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July 25, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549-1004
Attention: Document Control - EDGAR
Re: Rule 24f-2 Notice for
IDS Selective Fund, Inc.
SEC File No. 2-10700/811-499
Commissioners:
[i] In accordance with the provisions of
Rule 24f-2, IDS Selective Fund, Inc. hereby
files its Rule 24f-2 Notice for the fiscal
period ended May 31, 1996 ("Fiscal Period").
[ii] Amount of securities registered other
than under 24f-2 which were unsold at
the beginning of the fiscal period.* $ 98,675,282
[iii] Amount of securities registered during the
fiscal period other than under 24f-2.** $ 0
[iv] Amount of securities sold during the
fiscal period.*** $126,437,689
[v] Amount of securities sold pursuant to 24f-2. $ 27,762,407
[vi] Fee $27,762,407 / 2900 $ 9,573.24
* 10,408,785 shares x $9.48 on July 17, 1996
** 0 shares x $9.48 on July 17, 1996
*** Sales of $332,538,164 minus redemptions of $206,100,475
Enclosed please find an opinion of counsel.
A check for the filing fee in the amount of $9,573.24 has been
electronically wired.
If there are any questions, please contact the undersigned.
Very truly yours,
IDS SELECTIVE FUND, INC.
William R. Pearce
President and Chief Executive Officer
WRP/KW/dgm
EXHIBIT INDEX
(b) (10) OPINION OF COUNSEL
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July 25, 1996
IDS Selective Fund, Inc.
IDS Tower 10
Minneapolis, Minnesota 55440-0010
Gentlemen:
I have examined the Articles of Incorporation and the By-Laws of
the Company and all necessary certificates, permits, minute books,
documents and records of the Company and the applicable statutes of
the State of Minnesota, and it is my opinion:
(a) That the Company is a corporation duly organized and existing
under the laws of the State of Minnesota with an authorized
capital stock of 10,000,000,000 shares, all of $.01 par
value, that such shares may be issued as full or fractional
shares and that on May 31, 1996, 192,141,119 shares were
issued and outstanding;
(b) That all such authorized shares are, under the laws of the
State of Minnesota, redeemable as provided in the Articles of
Incorporation of the Company and upon redemption shall have
the status of authorized and unissued shares;
(c) That the Company registered on June 13, 1978 an indefinite
number of shares pursuant to Rule 24f-2 and is herewith
filing a Rule 24f-2 Notice covering the shares sold during
its Fiscal Period ended May 31, 1996; and
(d) That shares which were sold at not less than their par value
and in accordance with applicable federal and state
securities laws were legally issued, fully paid and
nonassessable.
I hereby consent that the foregoing opinion may be used in
connection with the Rule 24f-2 Notice.
Very truly yours,
William R. Pearce
901 S. Marquette Ave., Suite 2810
Minneapolis, Minnesota 55402-3268
