Approval by the Board. This Plan shall not take effect until it has been approved, together with any related agreement, by votes of the majority of both (i) the Board of [Directors][Trustees] of the Fund and (ii) those [Directors][Trustees] of the Fund who are not “interested persons” of the Fund (as defined in the Investment Company Act of 1940) and have no direct or indirect financial interest in the operation of this Plan or any agreement related to it (the “Independent [Directors][Trustees]”), cast in person at a meeting called for the purpose of voting on this Plan and/or such agreement.
Appears in 5 contracts
Sources: Plan of Distribution (American High-Income Municipal Bond Fund, Inc), Plan of Distribution (American High Income Trust), Plan of Distribution (Limited Term Tax Exempt Bond Fund of America)
Approval by the Board. This Plan shall not take effect until it has been approved, together with any related agreement, by votes of the majority of both (i) the Board of [Directors][Trustees] of the Fund and (ii) those [Directors][Trustees] of the Fund who are not “interested persons” of the Fund (as defined in the Investment Company Act of 19401940 Act) and have no direct or indirect financial interest in the operation of this Plan or any agreement related to it (the “Independent [Directors][Trustees]”), cast in person at a meeting called for the purpose of voting on this Plan and/or such agreement.
Appears in 4 contracts
Sources: Plan of Distribution (American High-Income Municipal Bond Fund, Inc), Plan of Distribution (American High Income Trust), Plan of Distribution (Limited Term Tax Exempt Bond Fund of America)
Approval by the Board. This Plan shall not take effect until it has been approved, together with any related agreement, by votes of the majority of both (i) the Board of [Directors][Trustees] Directors of the Fund and (ii) those [Directors][Trustees] Directors of the Fund who are not “interested persons” of the Fund (as defined in the Investment Company Act of 1940) and have no direct or indirect financial interest in the operation of this Plan or any agreement related to it (the “Independent [Directors][Trustees]Directors”), cast in person at a meeting called for the purpose of voting on this Plan and/or such agreement.
Appears in 2 contracts
Sources: Plan of Distribution (American High Income Trust), Plan of Distribution (Cash Management Trust of America)