U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer: Declaration Fund, Suite 6160, 555
North Lane, Conshohocken, PA 19428
__________________________________________________________________
2. Name of each series or class of funds for which this notice is
filed: Declaration Cash Account Series
__________________________________________________________________
3. Investment Company Act File Number: 811-3176
Securities Act File Number: 2-72066
__________________________________________________________________
4. Last day of fiscal year for which this notice is filed:
December 31, 1995
__________________________________________________________________
5. Check box if this notice is being filed more than 180 days
after the close of the issuer's fiscal year for purposes of
reporting securities sold after the close of the fiscal year but
before termination of the issuer's 24f-2 declaration. [ ]
__________________________________________________________________
6. Date of termination of issuer's declaration under rule 24f-
2(a)(1), if applicable (see Instruction A.6):
__________________________________________________________________
7. Number and amount of securities of the same class or series
which had been registered under the Securities Act of 1933 other
than pursuant to rule 24f-2 in a prior fiscal; year, but which
remained unsold at the beginning of the fiscal year: None
__________________________________________________________________
8. Number and amount of securities registered during the fiscal
year other than pursuant to rule 24f-2: None
__________________________________________________________________
9. Number and aggregate sale price of securities sold during the
fiscal year: 45,335,406 shares - $45,335,406
__________________________________________________________________
<PAGE>
10. Number and aggregate sale price of securities sold during the
fiscal year in reliance upon registration pursuant to rule 24f-2:
45,335,406 shares - $45,335,406
__________________________________________________________________
11. Number and aggregate sale price of securities issued during
the fiscal year in connection with dividend reinvestment plans, if
applicable (see Instruction B.7): N/A
__________________________________________________________________
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year in reliance on rule 24f-2 (from Item 10):
$ 45,335,406.
(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans (from Item 11, if applicable):
+ 1,409,521.
(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable):
- 46,744,927.
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant to rule
24e-2 (if applicable):
+ x
(v) Net aggregate price of securities sold and issued during
the fiscal year in reliance on rule 24f-2 [line (i), plus line
(ii), less line (iii), plus line (iv)] (if applicable):
$
(vi) Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or regulation (see Instruction
C.6):
x x
(vii) Fee due [line (i) or line (v) multiplied by line (vi)]:
$ x
______________________
______________________
__________________________________________________________________
<PAGE>
13. Check box if fees are being remitted to the Commission's
lockbox depository as described in section 3a of the Commission's
Rules of Informal and Other Procedures (17 CFR 202.3a). [ ]
Date of mailing or wire transfer of filing fees to the
Commission's lockbox depository.
__________________________________________________________________
SIGNATURES
This report has been signed below by the following persons on
behalf of the issuer and in the capacities and on the dates
indicated.
s/ Terence P. Smith
By (Signature and Title) ______________________________
Terence P. Smith, Secretary
Date: February 15, 1996
<PAGE>
U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer: Declaration Fund, Suite 6160, 555
North Lane, Conshohocken, PA 19428
__________________________________________________________________
2. Name of each series or class of funds for which this notice is
filed: Camco 100% U. S. Treasury - Short Term Fund Series
__________________________________________________________________
3. Investment Company Act File Number: 811-3176
Securities Act File Number: 2-72066
__________________________________________________________________
4. Last day of fiscal year for which this notice is filed:
December 31, 1995
__________________________________________________________________
5. Check box if this notice is being filed more than 180 days
after the close of the issuer's fiscal year for purposes of
reporting securities sold after the close of the fiscal year but
before termination of the issuer's 24f-2 declaration. [ ]
__________________________________________________________________
6. Date of termination of issuer's declaration under rule 24f-
2(a)(1), if applicable (see Instruction A.6):
__________________________________________________________________
7. Number and amount of securities of the same class or series
which had been registered under the Securities Act of 1933 other
than pursuant to rule 24f-2 in a prior fiscal; year, but which
remained unsold at the beginning of the fiscal year: None
__________________________________________________________________
8. Number and amount of securities registered during the fiscal
year other than pursuant to rule 24f-2: None
__________________________________________________________________
9. Number and aggregate sale price of securities sold during the
fiscal year: None
__________________________________________________________________
<PAGE>
10. Number and aggregate sale price of securities sold during the
fiscal year in reliance upon registration pursuant to rule 24f-2:
None
__________________________________________________________________
11. Number and aggregate sale price of securities issued during
the fiscal year in connection with dividend reinvestment plans, if
applicable (see Instruction B.7): N/A
__________________________________________________________________
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year in reliance on rule 24f-2 (from Item 10):
$ x
(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans (from Item 11, if applicable):
+ 1873.
