Series 22: 1.2.1.2.2. Characteristics Of A Regulated Investment Company

Taken from our Series 22 Top-off Online Guide

1.2.1.2.2. Characteristics of a Regulated Investment Company

A regulated investment company (RIC) is a corporation registered under the Investment Company Act of 1940 as a unit investment trust or management company, and which specifically elects to become an RIC. Like REITs, a regulated investment company must derive at least 90% of its income from passive assets, such as dividends, interest, and gains from the sale of securities and real property.

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