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Financial Intermediary Class Distribution Plan

 

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Title:

Financial Intermediary Class Distribution Plan

Entities:

Legg Mason Investment Trust Inc

Date:

2003

Size:

Preview shows 3KB of 11KB total

Price:

$35

ID:

#2428369

 

 

► Plans ► Distribution ► Class ► Financial Intermediary Class Distribution Plans

 

 

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                FINANCIAL INTERMEDIARY CLASS DISTRIBUTION PLAN OF

LEGG MASON INVESTMENT TRUST, INC.
LEGG MASON OPPORTUNITY TRUST

WHEREAS, Legg Mason Investment Trust, Inc. (the "Corporation") is an
open-end management investment company registered under the Investment Company
Act of 1940, as amended ("1940 Act"), and has offered, and intends to continue
offering, for public sale shares of common stock known as the Legg Mason
Opportunity Trust (the "Fund");

WHEREAS, the Corporation has registered the offering of its shares of
common stock under a Registration Statement filed with the Securities and
Exchange Commission and that Registration Statement is in effect as of the date
hereof;

WHEREAS, the Corporation desires to adopt a Distribution Plan pursuant
to Rule 12b-1 under the 1940 Act with respect to the Fund's Financial
Intermediary Class of shares (the "Class"), and the Board of Directors has
determined that there is a reasonable likelihood that adoption of the
Distribution Plan will benefit the Fund and shareholders of the Class;

WHEREAS, the Corporation has employed Legg Mason Wood Walker,
Incorporated ("Legg Mason") as principal underwriter of the shares of the
Corporation;

NOW, THEREFORE, the Corporation hereby adopts this Distribution Plan
(the "Plan") in accordance with Rule I2b-1 under the 1940 Act on the following
terms and conditions:

1. A. The Fund shall pay to Legg Mason, as compensation For
Legg Mason's services as principal underwriter of the Fund's Financial
Intermediary Class shares, a distribution fee at the rate hot to exceed 0.15% on
an annualized basis of the average daily net assets attributable to Financial
Intermediary Class shares of the Fund, such fee to be calculated and accrued
daily and paid monthly or at such other intervals as the Board shall determine.

B. The Fund shall pay to Legg Mason, as compensation for
ongoing services provided to the investors in Financial Intermediary Class
shares of the Fund, a service fee at the rate not to exceed 0.25% on an
annualized basis of the average daily net assets attributable to Financial
Intermediary Class shares of the Fund, such fees to be calculated and accrued
daily and paid monthly or at such other intervals as the Board shall determine.

C. The Fund may pay a distribution or service fee to
Legg Mason at a lesser rate than the fees specified in paragraph 1.A and 1.B..
respectively, of this Plan as approved in the manner specified in paragraph 3 of
this Plan. Amounts payable hereunder are payable without regard to the
aggregate amount that may be paid over the years, provided that, so long as the
limitations set forth in Conduct Rule 2830 of the National Association of
Securities Dealers, Inc. ("NASD") remain in effect and apply to distributors

 

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