Section 424.112 - Withdrawals and Distributions(a) A pool participant must be able to make withdrawals on demand without penalty or other assessment on any business day, and settlement of funds must occur within a reasonable and customary period that does not exceed five business days after a withdrawal.(b) The pooling agreement must provide that the pool manager shall make a distribution to a pool participant, at the manager's discretion: (1) in cash in an amount equal to the fair market value at the time of the distribution of the participant's pro rata share of each of the pool's underlying assets;(2) in kind in an amount equal to a pro rata share of each underlying asset; or(3) in a combination of cash and in-kind distributions in an amount equal to a pro rata share of each underlying asset.(c) A distribution under Subsection (b) must be computed after subtracting all the investment pool's applicable fees and expenses.Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.