(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable):
- 1873.
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant to rule
24e-2 (if applicable):
+ x
(v) Net aggregate price of securities sold and issued during
the fiscal year in reliance on rule 24f-2 [line (i), plus line
(ii), less line (iii), plus line (iv)] (if applicable):
$ x
(vi) Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or regulation (see Instruction
C.6):
x x
(vii) Fee due [line (i) or line (v) multiplied by line (vi)]:
$ x
______________________
______________________
__________________________________________________________________
<PAGE>
13. Check box if fees are being remitted to the Commission's
lockbox depository as described in section 3a of the Commission's
Rules of Informal and Other Procedures (17 CFR 202.3a). [ ]
Date of mailing or wire transfer of filing fees to the
Commission's lockbox depository.
_________________________________________________________________
SIGNATURES
This report has been signed below by the following persons on
behalf of the issuer and in the capacities and on the dates
indicated.
s/ Terence P. Smith
By (Signature and Title) ______________________________
Terence P. Smith, Secretary
Date: February 15, 1996
<PAGE>
U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer: Declaration Fund, Suite 6160, 555
North Lane, Conshohocken, PA 19428
__________________________________________________________________
2. Name of each series or class of funds for which this notice is
filed: Camco 100% U. S. Treasury - Intermediate Term Fund Series
__________________________________________________________________
3. Investment Company Act File Number: 811-3176
Securities Act File Number: 2-72066
__________________________________________________________________
4. Last day of fiscal year for which this notice is filed:
December 31, 1995
__________________________________________________________________
5. Check box if this notice is being filed more than 180 days
after the close of the issuer's fiscal year for purposes of
reporting securities sold after the close of the fiscal year but
before termination of the issuer's 24f-2 declaration. [ ]
__________________________________________________________________
6. Date of termination of issuer's declaration under rule 24f-
2(a)(1), if applicable (see Instruction A.6):
__________________________________________________________________
7. Number and amount of securities of the same class or series
which had been registered under the Securities Act of 1933 other
than pursuant to rule 24f-2 in a prior fiscal; year, but which
remained unsold at the beginning of the fiscal year: None
__________________________________________________________________
8. Number and amount of securities registered during the fiscal
year other than pursuant to rule 24f-2: None
__________________________________________________________________
9. Number and aggregate sale price of securities sold during the
fiscal year: None
__________________________________________________________________
<PAGE>
10. Number and aggregate sale price of securities sold during the
fiscal year in reliance upon registration pursuant to rule 24f-2:
None
__________________________________________________________________
11. Number and aggregate sale price of securities issued during
the fiscal year in connection with dividend reinvestment plans, if
applicable (see Instruction B.7): N/A
__________________________________________________________________
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year in reliance on rule 24f-2 (from Item 10):
$ x
(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans (from Item 11, if applicable):
+ 3546.
(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable):
- 3546.
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant to rule
24e-2 (if applicable):
+ x
(v) Net aggregate price of securities sold and issued during
the fiscal year in reliance on rule 24f-2 [line (i), plus line
(ii), less line (iii), plus line (iv)] (if applicable):
$ x
(vi) Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or regulation (see Instruction
C.6):
x x
(vii) Fee due [line (i) or line (v) multiplied by line (vi)]:
$ x
______________________
______________________
__________________________________________________________________
<PAGE>
13. Check box if fees are being remitted to the Commission's
lockbox depository as described in section 3a of the Commission's
Rules of Informal and Other Procedures (17 CFR 202.3a). [ ]
Date of mailing or wire transfer of filing fees to the
Commission's lockbox depository.
