Independent Trustees. From the Effective Time, as defined in the Agreement and Plan of Merger among Xxxxxx Asset Management, Ltd., Xxxxxx Asset Management, L.P., Liberty Financial Companies, Inc. and WAM Acquisition L.P. dated as of June 9, 2000, through and including the third anniversary of the Effective Time, the Trust may not at any time have a board more than 25% of the members of which are persons who are "interested persons" of the Trust's investment adviser or of Xxxxxx Asset Management, L.P., as the term "interested persons" is defined by the Investment Company Act of 1940. [added 9/20/00]
Appears in 4 contracts
Samples: Acorn Investment Trust (Acorn Investment Trust), Liberty Acorn Trust, Wanger Advisors Trust
