SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-18f-1
NOTIFICATION OF ELECTION PURSUANT TO RULE 18f-1 UNDER
THE INVESTMENT COMPANY ACT OF 1940.
The Chapman Funds, Inc.
DEM Equity Fund
Exact Name of Registrant
NOTIFICATION OF ELECTION
The undersigned registered open-end investment company hereby
notifies the Securities and Exchange Commission that it elects to commit
itself to pay in cash all redemptions by a shareholder of record as
provided by Rule 18f-1 under the Investment Company Act of 1940. It is
understood that this election is irrevocable while such Rule is in
effect unless the Commission by order upon application permits the
withdrawal of this Notification of Election.
SIGNATURE
Pursuant to the requirements of Rule 18f-1 under the Investment
Company Act of 1940, the registrant has caused this notification of
election to be duly executed on its behalf in the city of Baltimore and
the state of Maryland on the 28th day of October, 1997.
THE CHAPMAN FUNDS,INC.
DEM EQUITY FUND
By: /s/ NATHAN A. CHAPMAN, JR.
Nathan A. Chapman, Jr.
President
(Title)
Attest: /s/ EARL U. BRAVO, SR.
Earl U. Bravo, Sr.
Secretary
(Title)
