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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/30/20 Spirit of America Inv Fund Inc 485BPOS 3/30/20 4:1.2M FilePoint/FA → Spirit of America Energy Fund ⇒ Class A (SOAEX) — Class C (SACEX) — Institutional Shares (SAIEX) |
Document/Exhibit Description Pages Size
1: 485BPOS Post-Effective Amendment of a Form N-1 or N-1A HTML 518K
Registration
2: EX-99.28.H.XXIII Miscellaneous Exhibit HTML 9K
3: EX-99.28.J Miscellaneous Exhibit HTML 5K
4: EX-99.28.N.III Miscellaneous Exhibit HTML 14K
SPIRIT OF AMERICA INVESTMENT FUND, INC.
Amended & Restated Multiple Class Plan Pursuant to Rule 18f-3
Pursuant to Rule 18f-3 under the Investment Company Act of 1940, as amended (the "1940 Act"), Spirit of America Investment Fund, Inc. (the "Company"), on behalf of its series (each a “Fund” and collectively the “Funds”) hereby adopts this Multiple Class Plan (the "Plan") which sets forth the separate distribution arrangements and expense allocations of each Class of each Fund. This Plan has been adopted by a majority of the Board of Directors, including a majority of the independent directors of the Company. The Board has determined that the Plan is in the best interests of each Class and the Company as a whole. The Plan sets forth the provisions relating to the establishment of multiple classes of shares for each Fund.
1. Each Fund may offer three classes of shares, Class A Shares, Class C Shares and Institutional Shares.
2. Class A Shares are sold subject to a front-end sales charge of 5.25% for an investment under $100,000, 4.50% for investments of $100,000 but less than $250,000, 3.75% for investments of $250,000 but less than $500,000, and 3.00% for investments of $500,000 but less than $1,000,000. There is no sales load for investments over $1,000,000.
Class A Shares are subject to Rule 12b-1 distribution expenses. Class A Shares of each Fund will compensate David Lerner Associates, Inc. (the “Distributor”), a registered broker-dealer and distributor, or others for all expenses incurred by such parties in the promotion and distribution of shares of Class A of each Fund, including but not limited to, the printing of prospectuses and reports used for sales purposes, expenses of preparation of sales literature and related expenses, advertisements, and other distribution-related expenses (“Distribution Fees”), as well as any distribution or service fees paid to securities dealers or others who have executed a servicing agreement with each Fund on behalf of Class A Shares or the Distributor, which form of agreement has been approved by the Directors, including the non-interested directors. The monies to be paid pursuant to any such servicing agreement shall be used to pay dealers or others for, among other things, furnishing personal services and maintaining shareholder accounts, which services include, among other things, assisting in establishing and maintaining customer accounts and records; assisting with the purchase and redemption requests; arranging for bank wires; monitoring dividend payments from each Fund on behalf of customers; forwarding certain shareholder communications from each Fund to customers; receiving and answering correspondence; and aiding in maintaining the investment of their respective customers which are Class A shareholders (“Service Fees”).
The maximum aggregate amount which may be reimbursed by Class A Shares of each Fund to such parties shall be 0.30% per annum of the average daily net assets attributable to Class A Shares.
3. A contingent deferred sales charge (“CDSC”) is imposed on certain redemptions of Class A Shares. Redemptions of investments of $1 million or more of Class A Shares made within one year of purchase are subject to a CDSC of 1.00%. The charge is assessed on an amount equal to the lesser of the then current market value or the cost of the shares being redeemed. Accordingly, no sales charge is imposed on increases in net asset value above the initial purchase price. The amount of any applicable CDSC will be calculated by multiplying the lesser of the original purchase price or the net asset value of such shares at the time of redemption by 1.00%.
C:
Multiple Class Plan - Spirit of America Investment Fund, Inc. | Page C: 1 |
4. Class C Shares will pay the expenses associated with its different distribution and shareholder servicing arrangements. The Class C Shares of a Fund will reimburse the Distributor for payments for the purpose of financing or assisting in the financing of any activity which is primarily intended to result in the sale of Class C Shares of each Fund and for servicing accounts of holders of the Class C Shares (“Service and Distribution Fees”). Class C Shares of a Fund pay, pursuant to a Rule 12b-1 plan under the 1940 Act (the “12b-1 Plan), a Service and Distribution Fee of 1.00% per annum of the average daily net assets of such Fund attributable to such class.
