# 17 C.F.R. § 270.18f-1 (2026): Exemption from certain requirements of section 18(f)(1) (of the Act) for registered open-end investment companies which have the right to redeem in kind > Federal · Regulations · In force URL: https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_18f_1 ## Section - **Citation:** 17 C.F.R. § 270.18f-1 (2026) - **Heading:** Exemption from certain requirements of section 18(f)(1) (of the Act) for registered open-end investment companies which have the right to redeem in kind - **Jurisdiction:** Federal - **Kind:** Regulations - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Title 17 CFR: Commodity and Securities Exchanges / Chapter II: SECURITIES AND EXCHANGE COMMISSION / Part 270: RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940 / § 270.18f-1: § 270.18f-1 Exemption from certain requirements of section 18(f)(1) (of the Act) for registered open-end investment companies which have the right to redeem in kind. ## Text (a) A registered open-end investment company which has the right to redeem securities of which it is the issuer in assets other than cash may file with the Commission at any time a notification of election on Form N-18F-1 (§ 274.51 of this chapter) committing itself to pay in cash all requests for redemption by any shareholder of record, limited in amount with respect to each shareholder during any 90-day period to the lesser of (1) $250,000 or (2) 1 percent of the net asset value of such company at the beginning of such period. (b) An election pursuant to paragraph (a) of this section: (1) Shall be described in either the prospectus or the Statement of Additional Information, at the discretion of the investment company, and (2) Shall be irrevocable while this § 270.18f-1 is in effect unless the Commission by order upon application permits the withdrawal of such notification of election as being appropriate in the public interest and consistent with the protection of investors. (c) Upon making the election described in paragraph (a) of this section, an investment company shall be exempt from the requirements of section 18(f)(1) (of the Act) to the extent necessary for such company to effectuate redemptions in the manner set forth in such paragraph. (Secs. 7, 10, and 19 of the Securities Act of 1933 (15 U.S.C. 77g, 77j, and 77s) and secs. 8, 30 and 38 of the Investment Company Act of 1940 (15 U.S.C. 80a-8, 80a-29 and 80a-37)) [36 FR 11919, June 23, 1971, as amended at 48 FR 37940, Aug. 22, 1983] ## Nearby sections - [17 C.F.R. § 270.0-1 (2026) § 270.0-1 Definition of terms used in this part.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_0_1.md) - [17 C.F.R. § 270.0-2 (2026) § 270.0-2 General requirements of papers and applications.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_0_2.md) - [17 C.F.R. § 270.0-3 (2026) § 270.0-3 Amendments to registration statements and reports.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_0_3.md) - [17 C.F.R. § 270.0-4 (2026) § 270.0-4 Incorporation by reference.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_0_4.md) - [17 C.F.R. § 270.0-5 (2026) § 270.0-5 Procedure with respect to applications and other matters.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_0_5.md) - [17 C.F.R. § 270.0-8 (2026) § 270.0-8 Payment of filing fees.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_0_8.md) - [17 C.F.R. § 270.0-10 (2026) § 270.0-10 Small entities under the Investment Company Act for purposes of the Regulatory Flexibility Act.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_0_10.md) - [17 C.F.R. § 270.0-11 (2026) § 270.0-11 Customer identification programs.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_0_11.md) - [17 C.F.R. § 270.2a-1 (2026) § 270.2a-1 Valuation of portfolio securities in special cases.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_2a_1.md) - [17 C.F.R. § 270.2a-2 (2026) § 270.2a-2 Effect of eliminations upon valuation of portfolio securities.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_2a_2.md) - [17 C.F.R. § 270.2a-4 (2026) § 270.2a-4 Definition of “current net asset value” for use in computing periodically the current price of redeemable security.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_2a_4.md) - [17 C.F.R. § 270.2a-5 (2026) § 270.2a-5 Fair value determination and readily available market quotations.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_2a_5.md) - [17 C.F.R. § 270.2a-6 (2026) § 270.2a-6 Certain transactions not deemed assignments.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_2a_6.md) - [17 C.F.R. § 270.2a-7 (2026) § 270.2a-7 Money market funds.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_2a_7.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T17_P270_S270_18f_1. 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