U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
ANNUAL NOTICE OF SECURITIES SOLD
PURSUANT TO RULE 24f-2
Read instructions at end of Form before preparing Form.
Please print or type.
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1. Name and address of issuer:
The Tuscarora Investment Trust
312 Walnut Street, 21st Floor
Cincinnati, Ohio 45202
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2. Name of each series or class of funds for which this notice is filed:
Oak Value Fund
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3. Investment Company Act File Number: 811-9000
Securities Act File Number: 33-90358
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4. Last day of fiscal year for which this notice is filed:
June 30, 1997
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5. Check box if this notice is being filed more than 180 days after the
close of the issuer's fiscal year for purposes of reporting securities
sold after the close of the fiscal year but before termination of the
issuer's 24f-2 declaration:
[ ]
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6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
applicable (see Instruction A.6):
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7. Number and amount of securities of the same class or series which had
been registered under the Securities Act of 1933 other than pursuant to
rule 24f-2 in a prior fiscal year, but which remained unsold at the
beginning of the fiscal year:
None
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<PAGE>
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
None
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9. Number and aggregate sale price of securities sold during the fiscal
year:
NUMBER OF SHARES SALE PRICE
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2,752,396 $51,487,814
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10. Number and aggregate sale price of securities sold during the fiscal year in
reliance upon registration pursuant to rule
24f-2:
NUMBER OF SHARES SALE PRICE
---------------- ----------
2,752,396 $51,487,814
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11. Number and aggregate sale price of securities issued during the fiscal year
in connection with dividend reinvestment plans, if applicable (see
Instruction B.7):
NUMBER OF SHARES SALE PRICE
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132,044 $2,518,348
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12. Calculation of registration fee:
(i) Aggregate sale price of securities
sold during the fiscal year in
reliance on rule 24f-2 (from Item 10): $51,487,814
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(ii) Aggregate price of shares issued in
connection with dividend reinvestment
plans (from Item 11, if applicable): + 2,518,348
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(iii) Aggregate price of shares redeemed or
repurchased during the fiscal year
(if applicable): - 5,399,389
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(iv) Aggregate price of shares redeemed or
repurchased and previously applied as
a reduction to filing fees pursuant to
rule 24e-2 (if applicable): + NONE
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<PAGE>
(v) Net aggregate price of securities sold
and issued during the fiscal year in
reliance on rule 24f-2 [line (i), plus
line (ii), less line (iii), plus line
(iv)] (if applicable): + 48,606,773
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(vi) Multiplier prescribed by Section 6(b)
of the Securities Act of 1933 or other
applicable law or regulation (see
Instruction C.6): x .0003030303
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(vii) Fee due [line (i) or line (v) multiplied
by line (vi)]: $ 14,729.33
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Instruction: Issuers should complete lines (ii), (iii), (iv), and (v)
only if the form is being filed within 60 days after the
close of the issuer's fiscal year. See Instruction C.3.
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13. Check box if fees are being remitted to the Commission's lockbox depository
as described in section 3a of the Commission's Rules of Informal and Other
Procedures (17 CFR 202.3a).
[x]
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
August 26, 1997
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SIGNATURES
This report has been signed below by the following persons on behalf of
the issuer and in the capacities and on the dates indicated.
By (Signature and Title)* /s/ Mark J. Seger
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Mark J. Seger, Assistant Treasurer
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Date August 26, 1997
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*Please print the name and title of the signing officer below the signature.
<PAGE>
Countrywide
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FUND SERVICES, INC.
August 21, 1997
The Tuscarora Investment Trust
312 Walnut Street, 21st Floor
Cincinnati, Ohio 45202
Ladies and Gentlemen:
Re: Rule 24f-2 Opinion
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I have been requested to render an opinion in connection with the
filing by The Tuscarora Investment Trust (herein referred to as the
"Trust") of a Rule 24f-2 Notice with respect to the fiscal year ended
June 30, 1997 (the "Notice").
Reference is made to paragraph 10 of such Notice, wherein the Trust
reports the sale of 2,752,396 shares of its Oak Value Fund during the
fiscal year ended June 30, 1997 in reliance upon registration under
the Securities Act of 1933 pursuant to Rule 24f-2 under the Investment
Company Act of 1940, and paragraph 11 of such Notice, wherein the
Trust reports the aggregate issuance of 132,044 shares of such series
in connection with dividend reinvestment plans.
I have examined the Agreement and Declaration of Trust of the Trust,
the Bylaws of the Trust, records of the Trust concerning certain
actions by the Trustees of the Trust, the current Prospectus of the
Trust and supplements thereto, and the form of the Rule 24f-2 Notice.
Based upon the foregoing and assuming that all of such shares were
sold in accordance with the terms of the Prospectus in effect at the
time of sale, in my opinion the above-mentioned shares of the Trust
have been legally issued and are fully paid and non-assessable by the
Trust.
I consent to the submission of a copy of this opinion to the
Securities and Exchange Commission in connection with the filing of
the Trust's Rule 24f-2 Notice for the fiscal year ended June 30, 1997,
as contemplated in Rule 24f-2(b)(1) under the Investment Company Act
of 1940.
Very truly yours,
/s/ John F. Splain
John F. Splain
Counsel
312 Walnut Street . Cincinnati, Ohio 45202 . 513.629.2000 . 800.543.8721
