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“It's our aim to break down all the legalese and the jargon, the dense cover-your-assets boilerplate that reads more like the insurance policy it is than the helpful guide to investors that it's meant to be.
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Christopher Cox, former SEC Chairman, March 8, 2007
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SAMPLE 6 - Original
Dividends paid to shareholders from interest earned by the Fund from tax-exempt municipal obligations and from exempt interest dividends received by the Fund from other tax-exempt securities are not includible in a shareholder’s gross income for federal income tax purposes. Distributions of net interest income derived from other sources, if any, and of net short-term capital gains realized by the Fund will be taxable to shareholders as ordinary income. Net long-term capital gain distributions, if any, will be taxable to shareholders as long-term capital gain regardless of how long the shares of the Fund have been held.
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