VIKING MUTUAL FUNDS
N-18F1, 1999-08-10
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                       SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                  FORM N-18F-1

                 Notification of Election Pursuant to Rule 18f-1

                    Under the Investment Company act of 1940

                               VIKING MUTUAL FUNDS

        NOTIFICATION OF ELECTION The undersigned  registered open-end investment
company,  on behalf of the following  series:  Viking Tax-Free Fund for Montana,
Viking  Tax-Free  Fund  for  North  Dakota,  and  Viking  Large-Cap  Value  Fund
("Series"),  hereby  notifies the  Securities and Exchange  Commission  that the
Series  elect  to  commit  themselves  to  pay  in  cash  all  redemptions  by a
shareholder of record as provided by Rule 18f-1 under the Investment Company Act
of 1940. It is understood  that this election is irrevocable  while such Rule is
in effect unless the Commission by order upon application permits the withdrawal
of this Notification of Election.

                                    SIGNATURE

        Pursuant to the requirements of Rule 18f-1 under the Investment  Company
Act of 1940, the Registrant has caused this  Notification of Election to be duly
executed  on its  behalf in the city of Minot and state of North  Dakota on this
2nd day of August, 1999.

                                                   VIKING MUTUAL FUNDS


                                                   By: /s/ Shannon D. Radke
                                                       -------------------
                                                       Shannon D. Radke
                                                       President



Attest:


/s/ Douglas P. Miller
- ---------------------
Douglas P. Miller
Vice President/Secretary


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