Definition:
A Regulated Investment Company is any domestic corporation that:
- Is registered throughout the tax year as a management company or unit investment trust under the Investment Company Act of 1940 or has an election in effect under the Investment Company Act of 1940 to be treated as a business development company, or
- Is a common trust fund or similar fund excluded from the definition of “investment company” and is not included in the definition of “common trust fund” under the Investment Company Act of 1940.
Code: § 851 Investment Company Act of 1940: 15 U.S.C. 80a–1 to 80b–2. See Page 2 and 3