Rule 24f-2 Notice for First Investors Multi-State Insured Tax Free Fund
("Fund")
95 Wall Street, New York, New York 10005
1933 Act No. 33-4077; 1940 Act No. 811-4623
NOTICE IS HEREBY GIVEN that the Fund having previously filed in its
registration statement a declaration that an indefinite number of its shares
(the "Shares") were being registered pursuant to Rule 24f-2 (the "Rule") of
the Investment Company Act of 1940, now elects to continue such indefinite
registration and provides the following information:
(i) the fiscal year for which this notice is filed is: 1994
(ii) the number of Shares which had been registered other than pursuant
to the Rule, but which remained unsold at the beginning of the above fiscal
year were as follows: None
(iii) the number of Shares registered other than pursuant to the Rule
during the above fiscal year were as follows: None
(iv) the number of Shares sold during the above fiscal year were as
follows: 4,014,266.901
(v) the number of Shares sold during the above fiscal year in reliance
upon registration pursuant to the Rule were as follows*: 4,014,266.901
Pursuant to the requirements of the Investment Company Act of 1940, the
undersigned Registrant has caused this Notice to be signed on its behalf this
21st day of February, 1995
FIRST INVESTORS MULTI-STATE INSURED
TAX FREE FUND
By: /s/C. Durso
Concetta Durso, Vice President
* The calculation of the aggregate sales price is made pursuant to the Rule
as follows:
<TABLE>
<CAPTION>
Value of Value of Shares
Shares Sold Redeemed Net Filing Fee
<C> <C> <C> <C>
$50,776,609.75 $48,598,065.12 $2,178,544.63 $751.23
</TABLE>
<PAGE>
KIRKPATRICK & LOCKHART
South Lobby - 9th Floor
1800 M Street, N.W.
Washington, D.C. 20036-5891
February 21, 1995
First Investors Multi-State Insured Tax Free Fund
95 Wall Street, 23rd Floor
New York, New York 10005
Re: Rule 24f-2 Notice
Ladies and Gentlemen:
First Investors Multi-State Insured Tax Free Fund (the "Trust"), is a
business trust organized under the laws of the Commonwealth of Massachusetts.
We understand that the Trust is about to file a Rule 24f-2 Notice pursuant to
Rule 24f-2 under the Investment Company Act of 1940, as amended, for the
purpose of making definite the number of shares which it has registered under
the Securities Act of 1933, as amended, and which it sold during its fiscal
year ended December 31, 1994.
We have, as counsel, participated in various business and other matters
relating to the Trust. We have examined copies, either certified or
otherwise proved to be genuine, of its Declaration of Trust and by-laws, as
now in effect, and certain other certificates of officers of the Trust
relating to its organization and operation, and we generally are familiar
with its business affairs. You have advised us that, during its fiscal year
ended December 31, 1994, the Trust sold 4,014,266.901 shares of beneficial
interest ("Shares") at an aggregate sales price of $50,776,609.75 and redeemed
Shares at an aggregate redemption price of $48,598,065.12. Based on the
foregoing, it is our opinion that:
1. The Trust is authorized to issue an unlimited number of Shares,
including those Shares now issued and outstanding.
2. The 4,014,266.901 Shares sold during the Trust's fiscal year end
December 31, 1994, the registration of which will be made definite by the
filing of a Rule 24f-2 Notice, were legally issued, fully paid and
nonassessable.
The Trust is an entity of the type commonly known as a "Massachusetts
business trust." Under Massachusetts law, shareholders could, under certain
circumstances, be held personally liable for the obligations of the Trust.
The Declaration of Trust states that the trustees of the Trust shall have no
power to bind any shareholder personally or to call upon him for the payment
of any sum other than such as the shareholder may agree to pay by way of
subscription for Trust shares, and every document entered into on behalf of
the Trust must include a recitation limiting the obligation represented
thereby to the Trust and its assets. The Declaration of Trust further
provides that any shareholder subject to any personal liability solely by
reason of his having been a shareholder is entitled to be held harmless from
and indemnified against all loss and expense arising from such liability and
the Trust shall, upon request by the shareholder, assume the defense of any
such claim made against that shareholder and satisfy any judgement thereon.
Thus, the risk of a shareholder incurring financial loss on account of
shareholder liability is limited to circumstances in which the Trust would be
unable to meet its obligations.
We hereby consent to this opinion accompanying the Rule 24f-2 Notice
which you are about to file with the Securities and Exchange Commission. We
also consent to the reference to our firm in the prospectus filed as part of
the Trust's registration statement.
Very truly yours,
KIRKPATRICK & LOCKHART
By /s/ Robert J. Zutz
Robert J. Zutz
