Common use of Solicitation Activities Clause in Contracts

Solicitation Activities. All solicitation and sales activities engaged in by Distributor with respect to the Funds shall be in compliance with all applicable federal and state securities laws and regulations, as well as all compliance manuals provided by the Distributor. In particular, without limiting the generality of the foregoing: (1) Distributor shall not offer or attempt to offer Applications for Funds in any state or other jurisdiction unless the Trust has notified Distributor that such Funds may lawfully be sold or offered for sale in such state, and has not subsequently revised such notice. (2) Distributor shall not give any information or make any representation in regard to any Fund in connection with the offer or sale of such Fund that is not in accordance with the Prospectus for such Fund, or in the then-currently effective prospectus or statement of additional information for a Fund, or in current advertising materials for such Fund. (3) All Fund purchase payments shall be remitted promptly, and in any event within one business days after receipt in full, together with any Applications, forms and any other required documentation, to the transfer agent of the Trust. Checks or money orders in payment of Fund purchases shall be drawn to the order of "State Farm Mutual Funds." If any Fund purchase payment is held at any time by Distributor, Distributor shall hold such payment as an agent of the Trust and such payment shall be remitted promptly, and in any event within one business days, to the transfer agent of the Trust. Distributor acknowledges that all such Fund purchase payments, whether by check, money order or wire, shall be the property of the Trust. Distributor acknowledges that the Trust shall have the unconditional right to reject, in whole or in part, any Application or Fund purchase payment.