liquidation expenses to be approximately 
$30,000, which will be borne by applicant's adviser, Diaz-Verson 
Capital Investment, Inc. The adviser has paid to applicant all 
unamortized organizational expenses.
    5. Applicant has no outstanding assets, securityholders, debts or 
liabilities. Applicant is not a party to any litigation or 
administrative proceeding. Applicant is not now engaged, nor does it 
propose to engage, in any business activities other than

[[Page 22982]]

those necessary for the winding up of its affairs.
    6. Applicant intends to file Articles of Dissolution with the State 
of Maryland.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-10796 Filed 4-25-97; 8:45 am]
BILLING CODE 8010-01-M