Examlex
Which of the following is not a true statement about mutual funds?
Natural Persons
Refers to human beings as individuals, endowed with rights and responsibilities under the law, distinguished from legal or artificial persons, such as corporations.
Reasonable Restrictions
Limitations that are considered fair or sensible, often applied in legal contexts to balance individual rights and societal interests.
Preemption
A doctrine under which certain federal laws preempt, or take precedence over, conflicting state or local laws.
Police Powers
The inherent authority of a government to regulate behavior and enforce order within its territory, often for the protection of health, safety, welfare, and morals of its citizens.
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