Securities and Exchange Commission
Washington, D.C. 20549
Rule 24f-2 Notice
for
MICHIGAN DAILY TAX FREE INCOME FUND, INC.
600 Fifth Avenue
New York, New York 10020
under the
Investment Company Act of 1940
Form N-1A File No. 2-11642
(i) Fiscal year for which this Notice is filed:
March 1, 1994 to February 28, 1995
(ii) Number or amount of securities of the same class or series, if any,
which had been registered under the Securities Act of 1933 other than
pursuant to Rule 24f-2 under the Investment Company Act of 1940 but
which remained unsold at the beginning of such fiscal year:
None
(iii) Number or amount of securities, if any, registered during such fiscal
year other than pursuant to Rule 24f-2:
58,552,458.92
(iv) Number or amount of securities sold during such fiscal year:
134,147,344.50*
(v) Number or amount of securities sold during such fiscal year in reliance
upon Rule 24f-2:
75,594,885.58
Exhibit: Opinion of Messrs. Battle Fowler LLP
* The filing fee of $ 0 is calculated in accordance with Rule 24f-2(c) and
Section 6(b) of the Securities Act of 1933 and based on the following: the
actual aggregate sales price of the $75,594,885.58 shares sold during such
fiscal year in reliance upon Rule 24f-2 was $75,594,885.58: the actual aggregate
dollar amount of shares redeemed during the fiscal year was $148,601,873.29,
none of which were previously used for reduction in filings made
pursuant to Rule 24e-2(a) and 75,594,885.58 of which are being so used for
reduction pursuant to this Rule 24f-2 Notice.
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SIGNATURE
Pursuant to the requirements of Rule 24f-2, Michigan Daily Tax Free
Income Fund, Inc., has duly caused this Rule 24f-2 Notice to be signed on its
behalf by the undersigned, thereunto duly authorized, in the City of New York
and State of New York, on this 27th day of April, 1995.
MICHIGAN DAILY TAX FREE INCOME FUND, INC.
By:/s/Steven W. Duff
Steven W. Duff
President
BATTLE FOWLER LLP
75 East 55th Street
New York, New York 10022
April 28, 1995
Michigan Daily Tax Free Income Fund, Inc.
600 Fifth Avenue
New York, New York 10020
Gentlemen:
We have acted as counsel to Michigan Daily Tax Free Income Fund, Inc., a
Maryland corporation (the "Fund"), in connection with the preparation of the
Rule 24f-2 Notice (the "Notice") covering 75,594,885.58 shares of Common Stock,
par value $.001 per share, of the Fund.
We have examine copies of the Articles of Incorporation, as amended and
By laws of the Fund, the Registration Statement, and such other corporate
records and documents, including the consent of the Board of Directors and the
minutes of the meeting of the Board of Directors of the Fund, as we have deemed
necessary for the purpose of this opinion. We have also examined such other
documents, papers, statutes and authorities as we have deemed necessary to form
a basis for the opinion hereinafter expressed. In our examination of such
material, we have assumed the genuineness of all signatures and the conformity
to original documents of fact material to such opinion, and we have relied upon
statements and certificates of officers and representatives of the Fund and
others.
Based upon the foregoing, we are of the opinion that 75,594,885.58
shares of Common Stock, par value $.001 per share of the Fund, the registration
of which the Notice makes definitive, were legally issued, dully paid and
nonassessable.
We hereby consent to the filing of this opinion as an exhibit to the
Rule 24f-2 Notice.
Very truly yours,
Battle Fowler LLP
