EXCHANGES #478 15 USC CHAPTER 2D – INVESTMENT COMPANIES AND ADVISERS

uscode.house.gov of this section. (h) Sale of certificates; restrictions Upon making the election specified in subsection (g) of this section, it shall be unlawful for any such electing registered investment company issuing periodic payment plan certificates, or for any depositor of or underwriter for such company, to sell any such certificate, if – (1) the sales load on such certificate exceeds 9 per centum of the total payments to be made thereon; (2) more than 20 per centum of any payment thereon is deducted for sales load, or an average of more than 16 per centum is deducted for sales load from the first forty-eight monthly payments thereon, or their equivalent; (3) the amount