Registration No. 2-94935
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Pre-Effective Amendment No.
Post-Effective Amendment No. 21
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. ____
CORTLAND TRUST, INC.
(Exact Name of Registrant as Specified Charter)
600 Fifth Avenue, New York, N.Y. 10020
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including Area Code: (212) 830-5220
Steven W. Duff
c/o Cortland Trust, Inc.
600 Fifth Avenue
New York, New York 10020
(Name and address of agent for service)
COPY TO: Jules Buchwald, Esq.
Kramer, Levin, Naftalis, Nessen, Kamin & Frankel
919 Third Avenue
New York, N.Y. 10022
It is proposed that this filing will become effective (check appropriate box)
[X] immediately upon filing pursuant to paragraph (b)
[ ] on (date) pursuant to paragraph (b)
[ ] 60 days after filing pursuant to paragraph (a)
[ ] on (date) pursuant to paragraph (a) of Rule 485
[ ] 75 days after filing pursuant to paragraph (a)(2)
[ ] on (date) pursuant to paragraph (a)(2) of Rule 485
<PAGE>
CALCULATION OF REGISTRATION FEE UNDER THE SECURITIES ACT OF 1933
- ----------------------------------------------------------------------
Proposed Proposed
Maximum Maximum
Securities Amount Offering Aggregate Amount of
Being Being Price per Offering Registration
Registered Registered Unit Price Fee
CAPITAL 371,603,238.61 $1.00* 371,603,238.61 $74,320.65**
STOCK
$.001 par value
- ----------------------------------------------------------------------
* Estimated solely for the purposes of determining the amount of the
registration fee.
** Calculated pursuant to Rule 24e-2(a) under the Investment Company Act of
1940. 5,429,093,383.42 shares were redeemed during the fiscal year ended
March 31, 1995, none of which are being used for "reduction" in this
amendment, none of which were previously so used in filings pursuant to
Rule 24e-2(a) or 24f-2(c) during the current fiscal year ending March 31,
1996.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, as amended, the Registrant certifies that it
meets all of the requirements for effectiveness of this Amendment to its
Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933
and has duly caused this Amendment to its Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of New
York, and State of New York, on the 17th day of November, 1995.
CORTLAND TRUST, INC.
By:
Steven W. Duff
President
Pursuant to the requirements of the Securities Act of 1933, this Amendment
to its Registration Statement has been signed below by the following persons in
the capacities and on the dates indicated.
SIGNATURE CAPACITY DATE
(1) Principal Executive Officer
Chairman &
Kenneth C. Ebbitt Director 11/17/95
(2) Principal Financial and Accounting Officer
Vice President &
Richard De Sanctis Treasurer 11/17/95
(3) Majority of the Directors
Owen Daly II Director
Albert R. Dowden Director
David C. Melnicoff Director
James L. Schultz Director
By:
Jules Buchwald
Attorney-in-Fact 11/17/95
* An executed copy of the power of attorney was filed as an Exhibit to
Post-Effective Amendment No. 10 to Registration Statement No. 2-94935 on
March 4, 1991.
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<LEGEND> The schedule contains summary financial information
extracted from the financial statements and supporting
schedules as of the end of the most current period and is
qualified in its entirety by reference to such financial
statements.
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<NAME> Cortland Trust, Inc.
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<NAME> Cortland General Money Market Fund
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<TABLE> <S> <C>
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<LEGEND> The schedule contains summary financial information
extracted from the financial statements and supporting
schedules as of the end of the most current period and is
qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0000759699
<NAME> Cortland Trust, Inc.
<SERIES>
<NUMBER> 2
<NAME> U.S. Government Fund
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<TABLE> <S> <C>
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<LEGEND> The schedule contains summary financial information
extracted from the financial statements and supporting
schedules as of the end of the most current period and is
qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0000759699
<NAME> Cortland Trust, Inc.
<SERIES>
<NUMBER> 3
<NAME> Municipal Money Market Fund
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Exhibit A
KRAMER, LEVIN, NAFTALIS, NESSEN, KAMIN & FRANKEL
919 Third Avenue
New York, N.Y. 10022-3852
(212) 715-8100
November 17, 1995
Cortland Trust, Inc.
600 Fifth Avenue
New York, New York 10022
Re: Cortland Trust, Inc. Registration No. 2-94935
Gentlemen:
We act as counsel to Cortland Trust, Inc., a Maryland corporation (the
"Company"), in connection with the public offering of the Company's shares of
capital stock, par value $.001 per share, and on various other securities and
general corporate matters. We understand that, pursuant to Rule 24e-2 under the
Investment Company Act of 1940, upon the effectiveness of Post-Effective
Amendment No. 21 to its Registration Statement on Form N-1A covering
371,603,238.61 shares of the Company (the "Shares"), the Company will, in
jurisdictions where the Company's Shares are qualified for sale, make a public
offering of the Shares at prices calculated in the manner disclosed in the
Company's current prospectuses.
We have reviewed, insofar as they relate or pertain to the company, the
Company's Registration Statements on Form N-1A filed with the Securities and
Exchange Commission under the Securities Act of 1933 and the Investment Company
Act of 1940, as amended to the date hereof, pursuant to which the Shares will be
sold (the "Registration Statements"). We have also examined originals or copies
certified or otherwise identified to our satisfaction of such documents,
corporate records and other instruments we have deemed necessary or appropriate
for the purposes of this opinion. For purposes of such examination, we have
assumed the genuineness of all signatures on original documents and the
conformity to the original documents of all copies submitted. We are members of
the Bar of the State of New York and do not hold ourselves out as experts as to
the law of any other state or jurisdiction.
Based upon the foregoing, we are of the opinion that:
<PAGE>
1. The Company is a valid and subsisting corporation of the State of
Maryland, authorized to issue four billion shares of its capital stock, with a
$.001 par value per share.
2. Upon the effectiveness of Post-Effective Amendment No. 21 to its
Registration Statement on Form N-1A covering the Shares and, assuming that the
Shares will be issued and sold in accordance with the Company's Articles of
Incorporation and Registration Statements and that the consideration to be
received therefor is not less than the value thereof, the Shares, when so
issued, will be legally issued, fully paid, and non-assessable.
3. No material events requiring disclosure in the company's prospectuses,
other than those listed in paragraph (b)(1) of Rule 485 under the Securities Act
of 1933, have occurred since the effective date of the company's most recent
Post-Effective Amendment, and Post-Effective Amendment No. 21 to the Company's
Registration Statement can be properly filed under paragraph (b) of Rule 485.
We consent to the inclusion of this opinion as an Exhibit to such
Post-Effective Amendment No. 21 to the Company's Registration Statement and to
the applications and registration statements filed in accordance with the
securities laws of the jurisdictions in which the Shares are to be offered.
Very truly yours,
KRAMER, LEVIN, NAFTALIS, NESSEN,
KAMIN & FRANKEL
