Provisions in Conflict with Law or Regulation. (a) The provisions of this Declaration of Trust are severable, and if the Trustees shall determine, with the advice of counsel, that any of such provisions is in conflict with the 1940 Act, the regulated investment company provisions of the Internal Revenue Code or with other applicable laws and regulations, the conflicting provision shall be deemed never to have constituted a part of this Declaration of Trust; provided, however, that such determination shall not affect any of the remaining provisions of this Declaration of Trust or render invalid or improper any action taken or omitted prior to such determination.
Appears in 5 contracts
Samples: Agreement and Declaration (Vericimetry Funds), Agreement and Declaration of Trust (Pertuity Funds), National Retail Fund I (National Retail Fund I)
