Whenever a security holder of an investment company participating in an informal accumulation plan agrees to make payments for periodic investments out of a checking account, by power of attorney or otherwise, such arrangements must be subject to revocation or modification by the security holder at all times, until final payment of any withdrawal by the bank in which the account is maintained.

Note: Authority cited: Section 25610, Corporations Code. Reference: Section 25140, Corporations Code.

History

1. Amendment filed 4-23-86; effective upon filing pursuant to Government Code Section 11346.2(d) (Register 86, No. 17).