On November 22, 2010, the ICI filed suit in the Montana First Judicial Court challenging the Montana Securities Department’s authority to increase mutual fund notice filing fees by executive order. The Montana Securities Department had notified notice filers that effective January 1, 2011, the Department would begin charging notice filing fees at the class level, rather than at the portfolio (series) level. The ICI complaint alleges that the Montana blue sky law requires the payment of notice filing fees at the portfolio level, that the filing fees historically have been charged at the portfolio level and that any change to the fee structure must be enacted by the Montana legislature.