LIQUIDATION AND DISSOLUTION OF THE SELLING FUND. a. As soon as practicable after the Valuation Date, the Selling Corporation will liquidate the Selling Fund and distribute shares of the Buying Fund to the Selling Fund's shareholders of record. The Buying Fund will establish shareholder accounts in the names of each Selling Fund shareholder, representing the respective pro rata number of full and fractional shares of the Buying Fund due to each shareholder. All issued and outstanding shares of the Selling Fund will simultaneously be cancelled on the books of the Selling Corporation. The Buying Fund or its transfer agent will establish shareholder accounts in accordance with instructions from the Selling Corporation.
Appears in 16 contracts
Samples: Agreement and Plan of Reorganization (Riversource Variable Portfolio Investment Series, Inc.), Agreement and Plan of Reorganization (Riversource Large Cap Series, Inc.), Agreement and Plan of Reorganization (Axp Variable Portfolio Income Series Inc)
LIQUIDATION AND DISSOLUTION OF THE SELLING FUND. a. As soon as practicable after the Valuation Date, the Selling Corporation Trust will liquidate the Selling Fund and distribute shares of the Buying Fund to the Selling Fund's shareholders of record. The Buying Fund will establish shareholder accounts in the names of each Selling Fund shareholder, representing the respective pro rata number of full and fractional shares of the Buying Fund due to each shareholder. All issued and outstanding shares of the Selling Fund will simultaneously be cancelled on the books of the Selling CorporationTrust. The Buying Fund or its transfer agent will establish shareholder accounts in accordance with instructions from the Selling CorporationTrust.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization (Riversource Tax-Exempt Series Inc)
