RULE 24F-2 NOTICE
SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
RE: Rule 24f-2 Notice for IMG Liquid Assets Fund, Inc.
Reg. No. 2-78054
Gentlemen:
On behalf of the above entitled issuer, we advise you as follows:
1. This notice is filed for the fiscal year ended June 30, 1995.
2. No securities of the issuer have been registered under the Securities
Act of 1933 other than under Rule 24f-2. All securities sold by the
issuers have been sold in reliance upon Rule 24f-2.
3. During the fiscal year the issuer sold 1,115,663,762 shares (exclusive
of stock dividends not deemed to be sales) for an aggregate sale price
of $1,115,663,762. During the same period the issuer redeemed
1,089,596,341 shares for an aggregate redemption price of
$1,089,596,341. Thus, the aggregate net sales price for the fiscal year
is $ 26,067,421.
4. Fees in the amount of $ 8,988.77 based upon the net sales shown in
paragraph 3 above have been sent via Fed wire procedures.
5. Attached hereto is a legal opinion that all shares sold during the
fiscal year were legally issued, fully paid and non-assessable.
Dated this 24th day of July, 1995.
IMG LIQUID ASSETS FUND, INC.
BY _____________________________
Ruth L. Prochaska, Secretary
<PAGE>
July 12, 1995
IMG Liquid Assets Fund, Inc.
2203 Grand Ave.
Des Moines, IA 50312-5338
Re: Registration of Securities Pursuant to Rule 24f-2
Ladies and Gentlemen:
Our opinion has been requested in connection with the registration of
shares of IMG Liquid Assets Fund, Inc. (the "Fund"), pursuant to Rule 24f-2
under the Investment Company Act of 1940. We have conducted such legal and
factual inquiries as we have deemed necessary under the circumstances. Based
upon such inquiries, all shares sold by the Fund during the fiscal year ended
June 30, 1995, were legally issued, fully paid and nonassessable.
We consent to the filing of this opinion in connection with the notice
to be filed with the Securities and Exchange Commission pursuant to Rule 24f-2.
Very truly yours,
JOHN C. MILES
For the Firm
