|
|
|
ICAP Bond (5-98)
|
|
|
Form 17-02-1421 (Ed. 5-98)
|
|
Page 17 of 19
|
|
|
|
Conditions and
Limitations
|
|
|
|
|
Termination
(continued)
|
|
If any partner, director, trustee, or officer or supervisory employee of an ASSURED not acting in collusion with an
Employee
learns of any
dishonest act committed by such
Employee
at any time, whether in the employment of the ASSURED or otherwise, whether or not such act is of the type covered under this Bond, and whether against the ASSURED or any other person or entity, the
ASSURED:
|
|
|
|
|
a. shall immediately remove such
Employee
from a position that would enable such
Employee
to cause the ASSURED to suffer a loss covered by this Bond; and
|
|
|
|
|
b. within forty-eight (48) hours of learning that an
Employee
has committed any
dishonest act, shall notify the COMPANY, of such action and provide full particulars of such dishonest act.
|
|
|
|
|
The COMPANY may terminate coverage as respects any
Employee
sixty (60) days after written notice is received by each ASSURED
Investment
Company
and the Securities and Exchange Commission, Washington, D.C. of its desire to terminate this Bond as to such
Employee
.
|
|
|
Other Insurance
|
|
14. Coverage under this Bond shall apply only as excess over any valid and collectible insurance,
indemnity or suretyship obtained by or on behalf of:
|
|
|
|
|
a. the ASSURED,
|
|
|
|
|
b. a
Transportation Company
, or
|
|
|
|
|
c. another entity on whose premises the loss occurred or which employed the person
causing the loss or engaged the messenger conveying the
Property
involved.
|
|
|
Conformity
|
|
15. If any limitation within this Bond is prohibited by any law controlling this Bonds
construction, such limitation shall be deemed to be amended so as to equal the minimum period of limitation provided by such law.
|
|
|
Change or Modification
|
|
16. This Bond or any instrument amending or affecting this Bond may not be changed or modified
orally. No change in or modification of this Bond shall be effective except when made by written endorsement to this Bond signed by an authorized representative of the COMPANY.
|
|
|
|
|
If this Bond is for a sole ASSURED, no change or modification which would adversely affect the rights of the ASSURED shall be effective prior to sixty
(60) days after written notice has been furnished to the Securities and Exchange Commission, Washington, D.C., by the acting party.
|
|
|
|
ICAP Bond (5-98)
|
|
|
Form 17-02-1421 (Ed. 5-98)
|
|
Page 18 of 19
|
|
|
|
Conditions And Limitations
|
|
|
|
|
Change or Modification (continued)
|
|
If this Bond is for a joint ASSURED, no charge or modification which would adversely affect the rights of the ASSURED shall be effective prior to
sixty (60) days after written notice has been furnished to all insured
Investment Companies
and to the Securities and Exchange Commission, Washington, D.C., by the COMPANY.
|
|
|
|
ICAP Bond (5-98)
|
|
|
Form 17-02-1421 (Ed. 5-98)
|
|
Page 19 of 19
|
IMPORTANT NOTICE TO POLICYHOLDERS
All of the members of the Chubb Group of Insurance companies doing business in the United States (hereinafter Chubb)
distribute their products through licensed insurance brokers and agents (producers). Detailed information regarding the types of compensation paid by Chubb to producers on US insurance transactions is available under the Producer
Compensation link located at the bottom of the page at www.chubb.com, or by calling 1-866-588-9478. Additional information may be available from your producer.
Thank you for choosing Chubb.
10-02-1295 (ed. 6/2007)
Important Notice:
The SEC Requires Proof of Your Fidelity Insurance Policy
Your company is now required to
file an electronic copy of your fidelity insurance coverage (Chubbs ICAP Bond policy) to the Securities and Exchange Commission (SEC), according to rules adopted by the SEC on June 12, 2006.
Chubb is in the process of providing your agent/broker with an electronic copy of your insurance policy as well as instructions on how to submit this
proof of fidelity insurance coverage to the SEC. You can expect to receive this information from your agent/broker shortly.
The electronic
copy of your policy is provided by Chubb solely as a convenience and does not affect the terms and conditions of coverage as set forth in the paper policy you receive by mail. The terms and conditions of the policy mailed to you, which are the same
as those set forth in the electronic copy, constitute the entire agreement between your company and Chubb.
