POLICYHOLDER NOTICE
Thank you
for purchasing insurance from a member company of American International
Group, Inc. (AIG). The AIG
member companies generally pay compensation to brokers and independent agents, and may have paid compensation in connection
with your policy. You can review and obtain
information about the nature and range of compensation paid by AIG
member companies to brokers and independent agents in the United States by visiting our
website at www.aig.com/producer-compensation
or by calling 1-800-706-3102.
91222 (9/16)
National Union Fire Insurance Company of Pittsburgh,
Pa.
A capital stock company
POLICY NUMBER: 04-190-80-19 REPLACEMENT OF POLICY NUMBER: 03-985-12-45
INVESTMENT COMPANY BLANKET BOND
DECLARATIONS
Item 1.
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Name of Insured (herein called Insured):
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BNY MELLON LARGE CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
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Principal Address
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200 PARK AVE
NEW YORK, NY 10166
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Item 2.
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Bond Period: from 12:01a.m. January 31, 2021 to 12:01a.m.
January 31, 2022 the effective date of the termination or cancellation of this bond, standard time at the Principal Address
as to each of said dates.
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Item 3.
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Limit of Liability--Subject to Sections 9, 10 and 12 hereof,
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Amount applicable to
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Limit of Liability
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Deductible
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Insuring Agreement (A)-FIDELITY
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$10,000,000
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$50,000
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Insuring Agreement (B)-AUDIT EXPENSE
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$250,000
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$5,000
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Insuring Agreement (C)-ON PREMISES
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$10,000,000
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$50,000
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Insuring Agreement (D)-IN TRANSIT
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$10,000,000
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$50,000
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Insuring Agreement (E)-FORGERY OR ALTERATION
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$10,000,000
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$50,000
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Insuring Agreement (F)-SECURITIES
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$10,000,000
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$50,000
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Insuring Agreement (G)-COUNTERFEIT CURRENCY
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$10,000,000
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$50,000
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Insuring Agreement (H)-STOP PAYMENT
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$250,000
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$25,000
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Insuring Agreement (I)-UNCOLLECTIBLE ITEMS OF DEPOSIT
Optional Insuring Agreements and Coverages:
Insuring Agreement (J)-COMPUTER SYSTEMS
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$1,000,000
$10,000,000
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$25,000
$50,000
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FRAUD
Insuring Agreement (K)-UNAUTHORIZED
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see endorsement
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SIGNATURES
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# 34
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©All rights reserved.
1
Insuring Agreement (L)-AUTOMATED PHONE SYSTEMS
$10,000,000 $50,000
If “Not Covered” is inserted
above opposite any specified Insuring Agreement or Coverage, such Insuring Agreement or Coverage and any other reference thereto
in this bond shall be deemed to be deleted therefrom.
Item 4. Offices or Premises Covered--Offices
acquired or established subsequent to the
effective date of this bond are covered according to the terms of General Agreement A. All the Insured's offices
or premises in existence at the time this bond becomes effective are covered under this bond except the offices or premises located
as follows:
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Item 5.
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The liability of the Underwriter is subject to the terms of the following riders attached hereto:
Endorsement #1, #2, #3, #4, #5, #6, #7, #8, #9, #10, #11,
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#12, #13, #14, #15, #16, #17, #18, #19, #20, #21, #22, #23, #24, #25,
#26, #27, #28, #29, #30, #31, #32, #33, #34, #35, #36, #37, #38, #39
Item 6. The Insured
by the acceptance of this bond gives to the Underwriter terminating or cancelling prior bond(s) or policy(ies) No.(s) 03-985-12-45
such termination or cancellation to be effective as of the time this bond becomes effective.
PREMIUM: $47,330
©All rights reserved.
2
IN WITNESS WHEREOF, the Insurer
has caused this Policy to be signed by its President, Secretary and Authorized Representative. This Policy shall not be valid
unless signed below at the time of issuance by an authorized representative of the insurer.
______________ _________________________
PRESIDENT SECRETARY
National Union Fire Insurance National Union Fire Insurance Company of
Company of Pittsburgh,
Pa. Pittsburgh, Pa.
AUTHORIZED REPRESENTATIVE
__________________ _______ __________________
COUNTERSIGNED AT DATE COUNTERSIGNATURE
MARSH USA INC.
1166 AVENUE OF THE AMERICAS NEW YORK, NY 10036-3712
7235111
©All rights reserved.
3
National Union Fire Insurance Company of Pittsburgh, Pa.
A capital stock company
INVESTMENT
COMPANY BLANKET BOND
The
Underwriter, in consideration
of an agreed
premium, and subject
to the Declarations made
a part hereof, the
General Agreements, Conditions and
Limitations and other
terms of this
bond, agrees with
the Insured, in
accordance with the
Insuring Agreements hereof
to which an amount
of insurance is
applicable as set
forth in Item 3 of the
Declarations and with
respect to loss sustained
by the Insured
at any time
but discovered during
the Bond Period,
to indemnify and hold harmless
the Insured for:
INSURING AGREEMENTS
Loss
resulting from any dishonest
or fraudulent act(s), including
Larceny or Embezzlement
committed by an
Employee, committed anywhere
and whether committed
alone or in collusion
with others, including loss of
Property resulting from such
acts of an
Employee, which Property
is held by
the Insured for
any purpose or
in any capacity
and whether so
held gratuitously or not and whether
or not the Insured
is liable therefor.
Dishonest or fraudulent act(s) as used in
this Insuring Agreement shall mean only dishonest or fraudulent act(s) committed by such Employee with the manifest intent:
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(a)
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to cause
the Insured to sustain
such loss; and
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(b)
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to obtain
financial benefit for the Employee, or
for any other
person or organization
intended by the
Employee to receive such
benefit, other than salaries,
commissions, fees, bonuses,
promotions, awards, profit sharing, pensions
or other employee benefits
earned in the
normal course of
employment.
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Expense
incurred by the
Insured for that
part of the
costs of audits
or examinations required
by any governmental
regulatory authority to be
conducted either by such
authority or by an
independent accountant by
reason of the
discovery of loss
sustained by the
Insured through any
dishonest or fraudulent act(s),
including Larceny or
Embezzlement of any
of the Employees.
The total liability
of the Underwriter for
such expense by reason
of such acts
of any Employee
or in which such
Employee is concerned or
implicated or with
respect to any one
audit or examination is
limited to the amount
stated opposite Audit
Expense in Item
41206 (9/ 84) 1
3 of the
Declarations; it being
understood, however,
that such expense shall be
deemed to be a loss
sustained by the
Insured through any
dishonest or fraudulent act(s),
including Larceny or
Embezzlement of one or more
of the Employees
and the liability
under this paragraph shall be
in addition to the Limit
of liability stated in
Insuring Agreement (A) in
Item 3 of the
Declarations.
Loss
of Property (occurring
with or without
negligence or violence)
through robbery, burglary, Larceny, theft,
holdup, or other
fraudulent means, misplacement, mysterious
unexplainable disappearance, damage
thereto or destruction thereof, abstraction or removal
from the possession,
custody or control of
the Insured, and
loss of subscription,
conversion, redemption or deposit
privileges through the misplacement
or loss of
Property, while the Property
is (or is supposed or
believed by the
Insured to be) lodged
or deposited within
any offices or premises
located anywhere, except in
an office listed
in Item 4 of
the Declarations or amendment
thereof or in
the mail or with
a carrier for hire
other than an
armored motor vehicle
company, for the purpose
of transportation.
Offices and Equipment
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(1)
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Loss of
or damage to,
furnishings, fixtures,
stationery, supplies
or equipment,
within any
of the
Insured's offices
covered under
this bond
caused by
Larceny or
theft in,
or by
burglary, robbery
or holdup
of such
office, or
attempt thereat, or by vandalism
or malicious
mischief; or
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(2)
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loss through damage
to any such office
by Larceny or theft
in, or by
burglary, robbery or
holdup of such
office or attempt thereat, or to
the interior of
any such office
by
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All rights reserved.
1
vandalism
or malicious mischief
provided, in any
event, that the
Insured is the
owner of such
offices, furnishings, fixtures, stationery,
supplies or equipment
or is legally
liable for such
loss or damage,
always excepting, however,
all loss or
damage through fire.
Loss
of Property (occurring
with or without
negligence or violence)
through robbery, Larceny, theft, holdup,
misplacement, mysterious unexplainable
disappearance, being lost
or otherwise made away
with, damage thereto or destruction thereof,
and loss of subscription,
conversion, redemption or deposit
privileges through the misplacement
or loss of
Property, while the Property
is in transit anywhere in
the custody of any
person or persons
acting as messenger,
except while in the
mail or with a carrier
for hire, other than
an armored motor
vehicle company, for
the purpose of transportation, such
transit to begin immediately upon
receipt of such Property
by the transporting
person or persons,
and to end immediately
upon delivery thereof at destination.
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(E)
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FORGERY OR
ALTERATION
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Loss
through FORGERY or
ALTERATION of, on or in
any bills of exchange, checks,
drafts, acceptances, certificates
of deposit. promissory
notes, or other written promises,
orders or directions to pay
sums certain in
money, due bills, money
orders, warrants, orders
upon public treasuries,
letters of credit, written instructions,
advices or applications directed to
the Insured, authorizing
or acknowledging the transfer,
payment, delivery or
receipt of funds
or Property, which instructions
or advices or applications purport to have
been signed or
endorsed by any
customer of the
Insured, shareholder or
subscriber to shares, whether
certificated or uncertificated, of any
Investment Company or
by any financial
or banking institution
or stockbroker but which
instructions, advices or applications either bear the
forged signature or endorsement
or have been
altered without the
knowledge and consent
of such customer,
shareholder or subscriber to shares,
whether certificated or
uncertificated, of an Investment Company,
financial or banking
institution or stockbroker, withdrawal
orders or receipts for
the withdrawal of funds
or Property, or receipts or certificates
of deposit for
Property and bearing
the name of
the Insured as
41206 (9/ 84) 2
issuer,
or of another Investment Company for
which the Insured
acts as agent,
excluding, however, any loss covered under
Insuring Agreement (F) hereof whether
or not coverage for
Insuring Agreement (F) is
provided for in
the Declarations of this
bond.
Any check
or draft (a) made
payable to a fictitious payee and
endorsed in the
name of such
fictitious payee or (b) procured
in a transaction with
the maker or
drawer thereof or
with one acting
as an agent of
such maker or
drawer or anyone impersonating
another and made or
drawn payable to the
one so impersonated
and endorsed by
anyone other than
the one impersonated,
shall be deemed
to be forged as
to such endorsement.
Mechanically
reproduced facsimile signatures
are treated the same
as handwritten signatures.
Loss
sustained by the
Insured, including loss
sustained by reason
of a violation of the
constitution, by- laws,
rules or regulations
of any Self
Regulatory Organization of which
the Insured is
a member or which
would have been
imposed upon the
Insured by the
constitution, by- laws,
rules or regulations
of any Self
Regulatory Organization if the
Insured had been
a member thereof,
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(1)
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through the
Insured's having,
in good
faith and
in the
course of
business, whether
for its own
account or for
the account of others,
in any
representative, fiduciary,
agency or
any other
capacity, either
gratuitously or otherwise, purchased or
otherwise acquired, accepted or received, or
sold or
delivered, or
given any value,
extended any credit
or assumed
any liability,
on the
faith of,
or otherwise acted
upon, any
securities, documents or
other written instruments
which prove
to have been
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(b)
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forged as
to the signature
of any maker, drawer,
issuer, endorser, assignor, lessee, transfer
agent or registrar,
acceptor, surety or guarantor or
as to the signature
of any person signing
in any other
capacity, or
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(c)
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raised or otherwise
altered, or lost, or stolen, or
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(2)
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through the
Insured's having,
in good
faith and
in the
course of
business,
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All rights reserved.
