Disinterested Director/Trustee means a Director/Trustee of the Fund who is not an "interested person" of the Fund within the meaning of Section 2(a)(19) of the Act.
More Definitions of Disinterested Director/Trustee
Disinterested Director/Trustee means a director/trustee who is not: an affiliated person (as defined above) of the Fund; a member of the immediate family of any natural person who is an affiliated person of the Fund; an interested person (as defined below) of the Fund, any investment adviser of the Fund or any principal underwriter for the Fund.
Disinterested Director/Trustee means a board member of any Fund who is not an "interested person" of the Funds under the Investment Company Act of 1940, and who is subject to this Code only because of being a board member of one or more Funds. If you are a DISINTERESTED DIRECTOR/TRUSTEE, you are subject to only these parts of the Code: - Part I (General Principles) - Part II (A) (Prohibition of Fraud, Etc.) - Part II (B) (Prohibition on Trading COVERED SECURITIES Being Purchased, Sold or Considered for the Funds) (as limited by Part II(B))--but only as to transactions where you know (or should have known) that the COVERED SECURITY was being purchased or sold (or considered for purchase or sale) by a Fund. - Part III 3(B) (Quarterly Transaction Reporting)--but only if, during the calendar quarter, you bought or sold a COVERED SECURITY and you knew (or, in the ordinary course of fulfilling your official duties as Fund board member, you should have known) that, during the 15-day period immediately before or after you purchased or sold the COVERED SECURITY: - a Fund of which you are a board member purchased or sold that COVERED SECURITY, or - the adviser or sub-advisers of a Fund of which you are a board member considered purchasing or selling that COVERED SECURITY for the Fund. - "EMPLOYEE" means any employee or officer of a COVERED COMPANY. Employee does not include a DISINTERESTED DIRECTOR/TRUSTEE of a CMG FUND. The CMG Legal Department maintains a list of directors/trustees of the CMG Companies and CMG Family of Funds. - "INVESTMENT PERSON" refers to an ACCESS PERSON who is also: - CMG Portfolio Manager - CMG Regional Investment Adviser - Trader - Research Analyst - Members of CMG Senior Management IMPORTANT: If you have any doubt or question about whether an investment, account or person is covered by any of these definitions, ask the your CODE OFFICER. Don't just guess at the answer. CODE of ETHICS Rev. 7/1/03 - Employee of Trading Operations - Other employees as designated - "PURCHASE OR SALE OF A SECURITY" includes, among other things, the writing of an option to purchase or sell a security. CODE of ETHICS Rev. 7/1/03