If you have any questions, please
contact your agent or broker.
Form 14-02-12160 (ed. 7/2006)
POLICYHOLDER
DISCLOSURE NOTICE OF
TERRORISM INSURANCE COVERAGE
(for policies with no terrorism exclusion or sublimit)
Insuring Company: FEDERAL INSURANCE
COMPANY
You are hereby notified that, under the Terrorism Risk Insurance Act (the Act), this policy makes available to you insurance for losses
arising out of certain acts of terrorism. Terrorism is defined as any act certified by the Secretary of the Treasury of the United States, to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property or
infrastructure; to have resulted in damage within the United States, or outside the United States in the case of an air carrier or vessel or the premises of a United States Mission; and to have been committed by an individual or individuals as part
of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion.
You should know that the insurance provided by your policy for losses caused by acts of terrorism is partially reimbursed by the United States under the formula set forth in the Act. Under this formula,
the United States pays 85% of covered terrorism losses that exceed the statutorily established deductible to be paid by the insurance company providing the coverage. Beginning in 2016, the Federal share will be reduced by 1% per year until it
reaches 80%, where it will remain.
However, if aggregate insured losses attributable to terrorist acts certified under the Act exceed $100
billion in a calendar year, the Treasury shall not make any payment for any portion of the amount of such losses that exceeds $100 billion.
10-02-1281 (Ed. 03/2015)
If aggregate insured losses attributable to terrorist acts certified under the Act exceed $100 billion in a
calendar year and we have met our insurer deductible under the Act, we shall not be liable for the payment of any portion of the amount of such losses that exceeds $100 billion, and in such case insured losses up to that amount are subject to pro
rata allocation in accordance with procedures established by the Secretary of the Treasury.
The portion of your policys annual premium
that is attributable to insurance for such acts of terrorism is: $
-0-.
If you have any questions about this notice, please contact
your agent or broker.
10-02-1281 (Ed. 03/2015)
ENDORSEMENT/RIDER
|
|
|
Effective date of
|
|
|
this endorsement/rider: November 11, 2017
|
|
FEDERAL INSURANCE COMPANY
|
|
|
|
|
Endorsement/Rider No. 1
|
|
|
|
|
To be attached to and
|
|
|
|
|
form a part of Policy No. 81574663
|
Issued to: MEDALLION FINANCIAL CORPORATION
COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS
It is agreed that this insurance does not
apply to the extent that trade or economic sanctions or other similar laws or regulations prohibit the coverage provided by this insurance.
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and conditions of coverage.
All other terms, conditions and limitations of this Policy shall remain unchanged.
|
|
|
|
|
14-02-9228 (2/2010)
|
|
Page 1
|
|
|
ENDORSEMENT/RIDER
|
|
|
Effective date of
|
|
|
this endorsement/rider: November 11, 2017
|
|
FEDERAL INSURANCE COMPANY
|
|
|
|
|
Endorsement/Rider No. 2
|
|
|
|
|
To be attached to and
|
|
|
form a part of Bond No. 81574663
|
Issued to: MEDALLION FINANCIAL CORPORATION
DELETING VALUATION-OTHER PROPERTY AND AMENDING CHANGE OR MODIFICATION
ENDORSEMENT
In consideration of the premium charged, it is agreed that this Bond is amended as follows:
1.
|
The paragraph titled Other Property in Section 9, Valuation, is deleted in its entirety.
|
2.
|
The third paragraph in Section 16, Change or Modification, is deleted in its entirety and replaced with the following:
|
If this Bond is for a joint ASSURED, no change or modification which would adversely affect the rights of the ASSURED shall be effective
prior to sixty (60) days after written notice has been furnished to all insured
Investment Companies
and the Securities and Exchange Commission, Washington, D.C., by the COMPANY.
