Sec.3-31b-9. Cost value per unit for the participant and cost value for the funds

(a) Each Participant’s cost value per unit shall be determined by dividing the total cost of each Participant’s applicable contributions by the number of units that have been distributed for those contributions.

(b) The cost value of each contribution of each Participant shall be transferred to the combined funds and shall become the cost of that contribution in the combined funds. The sum total of all the cost values of all the contributions shall equal the sum total of the cost values per unit as described in subsection (a) of this section.

(c) All transactions involving the combined funds made after the cost value per unit has been established will affect the cost value of the funds but will not change the cost value per unit of the Participants. The cost value per unit of the Participant will change when new Participant contributions or redemptions are made.

(Effective April 19, 1991; Amended September 30, 1998; Amended September 13, 2016)