5. Institutional Shares of a Fund will not be subject to a 12b-1 Plan and will not pay Rule 12b-1 distribution expenses.
6. The Fund's Rule 12b-1 Plans relating to both Class A Shares and Class C Shares shall operate in accordance with the Conduct Rules of the National Association of Securities Dealers Regulation, Inc., Article III, Section 26(d).
7. Certain expenses attributable to each Fund, and not to a particular class will be borne by each class on the basis of the relative aggregate net assets of the Fund. Notwithstanding the foregoing, the investment manager or other service provider may waive or reimburse the expenses of a specific class or classes to the extent permitted under Rule 18f-3 under the 1940 Act.
8. Dividends and other distributions paid by each class of shares, to the extent that any dividends are paid, will be calculated in the same manner, at the same time, on the same day, and will be in the same amount, except that any Distribution Fees, Service Fees and class expenses allocated to a class will be borne exclusively by that class.
9. Each Class shall vote separately and exclusively with respect to any matter related to the respective Rule 12b-1 Plan. Each Class shall vote separately with respect to any matter that relates solely to that Class.
10. On an ongoing basis, the directors, pursuant to their fiduciary responsibilities under the 1940 Act, and otherwise, will monitor each Fund for the existence of any material conflicts between the interests of the classes of shares. The directors, including a majority of the independent directors, shall take such action as is reasonably necessary to eliminate any such conflict that may develop. Spirit of America Management Corp., the Company’s investment adviser, and the Distributor shall be responsible for alerting the Board of Directors to any material conflicts that arise.
11. All material amendments to this Plan must be approved by a majority of the directors of the Company, including a majority of the independent directors.
C:
Multiple Class Plan - Spirit of America Investment Fund, Inc. | Page 2 |
| Adopted: | January 26, 1998 |
| Amended: | February 29, 2008 (made applicable to the High Yield Fund) |
| Amended: | December 31, 2008 (made applicable to the Income Fund) |
| Amended: | December 1, 2015 |
| Amended and Restated: | February 26, 2020 |
C:
Multiple Class Plan - Spirit of America Investment Fund, Inc. | Page 3 |
| This ‘485BPOS’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on / Effective on: | 3/30/20 | |||
| 2/26/20 | ||||
| 12/1/15 | ||||
| 12/31/08 | 24F-2NT, EFFECT, N-CSR, NSAR-B | |||
| 2/29/08 | 497, NSAR-BT | |||
| 1/26/98 | N-18F1 | |||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/29/24 Spirit of America Inv Fund Inc. 485BPOS 4/29/24 14:5.5M Blu Giant, LLC/FA 3/28/24 Spirit of America Inv Fund Inc. 485BPOS 3/29/24 15:3M Blu Giant, LLC/FA 4/28/23 Spirit of America Inv Fund Inc. 485BPOS 5/01/23 13:4.5M Blu Giant, LLC/FA 3/30/23 Spirit of America Inv Fund Inc. 485BPOS 3/30/23 14:3M Blu Giant, LLC/FA 1/27/23 Spirit of America Inv Fund Inc. 485BPOS 1/29/23 24:2.2M Blu Giant, LLC/FA 11/15/22 Spirit of America Inv Fund Inc. 485APOS 2:692K Blu Giant, LLC/FA 4/28/22 Spirit of America Inv Fund Inc. 485BPOS 4/29/22 14:5.5M Blu Giant, LLC/FA 3/30/22 Spirit of America Inv Fund Inc. 485BPOS 3/30/22 13:2.4M Blu Giant, LLC/FA 4/29/21 Spirit of America Inv Fund Inc. 485BPOS 4/30/21 3:1.6M Blu Giant, LLC/FA 3/29/21 Spirit of America Inv Fund Inc. 485BPOS 3/30/21 2:997K Blu Giant, LLC/FA |