Art. 108

(Art. 78 para. 1 and 2 CISA)

1. The paying agent shall be a bank under the Federal Act on Banks and Savings Banks of 8 November 1934¹.²
2. Where the fund regulations provide for the delivery of unit certificates, the custodian bank, at the investor’s request, certifies his or her rights in securities (Art. 965 CO³) without par value, in registered form and structured as order instruments (Art. 967 and 1145 CO).⁴
3. Unit certificates may only be issued after payment of the issue price.
4. The issuing of fractions of units shall only be permitted in the case of investment funds.