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Securities and Exchange Commission v. Charles Schwab Investment

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION


March 8, 2011

SECURITIES AND EXCHANGE COMMISSION, PLAINTIFF,
v.
CHARLES SCHWAB INVESTMENT MANAGEMENT, CHARLES SCHWAB & CO.,
INC., AND SCHWAB INVESTMENTS, DEFENDANTS.

The opinion of the court was delivered by: William Alsup United States District Judge

[PROPOSED] ORDER APPOINTING TAX ADMINISTRATOR

The Court having reviewed the Securities and Exchange Commission's ("Commission") motion to appoint Damasco & Associates LLP as Tax Administrator and for good cause shown, IT IS HEREBY ORDERED:

1. Damasco & Associates LLP is appointed as Tax Administrator to execute all 20 income tax reporting requirements, including the preparation and filing of tax returns, with respect to funds under this Court's jurisdiction in this case (the "Distribution Fund").

2. Damasco & Associates LLP shall be designated the administrator of the Distribution 23 Fund, pursuant to section 468B(g) of the Internal Revenue Code (IRC), 26 U.S.C. § 468B(g), 24 and related regulations, and shall satisfy the administrative requirements imposed by those regulations, including but not limited to (a) obtaining a taxpayer identification number, (b) filing 2 applicable federal, state, and local tax returns and paying taxes reported thereon out of the 3 Distribution Fund, and (c) satisfying any information, reporting, or withholding requirements 4 imposed on distributions from the Distribution Fund. The Tax Administrator shall 5 contemporaneously provide copies of all such filings to the Commission's counsel of record. 6 3. The Tax Administrator shall, at such times as the Tax Administrator deems necessary 7 to fulfill the tax obligations of the Distribution Fund, request that the Commission's counsel of 8 record file with the Court a motion, supported by the Tax Administrator's declaration of the 9 amount of taxes due, to transfer funds from the Distribution Fund on deposit with the Court to 10 pay any tax obligations of the Distribution Fund. 11 4. The Tax Administrator shall be entitled to charge reasonable fees for tax compliance 12 services and related expenses in accordance with its agreement with the Commission. The Tax Administrator shall, at such times as the Tax Administrator deems appropriate, submit a declaration of fees and expenses to Charles Schwab Investment Management and Charles Schwab & Co., Inc. for payment. A copy of each declaration also shall be sent to the Commission's counsel of record.

20110308

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