Among the restrictions placed on open-end investment companies by the Investment Company Act of 1940 are:
I. mutual funds are only allowed to maintain TIC accounts with other funds that are members of the same family of funds.
II. no public offering may commence unless the fund has at least $100,000 in net assets.
III. no registered investment company may own more than 3% of the voting shares of another registered investment company.
IV. shares of the fund will not have any margin loan value until the 30th day after purchase.
A) II and III.
B) I and II.
C) I and IV.
D) II and IV.
Answer: A) II and III.