2
guaranteed
in writing or
witnessed any signatures
whether for valuable
consideration or not and
whether or not such
guaranteeing or witnessing is
ultra vires the Insured,
upon any transfers,
assignments, bills of sale, powers of attorney,
guarantees, endorsements or
other obligations upon or
in connection with
any securities, documents or
other written instruments and
which pass or
purport to pass title
to such securities, documents or
other written instruments; EXCLUDING,
losses caused by
FORGERY or ALTERATION of, on
or in those instruments
covered under Insuring Agreement (E)
hereof.
Securities,
documents or other written
instruments shall be
deemed to mean original (including original
counterparts) negotiable or non-
negotiable agreements which in
and of themselves
represent an equitable
interest, ownership, or debt,
including an assignment
thereof which instruments
are in the
ordinary course of
business, transferable by
delivery of such
agreements with any
necessary endorsement or
assignment.
The
word "counterfeited" as used
in this Insuring
Agreement shall be
deemed to mean any
security, document or
other written instrument which
is intended to deceive and
to be taken for an original.
Mechanically
produced facsimile signatures
are treated the same
as handwritten signatures.
Loss
through the receipt
by the Insured,
in good faith,
of any counterfeited
money orders or
altered paper currencies or coin of the
United States of
America or Canada issued or
purporting to have been
issued by the United
States of America or Canada
or issued pursuant
to a United States of
America or Canadian statute for
use as currency.
Loss
against any and all
sums which the
Insured shall become
obligated to pay by
reason of the
Liability imposed upon
the Insured by
law for damages:
41206 (9/ 84)
For
having either complied
with or failed
to comply with any
written notice of any customer,
shareholder or subscriber of
the Insured or any
Authorized Representative of such customer,
shareholder or subscriber to stop
payment of any
check or draft made
or drawn by such
customer, shareholder or subscriber
or any Authorized
Representative of such customer, shareholder
or subscriber, or
For
having refused to pay
any check or draft made
or drawn by any
customer, shareholder or subscriber
of the Insured
or any Authorized Representative of such
customer, shareholder or subscriber.
(I) UNCOLLECTIBLE ITEMS OF DEPOSIT
Loss
resulting from payments
of dividends or fund shares, or
withdrawals permitted from
any customer's, shareholder's or subscriber's
account based upon Uncollectible Items
of Deposit of
a customer, shareholder or subscriber
credited by the
Insured or the Insured's
agent to such customer's, shareholder's
or subscriber's Mutual Fund
Account; or
loss
resulting from any Item of
Deposit processed through
an Automated Clearing
House which is reversed
by the customer,
shareholder or subscriber and
deemed uncollectible by
the Insured.
Loss
includes dividends and
interest accrued not
to exceed 15% of
the Uncollectible Items
which are deposited.
This
Insuring Agreement applies
to all Mutual Funds with
"exchange privileges" if
all Fund(s) in the
exchange program are
insured by a National
Union Fire Insurance
Company of Pittsburgh, PA
for Uncollectible Items of
Deposit. Regardless of the
number of transactions between
Fund(s), the minimum
number of days
of deposit within
the Fund(s) before
withdrawal as declared
in the Fund(s)
prospectus shall begin
from the date
a deposit was first credited
to any Insured Fund(s).
All rights reserved.
3
GENERAL AGREEMENTS
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A.
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ADDITIONAL OFFICES OR EMPLOYEES-
CONSOLIDATION OR MERGER-
NOTICE
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1.
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If the Insured
shall, while this bond
is in force,
establish any additional
office or offices,
such office or offices
shall be automatically
covered hereunder from
the dates of
their establishment, respectively.
No notice to the Underwriter
of an increase during
any premium period in
the number of
offices or in
the number of
Employees at any
of the offices
covered hereunder need
be given and
no additional premium
need be paid
for the remainder of
such premium period.
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2.
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If an
Investment Company, named as
Insured herein, shall,
while this bond is
in force, merge
or consolidate with,
or purchase the assets
of another institution,
coverage for such
acquisition shall apply automatically
from the date
of acquisition. The Insured
shall notify the
Underwriter of such acquisition
within 60 days
of said date, and
an additional premium
shall be computed
only if such acquisition
involves additional offices or employees.
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No statement
made by or
on behalf of the Insured, whether
contained in the
application or otherwise, shall be
deemed to be a warranty
of anything except
that it is true to the
best of the knowledge
and belief of
the person making
the statement.
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C.
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COURT COSTS
AND ATTORNEYS' FEES (Applicable
to all Insuring Agreements
or Coverages now
or hereafter forming part of
this bond)
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The
Underwriter will indemnify
the Insured against court costs
and reasonable attorneys'
fees incurred and
paid by the Insured
in defense, whether
or not successful, whether or not fully
litigated on the merits
and whether or not settled
of any suit
or legal proceeding brought against the
Insured to enforce the
Insured's liability or alleged
liability on account of any loss,
claim or damage
which, if established
against the Insured,
would constitute a loss sustained
by the Insured
covered under the
terms of this bond
provided, however, that with
respect to Insuring Agreement
(A) this indemnity shall
41206 (9/ 84)
apply only in the event that
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(1)
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an Employee
admits to being
guilty of any dishonest or
fraudulent act(s), including Larceny
or Embezzlement; or
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(2)
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an Employee
is adjudicated
to be guilty
of any dishonest
or fraudulent act(s), including
Larceny or Embezzlement;
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(3)
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in the
absence of (1) or
(2) above an arbitration
panel agrees, after a review
of an agreed statement
of facts, that an
Employee would be
found guilty of dishonesty
if such Employee
were prosecuted.
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The
Insured shall promptly
give notice to the
Underwriter of any such
suit or legal proceeding and
at the request of
the Underwriter shall
furnish it with copies
of all pleadings and
other papers therein. At
the Underwriter's election
the Insured shall
permit the Underwriter
to conduct the defense
of such suit
or legal proceeding, in
the Insured's name,
through attorneys of
the Underwriter's selection.
In such event, the Insured
shall give all reasonable
information and assistance which
the Underwriter shall
deem necessary to the proper
defense of such
suit or legal proceeding.
If the
amount of the
Insured's liability or alleged
liability is greater
than the amount
recoverable under this
bond, or if
a Deductible Amount is applicable,
or both, the liability
of the Underwriter under this
General Agreement is
limited to the proportion
of court costs and
attorneys' fees incurred
and paid by the
Insured or by the
Underwriter that the
amount recoverable under
this bond bears
to the total of
such amount plus
the amount which
is not so recoverable.
Such indemnity shall
be in addition to the
Limit of Liability
for the applicable Insuring Agreement
or Coverage.
Acts of
an Employee, as
defined in this
bond, are covered
under Insuring Agreement (A) only
while the Employee
is in the Insured's
employ. Should loss
involving a former Employee
of the Insured
be discovered subsequent
to the termination of
employment, coverage would
still apply under Insuring Agreement (A)
if the direct
proximate cause of the
loss occurred while the
former Employee performed
duties within the
scope of his/
her employment.
All rights reserved.
4
THE FOREGOING INSURING AGREEMENTS
AND GENERAL AGREEMENTS ARE SUBJECT TO
THE FOLLOWING CONDITIONS AND LIMITATIONS:
SECTION 1. DEFINITIONS
The following
terms, as used
in this bond,
shall have the
respective meanings stated
in this Section:
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(1)
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any of
the Insured's
officers, partners,
or employees,
and
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(2)
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any of
the officers
or employees
of any
predecessor of
the Insured
whose principal
assets are acquired
by the
Insured by
consolidation or
merger with,
or purchase of assets
or capital
stock of
such predecessor.
and
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(3)
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attorneys retained
by the
Insured to perform
legal services for the Insured
and the employees
of such attorneys while
such attorneys or the
employees of such
attorneys are performing such services
for the Insured, and
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(4)
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guest students
pursuing their
studies or duties
in any
of the
Insured's offices,
and
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(5)
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directors or
trustees of the Insured,
the investment
advisor, underwriter
(distributor), transfer
agent, or shareholder
accounting record
keeper, or administrator
authorized by
written agreement
to keep financial
and/ or other required records,
but only while
performing acts coming
within the scope
of the usual
duties of an officer
or employee or
while acting as a member
of any committee
duly elected or appointed to examine
or audit or
have custody of or access
to the Property of
the Insured, and
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(6)
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any individual
or individuals
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assigned
to perform the usual
duties of an
employee within the
premises of the
Insured, by contract,
or by any
agency furnishing temporary
personnel on a contingent or
part- time basis, and
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(7)
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each natural person,
partnership or
corporation authorized
by written
agreement with
the Insured
to perform services
as electronic data
processor of checks
or other
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41206 (9/ 84)
accounting
records of the
Insured, but excluding any
such processor who
acts as transfer
agent or in
any other agency
capacity in issuing
checks, drafts or
securities for the Insured, unless
included under Sub- section
(9) hereof, and
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(8)
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those persons
so designated
in Section
15, Central Handling
of Securities, and
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(9)
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any officer,
partner or Employee
of
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a)
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an investment
advisor,
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b)
|
an underwriter
(distributor),
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c)
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a transfer
agent or shareholder
accounting record- keeper,
or
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d)
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an administrator
authorized by written
agreement to keep
financial and/ or other required
records,
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for
an Investment Company named
as Insured while
performing acts coming
within the scope
of the usual
duties of an officer
or Employee of
any Investment Company
named as Insured
herein, or while
acting as a member of
any committee duly
elected or appointed to examine or
audit or have
custody of or access to the Property
of any such
Investment Company, provided that
only Employees or
partners of a transfer agent, shareholder
accounting record- keeper
or administrator which is an
affiliated person as
defined in the
Investment Company Act of
1940, of an
Investment Company named
as Insured or is
an affiliated person
of the adviser,
underwriter or administrator of such
Investment Company, and which
is not a bank, shall
be included within
the definition of Employee.
Each
employer of temporary
personnel or processors as
set forth in Sub-
Sections (6) and of
Section 1(a) and their
partners, officers and
employees shall collectively
be deemed to be
one person for
all the purposes
of this bond, excepting,
however, the last
paragraph of Section
13.
All rights reserved.
5
Brokers,
or other agents under contract or representatives of
the same general
character shall not be
considered Employees.