_________________________________________________________________
SIGNATURES
This report has been signed below by the following persons on
behalf of the issuer and in the capacities and on the dates
indicated.
s/ Terence P. Smith
By (Signature and Title) ______________________________
Terence P. Smith, Secretary
Date: February 15, 1996
<PAGE>
U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer: Declaration Fund, Suite 6160, 555
North Lane, Conshohocken, PA 19428
__________________________________________________________________
2. Name of each series or class of funds for which this notice is
filed: Camco 100% U. S. Treasury - Total Return Fund Series
__________________________________________________________________
3. Investment Company Act File Number: 811-3176
Securities Act File Number: 2-72066
__________________________________________________________________
4. Last day of fiscal year for which this notice is filed:
December 31, 1995
__________________________________________________________________
5. Check box if this notice is being filed more than 180 days
after the close of the issuer's fiscal year for purposes of
reporting securities sold after the close of the fiscal year but
before termination of the issuer's 24f-2 declaration. [ ]
__________________________________________________________________
6. Date of termination of issuer's declaration under rule 24f-
2(a)(1), if applicable (see Instruction A.6):
__________________________________________________________________
7. Number and amount of securities of the same class or series
which had been registered under the Securities Act of 1933 other
than pursuant to rule 24f-2 in a prior fiscal; year, but which
remained unsold at the beginning of the fiscal year: None
__________________________________________________________________
8. Number and amount of securities registered during the fiscal
year other than pursuant to rule 24f-2: None
__________________________________________________________________
9. Number and aggregate sale price of securities sold during the
fiscal year: 5778 shares - $57,000.
__________________________________________________________________
<PAGE>
10. Number and aggregate sale price of securities sold during the
fiscal year in reliance upon registration pursuant to rule 24f-2:
5778 shares - $57,000.
__________________________________________________________________
11. Number and aggregate sale price of securities issued during
the fiscal year in connection with dividend reinvestment plans, if
applicable (see Instruction B.7): N/A
__________________________________________________________________
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year in reliance on rule 24f-2 (from Item 10):
$ 57,000.
(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans (from Item 11, if applicable):
+ 4,191.
(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable):
- 61,191.
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant to rule
24e-2 (if applicable):
+ x
(v) Net aggregate price of securities sold and issued during
the fiscal year in reliance on rule 24f-2 [line (i), plus line
(ii), less line (iii), plus line (iv)] (if applicable):
$ x
(vi) Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or regulation (see Instruction
C.6):
x x
(vii) Fee due [line (i) or line (v) multiplied by line (vi)]:
$ x
______________________
______________________
__________________________________________________________________
<PAGE>
13. Check box if fees are being remitted to the Commission's
lockbox depository as described in section 3a of the Commission's
Rules of Informal and Other Procedures (17 CFR 202.3a). [ ]
Date of mailing or wire transfer of filing fees to the
Commission's lockbox depository.
_________________________________________________________________
SIGNATURES
This report has been signed below by the following persons on
behalf of the issuer and in the capacities and on the dates
indicated.
s/ Terence P. Smith
By (Signature and Title) ______________________________
Terence P. Smith, Secretary
Date: February 15, 1996
February 6, 1996
Declaration Fund
Suite 6160, 555 North Lane
Conshohocken, PA 19428
Gentlemen:
As counsel for Declaration Fund, a Pennsylvania business trust (the
"Trust"), I have been asked to provide this opinion to you with respect to
the beneficial interest in the Trust which shall at all times be divided
into an unlimited number of transferable shares without par value that may
be issued in separate classes or series.
