Series 53: 4.2.4.10.3. Municipal Fund Disclosures

Taken from our Series 53 Online Guide

4.2.4.10.3. Municipal Fund Disclosures

The MSRB requires additional disclosures for municipal fund securities. Municipal fund securities, such as a 529 savings plan or an LGIP, are open-end funds. This means that whenever shares in the fund are purchased, the shares are issued new by the municipal fund. Additionally, when investors wish to sell their securities, they must sell them back to the fund. The fund will then “redeem” them and expire the secu

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