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(b)
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"Property"
means money
(i.e.. currency,
coin, bank notes,
Federal Reserve notes), postage
and revenue
stamps,
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U.S. Savings
Stamps, bullion, precious metals
of all kinds and in
any form and articles
made therefrom, jewelry, watches,
necklaces, bracelets, gems, precious
and semi- precious
stones, bonds, securities, evidences of debts, debentures,
scrip, certificates, interim receipts, warrants,
rights, puts, calls, straddles,
spreads, transfers, coupons,
drafts, bills of exchange, acceptances,
notes, checks, withdrawal orders,
money orders, warehouse
receipts, bills of lading, conditional sales
contracts, abstracts of title,
insurance policies, deeds,
mortgages under real
estate and/ or
chattels and upon
interests therein, and
assignments of such
policies, mortgages and
instruments, and other valuable
papers, including books of account and
other records used by
the Insured in
the conduct of its
business, and all
other instruments similar
to or in the
nature of the
foregoing including Electronic Representations
of such instruments
enumerated above (but
excluding all data
processing records) in which the
Insured has an
interest or in
which the Insured acquired or should
have acquired an
interest by reason
of a predecessor's declared
financial condition at
the time of the Insured's
consolidation or merger
with, or purchase of the
principal assets of,
such predecessor or
which are held
by the Insured
for any purpose
or in any
capacity and whether so held
by the Insured
for any purpose
or in any
capacity and whether so held
gratuitously or not and whether
or not the Insured
is liable therefor.
|
(c)
|
"Forgery"
means the
signing of
the name
of another with
intent to deceive;
it does not
include the signing of
one's own name
with or without
authority, in any
capacity, for any purpose.
|
|
(d)
|
"Larceny and
Embezzlement" as
it applies
to any named
Insured means those
acts as set
forth in Section 37
of
|
41206 (9/ 84)
the Investment Company Act of 1940.
|
(e)
|
"Items of
Deposit" means any
one or more
checks and drafts.
Items of
Deposit shall
not be
deemed uncollectible
until the
Insured's collection
procedures have
failed.
|
SECTION 2. EXCLUSIONS
THIS BOND DOES NOT COVER:
|
(a)
|
loss effected
directly or indirectly by
means of
forgery or
alteration of, on
or in any
instrument, except
when covered
by Insuring
Agreement (A), (E),
|
(F) or (G).
|
(b)
|
loss due
to riot or civil
commotion outside the
United States of
America and Canada;
or loss due
to military, naval or
usurped power, war or
insurrection unless such loss
occurs in transit
in the circumstances
recited in Insuring
Agreement (D), and unless,
when such transit was initiated,
there was no knowledge
of such riot, civil commotion,
military, naval or
usurped power, war or
insurrection on the
part of any
person acting for
the Insured in initiating
such transit.
|
|
(c)
|
loss, in
time of peace or war,
directly or indirectly caused by
or resulting
from the
effects of nuclear fission
or fusion
or radioactivity;
provided, however,
that this
paragraph shall
not apply
to loss resulting from
industrial uses of nuclear energy.
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(d)
|
loss resulting from
any wrongful act
or acts
of any
person who
is a member
of the Board
of Directors of the Insured or a
member of any
equivalent body by
whatsoever name known
unless such person
is also an
Employee or an
elected official, partial
owner or partner of the
Insured in some
other capacity, nor,
in any event,
loss resulting from the
act or acts
of any person
while acting in the
capacity of a member
of such Board
or equivalent body.
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(e)
|
loss resulting from
the complete
or partial
non- payment of,
or default
upon, any
loan or transaction in
the nature
of, or amounting
to, a loan
made by or
obtained from the Insured
or any of its
partners, directors or Employees,
whether authorized or
unauthorized and whether
procured in good
faith or through
trick, artifice, fraud
or false pretenses.
unless such
|
All rights reserved.
6
loss
is covered under
Insuring Agreement (A), (E) or (F).
|
(f)
|
loss resulting from
any violation by
the Insured
or by any
Employee
|
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(1)
|
of law
regulating (a)
the issuance,
purchase or sale
of securities,
(b) securities
transactions upon Security
Exchanges or over the
counter market,
(c) Investment
Companies, or
(d) Investment
Advisors, or
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(2)
|
of any
rule or
regulation made pursuant
to any such
law, unless such
loss, in the
absence of such laws,
rules or regulations,
would be covered
under Insuring Agreements
|
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(g)
|
loss of
Property or
loss of
privileges through the
misplacement or
loss of
Property as
set forth
in Insuring Agreement
(C) or (D) while
the Property is
in the custody of any
armored motor vehicle
company, unless such loss
shall be in excess
of the amount
recovered or received by
the Insured under (a)
the Insured's contract
with said armored
motor vehicle company,
(b) insurance carried by
said armored motor
vehicle company for
the benefit of users
of its service,
and (c) all
other insurance and indemnity in
force in whatsoever
form carried by
or for the benefit
of users of
said armored motor
vehicle company's service,
and then this bond shall
cover only such
excess.
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(h)
|
potential income,
including but
not
|
limited
to interest and dividends,
not realized by the Insured
because of a loss covered under this
bond, except as
included under Insuring Agreement
(I).
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(i)
|
all damages
of any
type for which
the Insured
is legally
liable, except direct
compensatory damages arising
from a loss
covered under this bond.
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(j)
|
loss through the
surrender of
Property away
from an
office of
the Insured
as a result
of a threat
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(1)
|
to do
bodily harm to any
person, except loss
of Property in
transit in the
custody of any person
acting as messenger
provided that when such
transit was initiated there was no
knowledge by the
Insured of any such
threat, or
|
(2)
to do damage to the premises or Property of the Insured, except when covered under
Insuring Agreement (A).
|
(k)
|
all costs,
fees and other
expenses incurred by
the Insured
in establishing
the existence
of or amount
of loss
covered under
this bond
unless such indemnity
is provided
for under Insuring
Agreement (B).
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(l)
|
loss resulting from
payments made
or withdrawals
from the account
of a customer of
the Insured, shareholder
or subscriber to shares
involving funds erroneously credited
to such account, unless such
payments are made
to or withdrawn by such
depositor or representative
of such person,
who is within
the premises of
the drawee bank
of the Insured
or within the office
of the Insured
at the time of such
payment or withdrawal
or unless such
payment is covered
under Insuring Agreement (A).
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(m)
|
any loss
resulting from Uncollectible
Items of
Deposit which
are drawn
from a financial
institution outside the fifty
states of the
United States of
America, District of Columbia,
and territories and possessions
of the United
States of America, and
Canada.
|
SECTION 3. ASSIGNMENT OF RIGHTS
This
bond does not afford
coverage in favor of
any Employers of
temporary personnel or of processors
as set forth
in sub- sections (6) and (7) of
Section 1(a) of this
bond, as aforesaid,
and upon payment to the
Insured by the
Underwriter on account of any loss
through dishonest or
fraudulent act(s) including Larceny
or Embezzlement committed
by any of
the partners, officers
or employees of
such Employers, whether
acting alone or in
collusion with others,
an assignment of
such of the
Insured's rights and
causes of action as
it may have
against such Employers
by reason of
such acts so
committed shall, to the
extent of such
payment, be given
by the Insured
to the Underwriter, and
the Insured shall
execute all papers
necessary to secure to the Underwriter
the rights herein
provided for.
SECTION 4. LOSS- NOTICE- PROOF- LEGAL
PROCEEDINGS
This
bond is for
the use and benefit
only of the
Insured named in
the Declarations and
the Underwriter shall
not be liable
hereunder for
41206 (9/ 84)
All rights reserved.
7
loss
sustained by anyone
other than the Insured
unless the Insured,
in its sole
discretion and at its option,
shall include such
loss in the
Insured's proof of
loss. At the
earliest practicable moment
after discovery of
any loss hereunder
the Insured shall
give the Underwriter written
notice thereof and
shall also within
six months after
such discovery furnish
to the Underwriter affirm
ative proof of
loss with full
particulars. If claim is
made under this
bond for loss
of securities or shares, the
Underwriter shall not
be liable unless
each of such
securities or shares is
identified in such
proof of loss
by a certificate or
bond number or,
where such securities or shares
are uncertificated, by
such identification means
as agreed to by
the Underwriter. The
Underwriter shall have
thirty days after notice and
proof of loss
within which to investigate
the claim, but
where the loss is
clear and undisputed,
settlement shall be made
within forty- eight hours; and
this shall apply notwithstanding the
loss is made
up wholly or
in part of
securities of which duplicates may
be obtained. Legal proceedings
for recovery of
any loss hereunder
shall not be
brought prior to the
expiration of sixty
days after such
proof of loss
is filed with
the Underwriter nor after
the expiration of twenty-
four months from
the discovery of
such loss, except
that any action
or proceeding to recover
hereunder on account of any
judgment against the
Insured in any
suit mentioned in
General Agreement C or to recover
attorneys' fees paid in
any such suit, shall be
begun within twenty-
four months from
the date upon
which the judgment
in such suit
shall become final.
If any limitation embodied
in this bond
is prohibited by
any law controlling
the construction hereof,
such limitation shall
be deemed to be
amended so as
to be equal to the
minimum period of
limitation permitted by such
law.
Discovery occurs when the Insured
|
(a)
|
becomes aware
of facts,
or
|
|
(b)
|
receives written
notice of an
actual or
potential claim by
a third party which
alleges that the
Insured is liable
under circumstance
|
which would
cause a reasonable person to assume
that a loss covered by
the bond has
been or will
be incurred even though
the exact amount
or details of
loss may not be
then known.
SECTION 5.
VALUATION OF PROPERTY
The value
of any Property,
except books of
41206 (9/ 84)
accounts
or other records used
by the Insured
in the conduct
of its business, for
the loss of which
a claim shall be
made hereunder, shall
be determined by
the average market
value of such
Property on the
business day next
preceding the discovery
of such loss;
provided, however, that the
value of any
Property replaced by the
Insured prior to the
payment of claim
therefor shall be
the actual market
value at the time
of replacement; and further provided
that in case of
a loss or misplacement
of interim certificates, warrants, rights,
or other securities,
the production which
is necessary to the exercise
of subscription, conversion,
redemption or deposit privileges,
the value thereof
shall be the
market value of
such privileges immediately
preceding the expiration
thereof if said
loss or misplacement
is not discovered
until after their
expiration. If no market price
is quoted for
such Property or
for such privileges,
the value shall
be fixed by
agreement between the
parties or by arbitration.
In case
of any loss
or damage to Property
consisting of books of accounts or
other records used by
the Insured in
the conduct of its
business, the Underwriter
shall be liable
under this bond only if
such books or records
are actually reproduced
and then for not
more than the
cost of blank books,
blank pages or
other materials plus the
cost of labor for
the actual transcription or copying of
data which shall have
been furnished by
the Insured in
order to reproduce such books
and other records.
SECTION 6. VALUATION OF PREMISES AND
FURNISHINGS
In case
of damage to any
office of the
Insured, or loss of
or damage to the furnishings,
fixtures, stationery, supplies,
equipment, safes or
vaults therein, the
Underwriter shall not
be liable for
more than the
actual cash value
thereof, or for more
than the actual
cost of their replacement
or repair. The
Underwriter may, at its election,
pay such actual
cash value or
make such replacement
or repair. If the
Underwriter and the
Insured cannot agree upon such
cash value or
such cost of replacement
or repair, such
shall be determined by
arbitration.
SECTION 7. LOST SECURITIES
If the
Insured shall sustain a loss
of securities the total
value of which is in excess
of the limit
stated in Item 3 of
the Declarations of this
bond, the liability
of the Underwriter shall
All
rights reserved.
8
be
limited to payment for,
or duplication of, securities
having value equal
to the limit stated
in Item 3 of the
Declarations of this bond.
If the
Underwriter shall make
payment to the Insured
for any loss
of securities, the
Insured shall thereupon
assign to the Underwriter all of the
Insured's rights, title
and interests in
and to said securities.