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged.
|
|
|
|
|
17-02-2437 (12/2006) rev.
|
|
Page 1
|
|
|
|
|
|
|
|
FEDERAL INSURANCE COMPANY
Endorsement No.: 3
Bond Number: 81574663
|
NAME OF ASSURED: MEDALLION FINANCIAL CORPORATION
NEW YORK AMENDATORY ENDORSEMENT
It is agreed that this Bond is amended as follows:
1.
|
By adding to Section 13, Termination, the following:
|
Bonds In Effect Sixty (60) Days Or Less
If this Bond has been in effect for less
than sixty (60) days and if it is not a renewal Bond, the COMPANY may terminate it for any reason by mailing or delivering to the ASSURED and to the authorized agent or broker, if any, written notice of termination at least sixty (60) days before
the effective date of termination.
Bonds In Effect More Than Sixty (60) Days
If this Bond has been in effect for sixty (60) days or more, or if it is a renewal of a Bond issued by the COMPANY, it may be terminated
by the COMPANY by mailing or delivering to the ASSURED and to the authorized agent or broker, if any, written notice of termination at least sixty (60) days before the effective date of termination. Furthermore, when the Bond is a renewal or has
been in effect for sixty (60) days or more, the COMPANY may terminate only for one or more of the reasons stated in 1-7 below.
|
1.
|
Nonpayment of premium;
|
|
2.
|
Conviction of a crime arising out of acts increasing the hazard insured against;
|
|
3.
|
Discovery of fraud or material misrepresentation in the obtaining of this Bond or in the presentation of a claim thereunder;
|
|
4.
|
Violation of any provision of this Bond that substantially and materially increases the hazard insured against, and which occurred subsequent to inception of the
current BOND PERIOD;
|
|
5.
|
If applicable, material physical change in the property insured, occurring after issuance or last annual renewal anniversary date of this Bond, which results in the
property becoming uninsurable in accordance with the COMPANYs objective, uniformly applied underwriting standards in effect at the time this Bond was issued or last renewed; or material change in the nature or extent of this Bond occurring
after issuance or last annual renewal anniversary date of this Bond, which causes the risk of loss to be substantially and materially increased beyond that contemplated at the time this Bond was issued or last renewed;
|
|
|
|
ICAP Bond - New York
|
|
|
Form 17-02-2863 (Rev. 7-03)
|
|
Page 1
|
|
6.
|
A determination by the Superintendent of Insurance that continuation of the present premium volume of the COMPANY would jeopardize the COMPANYs policyholders,
creditors or the public, or continuing the Bond itself would place the COMPANY in violation of any provision of the New York Insurance Code; or
|
|
7.
|
Where the COMPANY has reason to believe, in good faith and with sufficient cause, that there is a probable risk or danger that the
Property
will be destroyed by
the ASSURED for the purpose of collecting the insurance proceeds.
|
Notice Of Termination
Notice of termination under this SECTION shall be mailed to the ASSURED and to the authorized agent or broker, if any, at the address
shown on the DECLARATIONS of this Bond. The COMPANY, however, may deliver any notice instead of mailing it.
Return Premium
Calculations
The COMPANY shall refund the unearned premium computed pro rata if this Bond is terminated by the COMPANY.
2.
|
By adding a new Section reading as follows:
|
Section 17. Election To Conditionally Renew / Nonrenew This Bond
Conditional Renewal
If the COMPANY conditionally renews this Bond subject to:
|
1.
|
Change of limits of liability;
|
|
2.
|
Change in type of coverage;
|
|
3.
|
Reduction of coverage;
|
|
5.
|
Addition of exclusion; or
|
|
6.
|
Increased premiums in excess of 10%, exclusive of any premium increase due to and commensurate with insured value added; or as a result of experience rating,
retrospective rating or audit; the COMPANY shall send notice as provided in Notices Of Nonrenewal And Conditional Renewal immediately below.
|
Notices Of Nonrenewal And Conditional Renewal
|
1.
|
If the COMPANY elects not to renew this Bond, or to conditionally renew this Bond as provided herein, the COMPANY shall mail or deliver written notice to the ASSURED at
least sixty (60) but not more than one hundred twenty (120) days before:
|
|
a.
|
The expiration date; or
|
|
b.
|
The anniversary date if this Bond has been written for a term of more than one year.
|
|
|
|
ICAP Bond - New York
|
|
|
Form 17-02-2863 (Rev. 7-03)
|
|
Page 2
|
|
2.
|
Notice shall be mailed or delivered to the ASSURED at the address shown on the DECLARATIONS of this Bond and the authorized agent or broker, if any. If notice is
mailed, proof of mailing shall be sufficient proof of notice.
|
|
3.
|
Paragraphs 1. and 2. immediately above shall not apply when the ASSURED, authorized agent or broker, or another insurer has mailed or delivered written notice to the
COMPANY that the Bond has been replaced or is no longer desired.
|
3.
|
By adding to General Agreement B., Representations Made By Assured, the following:
|
No misrepresentation shall be deemed material unless knowledge by the COMPANY would have lead to the COMPANYS refusal to write this
Bond.
