20 NCAC 01G .0406. PURCHASE OF OWNERSHIP UNITS

(a)  Participants shall purchase ownership units in the investment fund on the last day of a calendar month in which the State Treasurer, after consultation with the Equity Investment Committee, determines that the size of the Equity Investment Advisory Fund shall be increased.

(b)  Purchases shall be made in the nearest multiple of one thousand dollars ($1,000) which will result in approximately the same ratio of book value of the ownership units of the equity investment fund to the total book value of its investment portfolio for all participants as of the end of the next preceding month.

(c)  Purchases shall be effective at the close of business on the last calendar day of the month.  If the last day falls on a Saturday or Sunday, the transaction will be effective on that date.  All transactions shall be affected by a transfer of cash from the Short‑Term Investment Fund from balances previously deposited therein to the credit of the participant.

 

History Note:        Filed as an Emergency Regulation Eff. July 1, 1979, for a

Period of 120 Days to Expire on October 29, 1979;

Statutory Authority G.S. 147‑69.3;

Made Permanent Eff. October 29, 1979;

Amended Eff. June 1, 1984; February 1, 1982.