With respect
to securities the value
of which do not
exceed the Deductible
Amount (at the time
of the discovery of
the loss) and
for which the
Underwriter may at
its sole discretion and option
and at the request
of the Insured
issue a Lost Instrument Bond
or Bonds to effect replacement
thereof, the Insured
will pay the
usual premium charged
therefor and will
indemnify the Underwriter
against all loss
or expense that
the Underwriter may
sustain because of the
issuance of such Lost
Instrument Bond or
Bonds.
With respect
to securities the value
of which exceeds
the Deductible Amount (at
the time of discovery
of the loss)
and for which
the Underwriter may
issue or arrange for
the issuance of a Lost Instrument
Bond or Bonds
to effect replacement thereof,
the Insured agrees
that it will pay as
premium therefor a proportion
of the usual
premium charged therefor,
said proportion being
equal to the percentage that
the Deductible Amount bears
to the value of
the securities upon
discovery of the loss,
and that it will indemnify
the issuer of
said Lost Instrument
Bond or Bonds
against all loss
and expense that
is not recoverable from
the Underwriter under the
terms and conditions
of this INVESTMENT COMPANY BLANKET
BOND subject to the
Limit of Liability
hereunder.
SECTION 8. SALVAGE
In case
of recovery, whether
made by the
Insured or by the
Underwriter, on account of any
loss in excess
of the Limit
of Liability hereunder
plus the Deductible
Amount applicable to such loss from
any source other than
suretyship, insurance, reinsurance,
security or indemnity taken
by or for
the benefit of the
Underwriter, the net
amount of such
recovery, less the
actual costs and
expenses of making same,
shall be applied
to reimburse the Insured
in full for the excess
portion of such
loss, and the
remainder, if any,
shall be paid
first in reimbursement of
the Underwriter and
thereafter in reimbursement
of the Insured
for that part
of
41206 (9/ 84) 9
such
loss within the
Deductible Amount. The
Insured shall execute
all necessary papers to secure
to the Underwriter the
rights provided for
herein.
SECTION 9. NON- REDUCTION AND NON- ACCUMULATION
OF LIABILITY AND TOTAL LIABILITY
At
all times prior to termination
hereof this bond
shall continue in
force for the limit
stated in the
applicable sections of Item 3 of
the Declarations of this
bond notwithstanding any
previous loss for which
the Underwriter may have
paid or be liable
to pay hereunder; PROVIDED, however,
that regardless of
the number of
years this bond
shall continue in
force and the number
of premiums which
shall be payable
or paid, the
liability of the Underwriter
under this bond with
respect to all loss
resulting from
|
(a)
|
any one
act of
burglary, robbery
or holdup,
or attempt thereat, in
which no Partner or
Employee is
concerned or
implicated shall
be deemed
to be one
loss, or
|
|
(b)
|
any one
unintentional or negligent act
on the
part of
any one
person resulting
in damage
to or destruction or misplacement
of Property, shall be
deemed to be one
loss, or
|
|
(c)
|
all wrongful
acts, other
than those
specified in (a)
above, of any
one person
shall be
deemed to be
one loss, or
|
|
(d)
|
all wrongful
acts, other
than those
specified in (a)
above, of one or more
persons (which
dishonest act(s)
or act(s)
of Larceny
or Embezzlement
include, but
are not limited
to, the
failure of
an Employee
to report such
acts of others)
whose dishonest act
or acts intentionally
or unintentionally, knowingly or unknowingly,
directly or indirectly, aid or
aids in any
way, or permits
the continuation of,
the dishonest act or
acts of any
other person or persons
shall be deemed
to be one loss
with the act
or acts of
the persons aided,
or
|
|
(e)
|
any one
casualty or
event other than
|
those specified in (a), (b), (c) or (d)
preceding, shall be deemed to be one loss, and
shall
be limited to the
applicable Limit of
Liability stated in
Item 3 of the Declarations
of this bond
irrespective of the total
amount of such
loss or losses
and shall not
be cumulative in
amounts from year to year
or
All rights reserved.
9
from period to period.
Sub-
section (c) is
not applicable to any situation
to which the language
of sub- section (d) applies.
SECTION 10. LIMIT OF LIABILITY
With respect
to any loss set
forth in the PROVIDED clause
of Section 9 of
this bond which
is recoverable or recovered
in whole or
in part under
any other bonds
or policies issued by
the Underwriter to the
Insured or to any predecessor
in interest of
the Insured and
terminated or cancelled or
allowed to expire and in
which the period for
discovery has not
expired at the time
any such loss
thereunder is discovered,
the total liability
of the Underwriter under this
bond and under
other bonds or
policies shall not
exceed, in the
aggregate, the amount
carried hereunder on
such loss or
the amount available
to the Insured under such
other bonds or
policies, as limited
by the terms
and conditions thereof,
for any such
loss if the
latter amount be
the larger.
SECTION 11. OTHER INSURANCE
If the
Insured shall hold,
as indemnity against
any loss covered hereunder,
any valid and enforceable
insurance or suretyship, the
Underwriter shall be
liable hereunder only
for such amount
of such loss
which is in excess of the
amount of such
other insurance or
suretyship, not exceeding, however, the Limit
of Liability of
this bond applicable
to such loss.
SECTION 12. DEDUCTIBLE
The
Underwriter shall not
be liable under any
of the Insuring
Agreements of this
bond on account of loss
as specified, respectively, in
sub- sections (a), (b), (c), (d)
and (e) of
Section 9, NON-
REDUCTION AND NON- ACCUMULATION OF LIABILITY
AND TOTAL
LIABILITY, unless
the amount of
such loss, after
deducting the net
amount of all reimbursement
and/ or recovery
obtained or made by
the Insured, other than
from any bond or
policy of insurance
issued by an insurance
company and covering
such loss, or
by the Underwriter
on account thereof prior to payment by
the Underwriter of such
loss, shall exceed the
Deductible Amount set forth in Item 3
of the Declarations
hereof (herein called Deductible
Amount) and then for
such excess only,
but in no event
for more than
the applicable Limit
of Liability stated
in Item 3 of the
Declarations.
The
Insured will bear,
in addition to the
41206 (9/ 84) 10
Deductible Amount, premiums on Lost Instrument
Bonds as set forth in Section 7.
There shall be no deductible applicable
to any loss under Insuring Agreement A sustained by any Investment Company named as Insured herein.
SECTION 13. TERMINATION
The
Underwriter may terminate this
bond as an entirety
by furnishing written
notice specifying the
termination date which cannot
be prior to 60
days after the receipt
of such written
notice by each
Investment Company named
as Insured and
the Securities and
Exchange Commission, Washington,
D.C. The Insured
may terminate this bond
as an entirety by
furnishing written notice
to the Underwriter. When
the Insured cancels, the
Insured shall furnish written
notice to the Securities
and Exchange Commission, Washington.
D.C. prior to 60
days before the
effective date of the
termination. The Underwriter
shall notify all
other Investment Companies named
as Insured of the
receipt of such
termination notice and
the termination cannot
be effective prior to 60
days after receipt
of written notice
by all other Investment
Companies. Premiums are
earned until the
termination date as
set forth herein.
This
Bond will terminate
as to any one
Insured immediately upon taking
over of such Insured
by a receiver or
other liquidator or by State or
Federal officials, or immediately
upon the filing
of a petition under any
State or Federal statute
relative to bankruptcy or
reorganization of the
Insured, or assignment for
the benefit of creditors
of the Insured.
or immediately upon such
Insured ceasing to exist,
whether through merger
into another entity,
or by disposition
of all of
its assets.
The
Underwriter shall refund the
unearned premium computed
at short rates
in accordance with
the standard short
rate cancellation tables
if terminated by
the Insured or pro
rata if terminated
for any other
reason.
This
Bond shall terminate
|
(a)
|
as to
any Employee as
soon as any
partner, officer or
supervisory Employee of
the Insured, who
is not in
collusion with such
Employee, shall learn of any
dishonest or fraudulent act(s),
including Larceny or
Embezzlement on the
part of such
Employee without prejudice
to the loss of
any Property then
in transit in
the custody of such
Employee (See
|
All rights reserved.
10
Section 16[d]), or
|
(b)
|
as to
any Employee 60
days after receipt by
each Insured and
by the Securities
and Exchange Commission of
a written notice from
the Underwriter of its
desire to terminate this
bond as to such
Employee, or
|
|
(c)
|
as to
any person, who
is a partner, officer
or employee of
any Electronic Data
Processor covered under
this bond, from and after
the time that the
Insured or any partner
or officer thereof not
in collusion with
such person shall
have knowledge or information
that such person
has committed any
dishonest or fraudulent act(s),
including Larceny or
Embezzlement in the
service of the
Insured or otherwise, whether such act
be committed before or after
the time this bond
is effective.
|
SECTION 14. RIGHTS AFTER TERMINATION OR
CANCELLATION
At any
time prior to the
termination or cancellation of this
bond as an entirety,
whether by the Insured
or the Underwriter, the
Insured may give
to the Underwriter notice
that it desires under
this bond an
additional period of
12 months within
which to discover loss sustained by
the Insured prior
to the effective date of
such termination or
cancellation and shall pay
an additional premium
therefor.
Upon
receipt of such notice
from the Insured,
the Underwriter shall
give its written consent
thereto; provided, however,
that such additional
period of time shall
terminate immediately;
|
(a)
|
on the
effective date of
any other
insurance obtained
by the
Insured, its
successor in
business or
any other
party, replacing
in whole
or in
part the
insurance afforded
by this
bond, whether
or not such
other insurance
provides coverage for loss
sustained prior
to its effective
date, or
|
|
(b)
|
upon takeover
of the
Insured's business
by any
State or
Federal official
or agency, or by
any receiver
or liquidator,
acting or
appointed for this
purpose
|
without
the necessity of
the Underwriter giving
notice of such termination. In the
event that such
additional period of
time is terminated, as
provided above, the
Underwriter shall refund any
unearned
41206 (9/ 84)
premium.
The
right to purchase such
additional period for
the discovery of loss
may not be exercised
by any State
or Federal official or
agency, or by any receiver
or liquidator, acting
or appointed to take over the
Insured's business for
the operation or for
the liquidation thereof or for
any other purpose.
SECTION 15. CENTRAL HANDLING OF SECURITIES
Securities
included in the
systems for the central
handling of securities established and maintained
by Depository Trust
Company, Midwest Depository
Trust Company, Pacific
Securities Depository Trust
Company, and Philadelphia Depository Trust
Company, hereinafter called Corporations,
to the extent of
the Insured's interest
therein as effective by the
making of appropriate entries
on the books
and records of
such Corporations shall be
deemed to be Property.
The words
"Employee" and "Employees"
shall be deemed
to include the officers,
partners, clerks and
other employees of
the New York
Stock Exchange, Boston Stock Exchange,
Midwest Stock Exchange, Pacific
Stock Ex- change and Philadelphia Stock Exchange,
hereinafter called Exchanges, and of the
above named Corporations, and of any
nominee in whose
name is registered
any security included
within the systems
for the central handling
of securities established and maintained
by such Corporations,
and any employee of
any recognized service
company, while such officers, partners,
clerks and other
employees and employees of service
companies perform services for such
Corporations in the operation of such
systems. For the
purpose of the
above definition a recognized
service company shall
be any company
providing clerks or
other personnel to said Exchanges or
Corporation on a contract
basis.
The
Underwriter shall not
be liable on account of any
loss(es) in connection
with the central
handling of securities within the systems
established and maintained
by such Corporations,
unless such loss(es) shall
be in excess
of the amount(s)
recoverable or recovered
under any bond
or policy of
insurance indemnifying such
Corporations, against such
loss(es), and then the
Underwriter shall be
liable hereunder only
for the Insured's share
of such excess loss(es),
but in no event
for more than
the Limit of
Liability applicable hereunder.
