Common use of Shareholder Accounts Clause in Contracts

Shareholder Accounts. Upon receipt of any funds referred to in paragraph 9, CISC will compute the number of shares purchased by the shareholder according to the net asset value of Fund shares determined in accordance with applicable federal laws and regulations and as described in the Prospectus of the Fund and: (a) In the case of a new shareholder, open and maintain an open account for such shareholder in the name or names set forth in the subscription application form; (b) Send to the shareholder a confirmation indicating the amount of full and fractional shares purchased (in the case of fractional shares, rounded to three decimal places) and the price per share; (c) In the case of a request to establish a plan or program being offered by the Fund's Prospectus, open and maintain such plan or program for the shareholder in accordance with the terms thereof; and (d) Perform such other services and initiate and maintain such other books and records as are customarily undertaken by transfer agents in maintaining shareholder accounts for registered investment company investors; all subject to requirements set forth in the Fund's Prospectus with respect to rejection of orders. For closed accounts, CISC will maintain account records through June of the calendar year following the year in which the account is closed, or such other period of time as CISC and SSI shall mutually agree in writing from time to time.