This Endorsement applies to loss discovered after 12:01 a.m. on November 11, 2017.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: November 10, 2017
|
|
|
ICAP Bond - New York
|
|
|
Form 17-02-2863 (Rev. 7-03)
|
|
Page 3
|
|
|
|
|
|
FEDERAL INSURANCE COMPANY
Endorsement No.: 4
Bond Number: 81574663
|
NAME OF ASSURED: MEDALLION FINANCIAL CORPORATION
SPECIFIC ENTITY EXCLUSION ENDORSEMENT
It is agreed that this Bond does not directly or
indirectly cover loss sustained by Medallion Bank or loss resulting from dishonest acts of any employee of Medallion Bank.
This Endorsement
applies to loss discovered after 12:01 a.m. on November 11, 2017.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: November 10, 2017
General Use
Form 17-02-6275 (Ed. 8-04)
CERTIFICATE OF THE SECRETARY OF
MEDALLION FINANCIAL CORP.
I, Marie Russo, hereby certify that I am the Secretary of Medallion Financial Corp., a Delaware corporation (the Company), and in such capacity, I hereby certify as follows:
1.
|
This certificate is being delivered to the Securities and Exchange Commission (the SEC) in connection with the filing of the Companys fidelity bond
(the Bond) pursuant to Rule 17g-1 of the Investment Company Act of 1940, as amended, and the SEC is entitled to rely upon this certificate for purposes of the filing.
|
2.
|
I am the duly elected, qualified and acting Secretary of the Company, and have custody of the corporate records of the Company and am a proper officer to make this
certification.
|
3.
|
Attached hereto as
Exhibit A
is a copy of the resolutions approved by the Board of Directors of the Company, including a majority of the Board of the Directors
who are not interested persons of the Company, approving the form and amount of the Bond.
|
4.
|
Premiums have been paid for the period from November 11, 2017 to November 11, 2018.
|
IN WITNESS WHEREOF, I have executed this Certificate as of the 15th day of November, 2017.
|
/s/ Marie Russo
|
Marie Russo
|
Secretary
|
Exhibit A
FORMS OF RESOLUTIONS
October 26, 2017
Fidelity Bond
RESOLVED, that the form and amount of the fidelity bond as previously described to the Board is hereby approved by the Board, including a
majority of the Board who are not interested persons of the Company, as required by Rule 17g-1 under the Investment Company Act of 1940 (Rule 17g-1).
RESOLVED, that the Chief Compliance Officer of the Company be, and hereby is, designated as the party responsible for making the necessary filings and giving the notices with respect to the fidelity bond
as required by paragraph (g) of Rule 17g-1.
General Ratification and Authorization
RESOLVED, that all actions taken and all agreements, instruments, reports and documents executed, delivered or filed through the date
hereof by the officers of the Company in the name and on behalf of the Company, in connection with the foregoing resolutions, are hereby approved, ratified and confirmed in all material respects; and
FURTHER RESOLVED, that the officers of the Company be and each is hereby authorized, empowered and directed to do and perform such acts
and things which such officer deems necessary or desirable to carry out the foregoing resolutions, with such modifications, revisions, amendments or further agreements, instruments, or documents as such officer, in his or her discretion may deem
necessary or desirable and in the best interest of the Company, and such officers taking of any such action, for and on behalf and in the name of the Company, and such officers execution, delivery and filing, for and on behalf and in the
name of the Company, of any such agreement, instrument or document shall be conclusive evidence that he or she did so deem the same to be necessary or desirable and in the best interest of the Company.
Medallion Financial (NASDAQ:MFIN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Medallion Financial (NASDAQ:MFIN)
Historical Stock Chart
From Apr 2023 to Apr 2024