All
rights reserved.
11
For
the purpose of
determining the Insured's
share of excess loss(es)
it shall be
deemed that the
Insured has an
interest in any
certificate representing any
security included within
such systems equivalent to the
interest the Insured
then has in all certificates
representing the same
security included within
such systems and
that such Corporations
shall use their best judgment
in apportioning the amount(s)
recoverable or recovered
under any bond
or policy of
insurance indemnifying such
Corporations against such
loss(es) in connection
with the central
handling of securities within such
systems among all
those having an
interest as recorded
by appropriate entries
in the books
and records of
such Corporations in
Property involved in
such loss(es) on
the basis that
each such interest shall
share in the
amount(s) so recoverable
or recovered in the
ratio that the
value of each
such interest bears to the
total value of all
such interests and
that the Insured's
share of such excess
loss(es) shall be
the amount of
the Insured's interest
in such Property
in excess of
the amount(s) so
apportioned to the Insured
by such Corporations.
This
bond does not afford
coverage in favor of
such Corporations or
Exchanges or any
nominee in whose
name is registered
any security included
within the systems
for the central handling
of securities established and maintained
by such Corporations,
and upon payment to the
Insured by the
Underwriter on account of any loss(es)
within the systems,
an assignment of
such of the
Insured's rights and
causes of action as
it may have
against such Corporations
or Exchanges shall to the
extent of such
payment, be given
by the Insured
to the Underwriter, and
the Insured shall
execute all papers
necessary to secure to the Underwriter
the rights provided
for herein.
SECTION
16. ADDITIONAL COMPANIES INCLUDED
AS INSURED
If more
than one corporation,
co- partnership or
person or any
combination of them
be included as
the Insured herein:
|
(a)
|
the total
liability of the
Underwriter hereunder
for loss
or losses
sustained by
any one
or more or
all of
them shall
not exceed
the limit
for which
the Underwriter
would be
liable hereunder
if all such
loss were
sustained by
any one
of them,
|
|
(b)
|
the one
first named
herein shall be
deemed authorized
to make, adjust
and
|
41206 (9/ 84) 12
receive
and enforce payment
of all claims hereunder and
shall be deemed
to be the agent
of the others
for such purposes
and for the giving
or receiving of any
notice required or
permitted to be given
by the terms
hereof, provided that the Underwriter
shall furnish each named Investment
Company with a copy
of the bond and with
any amendment thereto,
together with a copy
of each formal filing
of the settlement
of each such claim
prior to the execution
of such settlement,
|
(c)
|
the Underwriter
shall not
be responsible
for the proper
application of any
payment made hereunder
to said first
named Insured,
|
|
(d)
|
knowledge possessed
or discovery
made by any
partner, officer
or supervisory
Employee of
any Insured
shall for
the purposes of
Section 4 and
Section 13 of
this bond constitute
knowledge or discovery by
all the Insured, and
|
|
(e)
|
if the
first named
Insured ceases
for any
reason to be
covered under this
bond, then the Insured
next named shall
thereafter be considered as
the first named Insured
for the purposes of
this bond.
|
SECTION 17. NOTICE AND CHANGE OF CONTROL
Upon
the Insured's obtaining
knowledge of a transfer of its
outstanding voting securities
which results in
a change in control
(as set forth
in Section 2(a) (9) of the
Investment Company Act of
1940) of the
Insured, the Insured
shall within thirty
(30) days of
such knowledge give
written notice to the
Underwriter setting forth:
|
(a)
|
the names
of the
transferors and
transferees (or
the names
of the
beneficial owners if
the voting
securities are
requested in
another name),
and
|
|
(b)
|
the total
number of
voting securities
owned by
the transferors
and the
transferees (or
the beneficial
owners), both immediately
before and
after the transfer,
and
|
|
(c)
|
the total
number of
outstanding voting securities.
|
As
used in this
section, control means
the power to exercise
a controlling influence over
the management or
policies of the
Insured.
Failure
to give the required
notice shall result
in termination of
coverage of this
bond,
All rights reserved.
12
effective
upon the date
of stock transfer
for any loss
in which any transferee
is concerned or
implicated.
Such notice is not required to be given
in the case of an Insured which is an Investment Company.
SECTION 18. CHANGE OR MODIFICATION
This
bond or any
instrument amending or
effecting same may not
be changed or
modified orally. No changes
in or modification
thereof shall be effective unless
made by written endorsement
issued to form a part
hereof over the
signature of the Underwriter's
Authorized Representative. When a
bond covers only one
Investment Company no change
or modification which would
adversely
41206 (9/ 84)
affect
the rights of the Investment
Company shall be
effective prior to 60 days
after written notification
has been furnished
to the Securities and
Exchange Commission, Washington, D.C.
by the Insured
or by the Underwriter.
If more than one
Investment Company is named
as the Insured herein,
the Underwriter shall
give written notice to each
Investment Company and
to the Securities and
Exchange Commission, Washington, D.C.
not less than 60
days prior to the
effective date of any
change or modification which
would adversely affect
the rights of such Investment
Company.
IN WITNESS WHEREOF, the Underwriter
has caused this bond to be executed on the Declarations Page.
All
rights reserved.
13
ENDORSEMENT#
1
This
endorsement, effective
12:01 AM January 31, 2021
forms a part of
policy
number 04-190-80-19
issued
to
BNY MELLON LARGE CAP SECURITIES FUND, INC. (AND OT HER INSUREDS INCLUDED BY ENDORSEMENT)
by National
Union Fire Insurance Company of Pittsburgh, Pa.
NEW YORK AMENDATORY ENDORSEMENT - NY STATUTE
3420
Wherever
used in this endorsement:
1) "we", "us",
"our" and "Insurer"
mean the insurance
company which issued
this policy; 2)
"you", "your", "Insured" and
"first Named Insured" mean
the Named Corporation, Named Entity,
Named Organization, Named Sponsor, Named Insured,
or Insured stated in the
declarations page; 3)
"other insured(s)" means
all other persons or
entities afforded coverage under
the policy; 4)
"Discovery Period" means
Discovery Period or Extended
Reporting Period, as
defined in the
policy; and 5)
"Claim" means Claim
or Suit as
defined in the
policy.
It is hereby understood and agreed that the policy
is amended as follows:
|
A.
|
The following
provisions are
hereby added
to the policy:
|
FAILURE TO GIVE NOTICE WITHIN PRESCRIBED TIME:
Failure
to give any notice
required to be given
by this policy,
or any policy of
which this is
a renewal, within the
prescribed time shall
not invalidate any
Claim made against
an Insured if:
|
(a)
|
it shall
be shown
not to have
been reasonably possible to give
notice within the
prescribed time and
that notice was given
as soon as
was reasonably possible thereafter;
or
|
|
(b)
|
the failure
to provide timely
notice has not
prejudiced the Insurer.
|
Any such
Claim shall be deemed to have
been first made
against the Insured
and noticed to the
Insurer within the
Policy Period or
Discovery Period of the
policy issued by the
Insurer (the "Noticed
Policy") in which the Insurer
received notice of the Claim;
provided that the
coverage afforded with
respect to the Noticed
Policy shall be in an
amount not greater
than the amount
of coverage afforded
with respect to the
Policy Period of
the policy issued by
the Insurer (the
"Former Policy") in which the
Claim was actually first
made against the
Insured. The foregoing
sentence may result
in (but not be
limited to): (1) reducing
the limit of
liability available for such
a Claim to the available
limit of liability applicable to
the Former Policy;
(2) increasing the applicable
retention amount to that retention
amount applicable to the
Former Policy; or
(3) reducing
or eliminating coverage due
to exclusions or other restrictions appearing
in the Former
Policy but eliminated,
in part or
in whole, in
the Noticed Policy. No coverage
shall be afforded
under this endorsement
if there was not
in existence a Former
Policy at the time
the Claim was actually
first made against
the Insured.
With respect
to subsection (b) above,
any such Claim must
be noticed during the
Policy Period or
Discovery Period of a Noticed
Policy which is a renewal or
extension of the
Former Policy.
Nothing in this endorsement shall be
construed to provide coverage for a Claim under more than one Policy Period or Discovery Period.
PREJUDICE:
All rights reserved.
ENDORSEMENT#
1
(continued)
In the
event that the
Insurer alleges that
it was prejudiced as a result
of a failure to give
notice within the
time required under
the policy, the
burden of proof
shall be on:
|
(a)
|
the Insurer
to prove that
it has been prejudiced, if
the notice was provided
within two years of
the time required
under the policy;
or
|
|
(b)
|
the Insured
to prove that
the Insurer has
not been prejudiced, if
the notice was provided
more than two years
after the time required
under the policy.
|
The
Insurer's rights shall
not be deemed
prejudiced unless the failure
to timely provide notice materially
impairs the ability of
the Insurer to investigate
or defend the Claim.
Notwithstanding
the above, an
irrebuttable presumption of
prejudice shall apply if,
prior to the notice,
the Insured's liability
has been determined
by a court of competent
jurisdiction or by
a binding arbitration; or if the
Insured has resolved
the Claim by
settlement or other compromise.
NOTICE TO AGENT:
Notice
given by or
on behalf of the Insured, or written
notice by or
on behalf of the injured party
or any other
claimant, to any licensed agent of
the Insurer in
the state of
New York, with particulars
sufficient to identify the
Insured, shall be
deemed notice to the
Insurer.
INSOLVENCY/ BANKRUPTCY OF INSURED:
The
insolvency or bankruptcy
of the Insured
shall not relieve
the Insurer of its
obligations under this
policy as long
as all policy
requirements are met
by Insured, its
trustee or receiver in
bankruptcy. Should a covered
judgment be rendered
against an insolvent
or bankrupt Insured, the Insurer
shall be liable
for the amount of
such judgment not
to exceed the applicable
limit of liability under this
policy.
|
B.
|
The Clause
entitled, "Action
Against Us
" or "Action
Against Company"
is deleted in
its entirety and
replaced with the
following:
|
No one
may bring an
action against us
unless there has
been full compliance
with all the
terms of this
policy and the
amount of the
Insured's obligation to pay
has been finally determined
either by:
|
1.
|
judgment against
the Insured
which remains
unsatisfied at
the expiration of
thirty (30)
days from the
service of
notice of entry of
the judgment
upon the
Insured and
upon us;
or
|
|
2.
|
written agreement
of the
Insured, the
claimant and
us.
|
Any person
or organization or
legal representative thereof who has
secured such judgment
or written agreement
shall thereafter be entitled
to recover under this
policy to the extent
of the insurance
afforded by this
policy. We may not
be impleaded by
the Insured or its
legal representative in any
legal action brought
against the Insured
by any person
or organization.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
_________________________
AUTHORIZED REPRESENTATIVE
All rights reserved.
Page 2 of 2
ENDORSEMENT#
2
This endorsement,
effective 12:01
AM January 31, 2021
forms a part of
policy
number 04-190-80-19
issued
to
BNY MELLON LARGE CAP SECURITIES FUND, INC. (AND OT HER INSUREDS INCLUDED BY ENDORSEMENT)
by National
Union Fire Insurance Company of Pittsburgh, Pa.
