Regulated Investment Company. Each of PIF and the Acquiring Fund has met the requirements of subchapter M of the Code for treatment as a "regulated investment company" within the meaning of Section 851 of the Code in respect of each taxable year since it commenced operations and will continue to meet such requirements at all times through the Closing Date. Each of PIF and the Acquiring Fund has not at any time since its inception been liable for nor is now liable for any material income or excise tax pursuant to Section 852 or 4982 of the Code. The Acquiring Fund is in compliance in all material respects with applicable regulations of the Internal Revenue Service pertaining to the reporting of dividends and other distributions on and redemptions of its capital stock and to withholding in respect of dividends and other distributions to shareholders and is not liable for any material penalties which could be imposed thereunder.
Appears in 4 contracts
Samples: Agreement and Plan of Reorganization (Principal Investors Fund Inc), Agreement and Plan of Reorganization (Wm Strategic Asset Management Portfolios), Agreement and Plan of Reorganization (Wm Trust I)
