Exhibit (i)(1)(f)
PETER A. QUIST
ATTORNEY AT LAW
389 EAST BRANDON DRIVE
BISMARCK, ND 58503
November 29, 2000
Ranson Managed Portfolios
1 North Main
Minot, North Dakota 58703
Re: Ranson Managed Portfolios
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Gentlemen:
I have served as counsel for the Ranson Managed Portfolios (the "Fund"),
which proposes to offer and sell shares of beneficial interest of series of
the Fund designated The Kansas Municipal Fund, The Kansas Insured Intermediate
Fund, The Nebraska Municipal Fund, and The Oklahoma Municipal Fund
(collectively the "Shares") in the manner and on the terms set forth in Post-
Effective Amendment No. 44 (the "Amendment") to its Registration Statement to
be filed on or about November 29, 2000, with the Securities and Exchange
Commission under the Investment Company Act of 1940, as amended, and the
Securities Act of 1933, as amended.
In connection therewith, I have examined such pertinent records and
documents and matters of law as I have deemed necessary in order to enable me
to express the opinions hereinafter set forth, including the Fund's
Declaration of Trust, Bylaws, Registration Statement, actions of the Fund's
Board of Trustees at its organizational meeting and a certificate executed by
an appropriate officer of the Fund certifying and attaching copies of the
Fund's Declaration of Trust, Bylaws, and certain actions of the Board of
Trustees of the Fund authorizing the issuance of Shares.
In such examination, I have assumed the genuineness of all signatures, the
conformity to the originals of all of the documents reviewed by me as copies,
the authenticity and completeness of all original documents reviewed by me in
original or copy form, and the legal competence of each individual executing
any document.
Based upon the foregoing, I am of the opinion that:
The Shares of the Fund which are currently being registered by the
Amendment referred to above may be legally and validly issued from time to
time in accordance with the Fund's Declaration of Trust dated August 10,
1990, the Fund's Bylaws, and subject to compliance with the Securities Act of
1933, as amended, the Investment Company Act of 1940, as amended, and
applicable state laws regulating the sale of securities and the receipt by the
Fund of a purchase price of not less than the net asset value per share and
such Shares, when so sold, will be legally issued and outstanding, fully paid
and non-assessable, except that as set forth in the Amendment, shareholders
of the Fund may under certain circumstances be held personally liable for its
obligations.
I hereby consent to the filing of this opinion as an exhibit to the
Amendment (File No. 33-6153) relating to the Shares referred to above, to the
use of my name, and to the reference to me in said Amendment.
Respectfully submitted,
/s/ PETER A. QUIST
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PETER A. QUIST