NOTICE OF CLAIM
(REPORTING BY E- MAIL)
In consideration of
the premium charged,
it is hereby understood and
agreed as follows:
|
1.
|
Email Reporting
of Claims: In addition to the
postal address set
forth for any
Notice of Claim
Reporting under this policy,
such notice may
also be given
in writing pursuant
to the policy's other
terms and conditions
to the Insurer by
email at the following
email address:
|
c- claim@AIG.com
Your
email must reference the
policy number for
this policy. The
date of the
Insurer's receipt of
the emailed notice
shall constitute the date
of notice.
In addition
to Notice of Claim
Reporting via email,
notice may also
be given to the
Insurer by mailing
such notice to:
AIG, Financial Lines Claims,
P.O. Box 25947, Shawnee
Mission, KS 66225 or
faxing such notice
to (866) 227- 1750.
|
2.
|
Definitions: For
this endorsement
only, the
following definitions
shall apply:
|
|
(a)
|
"Insurer"
means the
"Insurer," "Underwriter"
or "Company"
or other name
specifically ascribed
in this
policy as
the insurance company
or underwriter for
this policy.
|
|
(b)
|
"Notice of
Claim Reporting"
means "notice
of claim/ circumstance,"
"notice of
loss" or
other reference in the
policy designated for
reporting of
claims, loss or
occurrences or
situations that may
give rise
or result
in loss
under this
policy.
|
|
(c)
|
"Policy"
means the
policy, bond
or other insurance
product to which this
endorsement is attached.
|
|
3.
|
This endorsement
does not
apply to any
Kidnap & Ransom/ Extortion
Coverage Section, if
any, provided by
this policy.
|
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
All rights reserved.
2-14057 END
002
99758 (8/ 08) Page
1 of 1
ENDORSEMENT#
3
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
NEW YORK STATUTORY RIDER/ENDORSEMENT
It is agreed that:
|
1.
|
The Section13 entitled “Termination” of this bond/policy
is amended by adding:
|
|
2.
|
Cancelation of this bond/policy by the Underwriter/Company
is subject to the following provisions:
|
If the bond/policy has been in effect for 60
days or less, it may be cancelled by the Underwriter/Company for any reason. Such cancelation shall be effective 20 days after
the Underwriter/Company mails a notice of cancelation to the first-named insured at the mailing address shown in the bond/policy.
However, if the bond/policy has been in effect for more than 60 days or is a renewal, then cancellation must be based on one of
the following grounds:
|
(A)
|
non-payment of premium;
|
|
(B)
|
conviction of a crime arising out of acts increasing the hazard insured
against;
|
|
(C)
|
discovery of fraud or material misrepresentation
in the obtaining of the bond/policy or in the presentation of claim thereunder;
|
|
(D)
|
after issuance of the bond/policy or after
the last renewal date, discovery of an act or omission, or a violation of any bond/policy condition that substantially and materially
increases the hazard insured against, and which occurred subsequent to inception of the current bond/policy period;
|
|
(E)
|
material change in the nature or extent of
the risk, occurring after issuance or last annual renewal anniversary date of the bond/policy, which causes the risk of loss to
be substantially and materially increased beyond that contemplated at the time the bond/policy was issued or last renewed;
|
|
(F)
|
the cancellation is required pursuant to
a determination by the superintendent that continuation of the present premium volume of the insurer would jeopardize that insurer's
solvency or be hazardous to the interests of the insureds, the insurer's creditors or the public;
|
©All rights reserved.
END 003
1
ENDORSEMENT# 3 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(G)
|
a determination by the superintendent that
the continuation of the bond/policy would violate, or would place the insurer in violation of, any provision of the New York State
insurance laws.
|
|
(H)
|
where the insurer has reason to believe, in
good faith and with sufficient cause, that there is a possible risk or danger that the insured property will be destroyed by the
insured for the purpose of collecting the insurance proceeds, provided, however, that:
|
|
(i)
|
a notice of cancelation on this ground shall
inform the insured in plain language that the insured must act within ten days if review by the Insurance Department of the State
of New York of the ground for cancelation is desired, and
|
|
(ii)
|
notice of cancelation on this ground shall
be provided simultaneously by the insurer to the Insurance Department of the State of New York. Cancelation based on one of the
above grounds shall be effective 15 days after the notice of cancellation is mailed or delivered to the named insured, at the address
shown on the bond/policy, and to its authorized agent or broker.
|
|
3.
|
If the Underwriter/Company elects not to replace
a bond/policy at the termination of the bond/policy period, it shall notify the insured not more than 120 days nor less than 60
days before termination. If such notice is given late, the bond/policy shall continue in effect for 60 days after such notice is
given. The Aggregate Limit of Liability shall not be increased or reinstated. The notice not to replace shall be mailed to the
insured and its broker or agent.
|
|
4.
|
If the Underwriter/Company elects to replace
the bond/policy, but with a change of limits, reduced coverage, increased deductible, additional exclusion, or upon increased premiums
in excess of ten percent (exclusive of any premium increase as a result of experience rating), the Underwriter must mail written
notice to the insured and its agent or broker not more than 120 days nor less than 60 days before replacement. If such notice is
given late, the replacement bond/policy shall be in effect with the same terms, conditions and rates as the terminated bond/policy
for 60 days after such notice is given.
|
©All rights reserved.
END 003
2
ENDORSEMENT# 3 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
5.
|
The Underwriter/Company may elect to simply
notify the insured that the bond/policy will either be not renewed or renewed with different terms, conditions or rates. In this
event, the Underwriter/Company will inform the insured that a second notice will be sent at a later date specifying the Underwriter's/Company's
exact intention. The Underwriter shall inform the insured that, in the meantime, coverage shall continue on the same terms, conditions
and rates as the expiring bond/policy until the expiration date of the bond/policy or 60 days after the second notice is mailed
or delivered, whichever is later.
|
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 003
3
ENDORSEMENT# 4
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
VOICE INITIATED TRANSFER FRAUD
It is agreed that:
|
1.
|
The attached bond is amended by adding an Insuring
Agreement as follows: (VIT) VOICE INITIATED TRANSFER FRAUD
|
Loss resulting directly from the Insured having,
in good faith, transferred Property from a Customer’s or Insured’s account through a Computer System covered under
the terms of the Computer System Fraud Insuring Agreement in reliance upon a fraudulent voice instruction transmitted by telephone
which was purported to be from:
|
(1)
|
an officer, director, partner or employee
of a Customer of the Insured who was authorized by the Customer to instruct the Insured to make such transfer;
|
|
(2)
|
an individual person who is a Customer of the Insured; or
|
|
(3)
|
an Employee of the Insured in another office
of the Insured who was authorized by the Insured to instruct other Employees of the Insured to transfer Property, and was received
by an Employee of the Insured specifically designated to receive and act upon such instructions,
|
but the voice instruction was not from a person
described in (1), (2), or (3) above, provided that
|
(i)
|
in order for coverage to apply under this
Insuring Agreement, Voice Initiated Transfer must be received and processed in accordance with the Insured’s designated procedures.
However, the isolated failure of the Insured to maintain and follow its designated procedures in a particular instance will not
preclude coverage under this Insuring Agreement. Provided that the Insured is able to demonstrate that the procedures were being
followed immediately before and after the occurrence.
|
In this Insuring Agreement:
©All rights reserved.
END 004
1
ENDORSEMENT# 4 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
(A) Customer means
an entity or individual which has a written agreement with the Insured authorizing the Insured to rely on voice instructions to
make transfers and which has provided the Insured with the names of persons authorized to initiate such.
|
2.
|
In addition to the Conditions and Limitations
in the bond and Computer Systems Fraud Insuring Agreement rider, the following provisions are applicable to the Voice Initiated
Transfer Fraud Insuring Agreement:
|
This Insuring Agreement does not cover loss resulting
directly or indirectly from the assumption of liability by the Insured by contract unless the liability arises from a loss covered
by this Insuring Agreement and would be imposed on the Insured regardless of the existence of the contract.
|
3.
|
The section of Item 3 of the Declarations
entitled “Optional Insuring Agreements and Coverages” is amended by adding the following:
|
|
Limit of Liability
|
Deductible
|
Insuring Agreement (VIT) - VOICE INITIATED TRANSFER FRAUD
|
$10,000,000
|
$50,000
|
|
4.
|
Nothing herein contained shall be held to vary,
alter, waive or extend any of the terms, limitations, conditions or agreements of the attached bond other than as above stated.
|
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 004
2
ENDORSEMENT# 5
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
FRAUDULENT TRANSFER INSTRUCTIONS COVERAGE
In consideration of the premium charged, it is agreed that:
|
1.
|
The following Insuring Agreement is added to
this bond: (FTI) FRAUDULENT TRANSFER INSTRUCTIONS
|
Loss resulting directly from the Insured having,
in good faith, transferred money on deposit in a Customer's account, or a Customer's Certificated Securities, in reliance upon
a fraudulent instruction transmitted to the Insured via telefacsimile, telephone, or electronic mail; provided, however that
|
(1)
|
The fraudulent instruction purports, and reasonably
appears, to have originated from:
|
|
(b)
|
an Employee acting on instructions of such Customer; or
|
|
(c)
|
another financial institution acting on behalf
of such Customer with authority to make such instructions; and
|
|
(2)
|
The sender of the fraudulent instruction
verified the instruction with the password, PIN, or other security code of such Customer; and
|
|
(3)
|
The sender was not, in fact, such Customer,
was not authorized to act on behalf of such Customer, and was not an Employee of the Insured; and
|
|
(4)
|
The instruction was received by an Employee
of the Insured specifically authorized by the Insured to receive and act upon such instructions; and
|
|
(5)
|
For any transfer exceeding the Verification
Threshold Amount set forth below, the Insured verified the instruction via a call back to a predetermined telephone number set
forth in the Insured's Written agreement with such Customer or other verification procedure approved in writing by the Underwriter;
and
|
|
(6)
|
The Insured preserved a contemporaneous record
of the call back, if any, and of the instruction which verifies use of the authorized password, PIN or other security code of the
Customer.
|
The Verification Threshold Amount applicable to this FRAUDULENT TRANSFER
INSTRUCTIONS Insuring Agreement is: $50,000.
©All rights reserved.
END 005
1
ENDORSEMENT# 5 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
2.
|
Solely with respect to the FRAUDULENT TRANSFER
INSTRUCTIONS Insuring Agreement, the following definitions shall apply:
|
(FTI-1) “Certificated
Security” means a share, participation or other interest in property of or an enterprise of the issuer or an obligation of
the issuer, which is:
|
(i)
|
represented by a written instrument issued in bearer or registered
form;
|
|
(ii)
|
of a
type commonly dealt in
on securities exchanges or markets
or commonly recognized in
any area in
which it is issued
or dealt in
as a medium for investment;
and
|
|
(iii)
|
either one of a class or series or by its
terms divisible into a class or series of shares, participations, interests or obligations.
|
(FTI-2) “Customer”
means a natural person or entity which has a written agreement with the Insured authorizing the Insured to transfer money on deposit
in an account or Certificated Securities in reliance upon instructions transmitted to the Insured via the means utilized to transmit
the fraudulent instruction.
|
3.
|
It shall be a condition precedent to coverage
under the FRAUDULENT TRANSFER INSTRUCTIONS Insuring Agreement that the Insured assert any available claims, offsets or defenses
against such Customer, any financial institution or any other party to the transaction.
|
|
4.
|
The following additional Exclusions are added
to the Bond applicable only to this Insuring Agreement:
|
(FTI-1) loss resulting
directly or indirectly from a fraudulent instruction if the sender, or anyone acting in collusion with the sender, ever had authorized
access to such Customer's password, PIN or other security code; and
(FTI-2) loss resulting
directly or indirectly from the fraudulent alteration of an instruction to initiate an automated clearing house (ACH) entry, or
group of ACH entries, transmitted as an electronic message, or as an attachment to an electronic message, sent via the Internet,
unless:
|
(i)
|
each ACH entry was individually verified
via the call back procedure without regard to the amount of the entry; or
|
©All rights reserved.
