3824.03.04  GROUP IV FUNDS

Group IV funds are treated in the same ways as those in Group II, as well as by 
the purchase of investment certificates or withdrawable shares in chartered 
savings and loan associations and savings accounts of federal savings and 
loan associations, provided such associations are doing business in the State 
of California and have their accounts insured by the Federal Savings and 
Loan Insurance Corporation.  Also, investment certificates or withdrawable 
shares in federal or state credit unions which are doing business in the State 
of California may be purchased, provided such associations have their 
accounts insured by the National Credit Union Administration.  Any money 
so invested or deposited in certificates, shares, or accounts must be fully 
covered by such insurance.