On March 14, 1990, the Board of Trustees of Consolidated Asset
Management Fund ("CAM Fund") approved the reorganization of CAM Fund as a
series fund authorized to issue its shares in one or more classes or
series, and the change of CAM Fund's name to "Declaration Fund". The Board
further authorized the creation of a series within Declaration Fund to be
designated "Declaration Cash Account", and authorized the exchange of the
whole and fractional shares of CAM Fund held by CAM Fund shareholders for
an equivalent number of whole and fractional shares of Declaration Cash
Account. Cam Fund's portfolio of assets would become Declaration Cash
Account's portfolio of assets.
On May 15, 1990, the shareholders of CAM Fund approved an amendment to
CAM Fund's trust indenture to (1) authorize the Fund to issue shares in
more than one series; (2) reclassify the Fund's outstanding shares as the
Declaration Cash Account series; and (3) change the name of the Fund to
Declaration Fund. On May 16, 1990, an Amended and Restated Declaration of
Trust was filed with the Pennsylvania Department of State to reflect that
the Trust existed pursuant to Chapter 95 of Section 15 of Pennsylvania
Consolidated Statutes Annotated, and that the Trust was being amended to
reflect, among other things, the above matters approved by the Board at its
March 14th meeting.
On February 12, 1992, the Board of Trustees of the Trust authorized
the creation of three additional series within Declaration Fund to be
designated, respectively, CAMCO 100% U.S. Treasury Short Term Fund, CAMCO
100% U.S. Treasury Intermediate Term Fund, and CAMCO 100% U.S. Treasury
Long Term Fund (subsequently renamed CAMCO 100% U.S. Treasury Total Return
Fund) (hereinafter collectively the "CAMCO Funds").
On August 23, 1995 the Board of Trustees approved an amendment to the
trust indenture to authorize the termination by the Trustees of any
separate series of Declaration Fund if there are no outstanding shares of
the separate series. At that time there were no outstanding shares of any
of the CAMCO Funds. The trust indenture was accordingly amended effective
October 5, 1995.
MATTERS CONSIDERED
In connection with rendering this opinion, I have examined and am
familiar with the Amended and Restated Declaration of Trust dated March 14,
1990, and Bylaws, as the same have been amended, and the Minutes of the
Trust's proceedings found in the official Minute Book of the Trust. In
particular, I have examined the language of the Declaration of Trust
relating to Limitation on Shareholder Liability, as set forth in Section VI
of the said document, which provides, in pertinent part, as follows:
The Trustees shall have no power to bind any shareholder personally
or to call upon any shareholder for the payment of any sum of money
or assessment whatsoever other than such sums as the shareholder
may agree to pay by way of subscription to any shares or
otherwise...
With respect to the good standing of the Trust I have relied upon the
absence of any evidence in the Trust's Minute Book of the Trust's adoption
of a plan of liquidation or dissolution in accordance with the provisions
of Paragraph 12.4 of the Declaration of Trust.
I am a member of the bar of, and authorized to practice law by the
Courts of the Commonwealth of Pennsylvania. Accordingly, my opinion is
limited to the substantive laws of this and no other jurisdiction.
OPINION
Based upon the foregoing and subject to the limitations stated herein,
it is my opinion that:
1. The Trust is a validly organized and subsisting entity under the
laws of the Commonwealth of Pennsylvania. The Trust is legally authorized
to issue shares representing units of beneficial interest in the Trust at
prices determined and in the manner prescribed by the Trust's currently
effective prospectus and statement of additional information, and provided
that such shares are properly registered under all applicable federal and
state securities laws.
2. The shares of the Trust issued with respect to the Declaration Cash
Account series and the CAMCO Funds series when sold, issued and delivered
in accordance with the provisions of the registration statement of the
Trust on Form N-1A, as amended and in compliance with any and all
applicable "blue sky" state law requirements, will be validly issued, fully
paid and non-assessable.
The opinion is given as of the date hereof. No opinion is given as to
the personal liability of any shareholders of the Trust solely arising by
reason of his or her having been a shareholder of the Trust.
I consent to the inclusion of this opinion as an Exhibit to the Rule
24f-2 Notice--1995.
Very truly yours,
s/ Martin V. Miller
MVM:bp Martin V. Miller