END 005
2
ENDORSEMENT# 5 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(ii)
|
the instruction was formatted, encoded or encrypted
so that any alteration in the ACH entry or group of ACH entries would be apparent to the Insured.
|
|
5.
|
The “Optional Insuring Agreements
and Coverages” section of Item 3 of the Declarations of this bond is amended by adding the following at the end thereof:
|
|
Limit of Liability
|
Deductible
|
Insuring Agreement (FTI)- FRAUDULENT TRANSFER INSTRUCTIONS
|
$10,000,000
|
$50,000
|
|
6.
|
Nothing contained herein shall be held to vary,
alter, waive, or extend any of the terms, limitations, conditions or agreements of the attached bond other than as above stated.
|
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 005
3
ENDORSEMENT#
6
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AUTOMATED TELEPHONE TRANSACTIONS
It is agreed that this Bond is amended as follows:
|
1.
|
By adding the following INSURING AGREEMENT:
|
(L) AUTOMATED PHONE SYSTEM
Loss resulting directly from the Insured having
transferred funds on the faith of any Automated Phone System (APS) Transaction, where the request for such APS Transaction is unauthorized
or fraudulent and is made with the intent to deceive. In order for coverage to apply under this INSURING CLAUSE the INSURED shall
maintain and follow all APS Designated Procedures with respect to APS Transactions. The isolated failure of the INSURED to maintain
and follow a particular APS Designated Procedure in a particular instance will not preclude coverage under this INSURING CLAUSE
subject to the exclusions herein and in the Bond.
|
2.
|
By adding to the DEFINITIONS SECTION, the following:
|
“Automated Phone System” or
“APS” means an automated system which receives and converts to executable instructions transmissions over the telephone
through use of a touch-tone keypad or other tone system or voice recognition system; and always excluding transmissions from a
computer system or part thereof.
“APS Transaction means any APS Purchase,
APS Redemption, APS Election or APS Exchange.
“APS Purchase” means any purchase
of shares issued by an Investment Company which is requested through an Automated Phone System.
“APS Redemption“ means any redemption
of shares issued by an Investment Company which is requested over the telephone by means of information transmitted by an individual
caller through use of a telephone keypad or voice recognition system.
“APS Election“ means any election
concerning various account features available to Fund shareholders which is made over the telephone by means of information transmitted
by an individual caller through use of a telephone keypad or voice recognition system. These features include account statements.
auto exchange, auto asset builder, automatic withdrawal, dividend/capital gain options. dividend sweep. telephone balance consent
and change of address.
©All rights reserved.
END 006
1
ENDORSEMENT# 6 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
“APS Exchange“ means any
exchange of shares in a registered account of one Fund into shares in an account with the same tax identification number and same
ownership-type code of another Fund in the same complex pursuant to exchange privileges of the two Funds, which exchange is requested
over the telephone by means of information transmitted by an Individual caller through use of a telephone keypad or voice recognition
system.
“APS Designated Procedures“ means all
of the following procedures:
|
(1)
|
Election in Application: No APS Redemption
shall be executed unless the shareholder to whose account such an APS Redemption relates has previously elected to permit Telephone
Redemptions.
|
|
(2)
|
Logging: All APS Purchases, Redemptions
or Exchanges shall be logged or otherwise recorded and the records shall be retained for at least six (6) months.
|
|
(a)
|
Information contained in the records shall
be capable of being retrieved and produced within a reasonable time after retrieval of specific information is requested, at a
success rate of no less than 85 percent.
|
|
(3)
|
Identity Test: The caller in any request
for an APS Transaction, must first input his/her account number, the last four digits of his/her social security number, and finally,
his/her personal identification number (“PIN”). It is proposed that in addition to this procedure, a customer may:
|
|
(i)
|
Begin by saying or pressing his/her account
number, then say or press his/her PIN, or
|
|
(ii)
|
Begin by saying or pressing his/her social
security number, then say or press his/her PIN and lastly, say name of fund or account number (or press account number).
|
|
(iii)
|
Limited attempts to Enter PIN: If the caller fails to enter
a correct PIN within
|
(3)
three attempts, the caller must not be allowed additional attempts during the same telephone
call to enter the PIN. The caller may either be instructed to redial a customer service representative or may be immediately connected
to such a representative.
|
(4)
|
Written Confirmation: A written confirmation
of any APS Purchase, Redemption, Exchange or change of address shall be mailed to the shareholder(s) to whose account such transaction
relates, at the record address, by the end of the
|
©All rights reserved.
END 006
2
ENDORSEMENT# 6 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
insured's next regular processing cycle, but in no event
later than five (5) business days following such APS Transaction.
|
(5)
|
Access to APS Equipment: Access to
the equipment which permits the entity receiving the APS Transaction request to process and effect the transaction shall be limited
in the following manner: BNY MELLON INVESTMENT SERVICING, INC. and DST Systems, Inc., accesses the hardware housing the Mutual
Fund On-Line system which effects transactions.
|
|
3.
|
By adding the following SECTION after Section 2, EXCLUSIONS:
|
This bond does not directly or indirectly cover under AUTOMATED
PHONE SYSTEMS INSURING AGREEMENT any loss resulting from:
(L-1) the redemption
of shares, where the proceeds of such redemption are made payable to other than (i) the shareholder of record, or (ii) a person
designated to receive redemption proceeds, or (iii) a bank account designated to receive redemption proceeds;
(L-2) the redemption
of shares, where the proceeds of such redemption are paid by check mailed to an address that has been changed within thirty (30)
days immediately preceding the redemption, unless (i) the change of address was signature guaranteed or (ii) the change of address
was otherwise processed in accordance with APS Designated Procedures;
(L-3) the redemption
of shares, where the proceeds of such redemption are paid by wire transfer to other than the shareholders designated bank account
of record; or
(L-4) the intentional failure to adhere to one or
more APS Designated Procedures.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 006
3
ENDORSEMENT#
7
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
It is agreed that:
AMENDED FIDELITY
AGREEMENT (ELECTRONIC DAMAGE OR DESTRUCTION)
|
1.
|
Insuring Agreement (A) FIDELITY is hereby deleted
in its entirety and replaced with the following:
|
(1)
Loss resulting directly from dishonest or fraudulent act(s), including Larceny or Embezzlement
committed by an Employee, committed anywhere and whether committed alone or in collusion with others including loss of Property
resulting from such acts of an Employee, which Property is held by the Insured for any purpose or in any capacity and whether or
not the Insured is liable thereof.
Dishonest or fraudulent
act(s) as used in this Insuring Agreement shall mean only dishonest or fraudulent act(s) committed by such Employee with the intent:
|
(a)
|
to cause the Insured to sustain such loss; or
|
|
(b)
|
to obtain financial benefit for the Employee,
or for any other person or organization intended by the Employee to receive such benefit, other than salaries, commissions, fees,
bonuses, promotions, awards, profit sharing, pensions or other employee benefits earned in the normal course of employment.
|
Notwithstanding the foregoing,
however, it is agreed that with regards to loss resulting directly or indirectly from loans and/or trading, this bond covers only
loss resulting directly from dishonest or fraudulent acts committed by an Employee with the intent to cause the Insured to sustain
such loss and which results in a financial benefit for the Employee.
As used in this Insuring
Agreement, “financial benefit” does not include any employee benefits earned in the normal course of employment, including:
salaries, commissions, fees, bonuses, promotions, awards, profit sharing or pensions.
It is agreed that in determining
the amount of any loss payable under this bond, the Insured may include payments to individual Employees which are salaries, commissions,
fees, bonuses, and the like, as part of such loss, provided that such
©All rights reserved.
END 007
1
ENDORSEMENT#
7 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
payments have been solely as the result of the
Employee having committed a dishonest or fraudulent act covered under this bond.
(2)
Loss resulting directly from the malicious destruction of or the malicious damage to an Electronic
Instructions, Electronic Data or Electronic Media in an Insured’s Computer System committed by an Employee, whether committed
alone or in collusion with others, provided that any coverage afforded under this bond by virtue of this subparagraph (2) shall
only apply to loss that is Restoration Costs.
|
2.
|
Solely for the purpose of Insuring Agreement
(A) FIDELITY (as amended by this rider), the following definitions are added to the attached bond:
|
“Computer Systems” means:
|
(1)
|
computers with related peripheral components,
including storage compartments wherever located including internet access or remote access to said Computer Systems,
|
|
(2)
|
systems and application software,
|
|
(4)
|
related communication networks or customer communication
systems including the internet, and
|
|
(5)
|
related electronic funds transfer systems
that are currently utilized by the Insured.
|
As used herein, “the Insured’s Computer
System” shall mean a Computer System operated by the Insured, whether owned or leased; or a Computer System identified in
the application for this bond.
“Electronic Data”
means facts or information converted to a form usable in Computer System and which is stored on Electronic Media for use by computer
programs.
“Electronic Instruction”
means computer programs converted to a form usable in a Computer System to act upon Electronic Data.
“Electronic Media” means the magnetic
tape, magnetic disk, optical disk or any other bulk media on which data is recorded.
©All rights reserved.
END 007
2
ENDORSEMENT#
7 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
“Loans” means all extensions
of credit by the Insured and all transactions creating a creditor relationship in favor of the Insured and all transactions by
which the Insured assumes an existing creditor relationship.
“Restoration Costs” means Restoration
Costs means reasonable and necessary costs or expenses incurred by the Insured with the Underwriter’s prior written consent
to restore or repair an Insured’s damaged or destroyed Electronic Data, Electronic Instructions or Electronic Media; provided
that if it is determined that such Electronic Data, Electronic Instructions or Electronic Media cannot be restored or repaired,
then Restoration Costs means solely those reasonable costs or expenses incurred by the Insured, with the Underwriter’s prior
written consent, to reach such determination.
Notwithstanding the foregoing, Restoration Costs
shall not include, and in no event shall any Insuring Agreement of this bond cover:
|
(1)
|
any costs related directly or indirectly
to the damage or destruction of Electronic Data, Electronic Media or Electronic Instructions (or other software or programs) that
the Insured did not have a license to use; or
|
|
(2)
|
any costs or expenses incurred to redo the
work product, research or analysis that was the basis of any damaged or destroyed Electronic Data, Electronic Media or Electronic
Instructions (or other software or programs).
|
“Trading” means trading or other dealings
in securities, commodities, futures, options, swaps, foreign or federal funds, currencies, foreign exchange and the like.
|
3.
|
Solely with respect to this rider, Section 5.
VALUATION OF PROPERTY is amended by adding the following at the end thereof:
|
Electronic Data, Electronic Media, or Electronic
Instruction
In case of loss of, or
damage to, Electronic Data, Electronic Media, or Electronic Instruction that is covered by this bond, the Underwriter’s liability
under this Bond shall be limited to the cost to reproduce the Electronic Data, Electronic Media or Electronic Instructions from
other Electronic Data, Electronic Media or Electronic Instruction of the same kind of quality and then for not more than the cost
of the blank media and/or the cost of labor for the actual transcription or copying of data which shall have been furnished by
the Insured in order to reproduce such Electronic Data, Electronic Media or Electronic Instruction subject to the applicable Limit
of
©All rights reserved.
