20 NCAC 01G .0504. ALLOCATION OF INCOME TO PARTICIPANTS

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At the end of each calendar quarter, all income and gains or losses earned less the investment fund's share of the expenses of investment management for the period shall be distributed pro rata based on the average number of ownership units owned by each participant. Distributions shall be made in ownership units to the credit of the participant at the close of business on the day of distribution.

History Note: Authority G.S. 147‑69.3(j);

Eff. June 1, 1984;

Amended Eff. December 1, 1987.

                    
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