Section 394-B:21 Investment Trust Shares.
The following described shares or units are legal investments if listed on the New York Stock Exchange or authorized for sale in the state of New Hampshire by the New Hampshire insurance department, securities division:
I. The shares of any management type investment company, either open-end or close-end, provided that:
(a) If such fund acts as its own investment manager it must have been in business for at least 5 years, have at least $50,000,000 of net assets and have paid dividends for at least 4 of the 5 years immediately preceding investment.
(b) In the event that the fund employs outside investment management then those investment managers must have a total of at least $100,000,000 under management and the fund must have been in business for at least 5 years, have net assets of $50,000,000 and have paid dividends for at least 4 of the 5 years immediately preceding investment.
II. The shares of any management type investment company that is a member of a group of 3 or more mutual funds under the same investment manager, provided that:
(a) Such manager has at least $100,000,000 of assets under management, and
(b) The fund has at least $10,000,000 of net assets.
III. Unit investment trusts with principal of at least $1,000,000, if authorized for sale in the state of New Hampshire.
Source. 1983, 195:1, eff. Aug. 14, 1983.