END 007
3
ENDORSEMENT# 7 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
Liability. In the event that any Electronic
Data, Electronic Media or Electronic Instruction cannot be reproduced as outlined in this paragraph, the valuation of such Electronic
Data, Electronic Media, or Electronic Instruction shall be those reasonable and necessary costs or expenses incurred by the Insured
with the Underwriter’s prior consent to reach such determination that such Electronic Data, Electronic Media or Electronic
Instruction cannot be reproduced.
However, if such Electronic Data cannot be reproduced
and said Electronic Data represents securities or other financial instruments having a value, then said loss will be valued as
indicated in the Securities and other Property paragraphs of this Section.
In case of loss of, or damage to, Electronic
Media used by the Insured that is covered by this bond, the Underwriter shall be liable under this bond only if replaced and then
only for not more than the actual cost of replacing the damaged or destroyed media with blank media of a similar kind of quality.
|
4.
|
Nothing herein contained shall be held to vary,
alter, waive or extend any of the terms, limitations conditions or agreements of the attached policy other than as above stated.
|
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 007
4
ENDORSEMENT#
8
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
DESTRUCTION OF DATA OR PROGRAMS BY VIRUS
RIDER
It is agreed that:
|
1.
|
The INSURING AGREEMENTS Clause of the
attached bond is amended by adding the following additional Insuring Agreement to the end thereof:
|
DESTRUCTION OF DATA OR PROGRAMS BY VIRUS
(DV) Loss that is Restoration Costs resulting
directly from the malicious destruction of, or damage to, Electronic Data, Electronic Media or Electronic Instructions owned by
the Insured or for which the Insured is legally liable while stored within the Insured’s Computer System if such destruction
or damage was caused by a computer program or similar instruction which was written or altered to incorporate a hidden instruction
designed to destroy or damage Electronic Data, Electronic Media or Electronic Instructions in the Computer System in which the
computer program or instruction so written or so altered is used.
Special Condition: with respect to the
coverage provided under this Insuring Agreement, all covered Restoration Costs incurred by the Insured between the time destruction
or damage is discovered and the time the affected Electronic Data, Electronic Media or Electronic Instruction(s) is/are restored
or repaired (or a determination has been made that such restoration or repair is impossible) shall be treated as a single “loss”
and subject to the applicable Limit of Liability. Recurrence of destruction or damage after the Electronic Data, Electronic Media
or Electronic Instruction(s) is/are restored or repaired shall constitute a separate single “loss”.
|
2.
|
The section of Item 3 of the Declarations entitled
“Optional Insuring Agreements and Coverages” is amended by adding the following:
|
|
Limit of Liability
|
Deductible
|
Insuring Agreement (DV) – DESTRUCTION OF
DATA OR PROGRAMS BY VIRUS
|
$10,000,000
|
$50,000
|
©All rights reserved.
END 008
1
ENDORSEMENT# 8 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
3.
|
All the definitions stated in paragraph 2
of the Extended Computer Systems Rider of this bond shall also apply to the coverage granted under Insuring Agreement (DV).
|
|
4.
|
Solely with respect to the coverage provided
by this rider, the following definition is added to the attached bond:
|
DV-1. “Restoration
Costs” means reasonable and necessary costs or expenses incurred by the Insured with the Insurer’s prior written consent
to restore or repair damaged or destroyed Electronic Data, Electronic Media or Electronic Instruction within a Computer System;
provided that if it is determined that such Electronic Data, Electronic Media or Electronic Instructions cannot be restored or
repaired, then Restoration Costs means solely those reasonable costs or expenses incurred by the Insured, with the Insurer’s
prior written consent, to reach such determination.
Notwithstanding the
foregoing or any other provision to the contrary, however, Restoration Costs shall not include, and in no event shall any Insuring
Agreement of this bond cover:
|
(1)
|
any costs related directly or indirectly
to the damage or destruction of Electronic Data, Electronic Media, or Electronic Instructions (or other software or computer programs)
that the Insured did not have a license to use; or
|
|
(2)
|
any costs or expenses incurred to redo the
work product, research or analysis that was the basis of any damaged or destroyed Electronic Data, Electronic Media or Electronic
Instructions (or other software or computer programs).
|
|
5.
|
It is further understood and agreed that all
the exclusions stated in paragraph 3 of the Extended Computer Systems Rider of this bond shall also apply to the coverage granted
under Insuring Agreement (DV).
|
|
6.
|
It is further understood and agreed that
all the amendments to Section 5. VALUATION OF PROPERTY stated in paragraph 4 of the Extended Computer Systems Rider of this bond
shall also apply to the coverage granted under Insuring Agreement (DV).
|
©All rights reserved.
END 008
2
ENDORSEMENT# 8 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
7.
|
Nothing contained here shall be held to vary,
alter, waive or extend any of the terms, limitations, conditions, or agreements of the attached bond other than as above stated.
|
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 008
3
ENDORSEMENT# 9
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
ECONOMIC SANCTIONS ENDORSEMENT
Product Name: Investment Company Blanket Bond
This endorsement modifies insurance provided under the following:
Coverage shall only be provided and payment
of loss under this policy shall only be made in full compliance with enforceable United Nations economic and trade sanctions and
the trade and economic sanction laws or regulations of the European Union and the United States of America, including, but not
limited to, sanctions, laws and regulations administered and enforced by the U.S. Treasury Department's Office of Foreign Assets
Control ("OFAC").
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 009
1
ENDORSEMENT# 10
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
DESTRUCTION OF DATA OR PROGRAMS BY HACKER
RIDER
It is agreed that
|
1.
|
The following Insuring Agreement is added to the bond:
|
(DH) DESTRUCTION OF DATA OR PROGRAMS BY HACKER
Loss resulting directly from the malicious destruction
of or damage to, Electronic Data or Computer Programs owned by the Insured or for which the Insured is legally liable while stored
within a Computer System covered under the terms of the Computer Systems rider attached to this bond.
The liability of the Company shall be limited to
the cost of duplication of such Electronic Data or Computer Programs from other Electronic Data or Computer Programs which shall
have been furnished by the Insured.
In the event, however, that destroyed or damaged
Computer Programs cannot be duplicated from other Computer Programs, the Company will pay the cost incurred for computer time,
computer programmers, consultants or other technical specialists as is reasonably necessary to restore Computer Programs to substantially
the previous level of operational capability.
Special Condition
Under this Insuring Agreement, all covered costs
incurred by the Insured between the time destruction or damage is discovered and the time the Computer System is restored to substantially
the previous level of operational capability shall be treated as a single loss and subject to the applicable Limit of Liability.
Recurrence of destruction or damage after the Computer System is restored shall constitute a separate single Loss.
|
2.
|
With respect to Insuring Agreement (DH) Destruction
of Data or Programs by Hacker, the following Definitions are added:
|
©All rights reserved.
END 010
1
ENDORSEMENT# 10 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
“Electronic Data” means facts
or information converted to a form usable in a Computer System by Computer Programs and which is stored on magnetic tapes or disks,
or optical storage disks or other bulk media.
“Computer Program” means a set of related
electronic instructions which direct the operations and functions of a computer or devices connected to it which enable the computer
or devices to receive, process, store or send Electronic Data.
“Computer System” shall mean a “Computer
System” covered under the terms of Insuring Agreement (J) (Computer Systems Fraud) of this bond.
|
3.
|
The section of Item 3 of the Declarations entitled
“Optional Insuring Agreements and Coverages” is amended by adding the following:
|
|
Limit of Liability
|
Deductible
|
Insuring Agreement (DH) - DESTRUCTION OF DATA OR PROGRAMS BY HACKER
|
$10,000,000
|
$50,000
|
|
4.
|
Nothing herein contained shall be held to vary,
alter, waive or extend any of the terms, limitations, conditions or agreements of the attached bond other than as above stated.
|
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 010
2
ENDORSEMENT#
11
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
COMPUTER SYSTEMS FRAUD INSURING AGREEMENT
It is agreed that:
|
1.
|
The attached bond is amended by adding an Insuring Agreement as follows:
|
(J) COMPUTER SYSTEMS FRAUD
Loss resulting directly from a fraudulent
|
(1)
|
entry of Electronic Data or Computer Program into, or
|
|
(2)
|
change of Electronic Data or Computer Program
within any Computer System used by the Insured;
|
provided that the fraudulent entry or change causes
|
(i)
|
Property to be transferred, paid or delivered,
|
|
(ii)
|
an account of the Insured, or of its customer,
to be added, deleted, debited or credited, or
|
|
(iii)
|
an unauthorized account or a fictitious account to be debited or credited.
|
In this Insuring Agreement, “fraudulent
entry or change” shall include such entry or change made by an Employee of the Insured acting in good faith on an instruction
from a software contractor who has a written agreement with the Insured to design, implement or service programs for a Computer
System covered by this Insuring Agreement.
|
2.
|
In addition to the Conditions and Limitations
in this bond, the following, applicable to the Computer Systems Fraud Insuring Agreement, are added:
|
DEFINITIONS
(CSF-A) Computer Program
means a set of related electronic instructions which direct the operations and functions of a computer or devices connected to
it which enable the computer or devices to receive, process, store or send Electronic Data.
(CSF-B) Computer System means:
©All rights reserved.
END 011
1
ENDORSEMENT#
11 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(1)
|
computers with related peripheral components,
including storage compartments wherever located including internet access or remote access to said Computer System,
|
|
(2)
|
systems and applications software,
|
|
(3)
|
terminal devices, and
|
|
(4)
|
related communication networks or customer
communications systems including the internet, and
|
|
(5)
|
related electronic funds transfer systems
that is currently utilized by the Insured,
|
by which Electronic Data are electronically
collected, transmitted, processed, stored and retrieved.
(CSF-C) Electronic Data
means facts or information converted to a form usable in a Computer System by Computer Programs, and which is stored on magnetic
tapes or disks, or optical storage disks or other bulk media.
EXCLUSIONS
This bond shall not cover:
(CSF-A) loss resulting directly
or indirectly from the assumption of liability by the Insured by contract unless the other liability arises from a loss covered
by the Computer Systems Fraud Insuring Agreement and would be imposed on the Insured regardless of the existence of the contract;
(CSF-B) loss resulting directly
or indirectly from negotiable instruments, securities, documents or other written instruments which bear a forged signature, or
are counterfeit, altered or otherwise fraudulent and which are used as source documentation in the preparation of Electronic Data
or manually keyed into a data terminal.
(CSF-C) loss resulting directly or indirectly from
|
(1)
|
mechanical failure, faulty construction, error
in design, latent defect, fire, wear or tear, gradual deterioration, or electrical disturbance or electrical surge which affects
a Computer System, or
|
|
(2)
|
failure or breakdown of electronic data processing media, or
|
©All rights reserved.
END 011
2
ENDORSEMENT#
11 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(3)
|
error or omission in programming or processing.
|
(CSF-D) loss resulting
directly or indirectly from the input of Electronic Data into a Computer System terminal device either on the premises of a customer
of the Insured or under the control of such a customer by a person who had authorized access to the customer's authentication mechanism;
provided, however, this exclusion shall only apply to loss sustained in that customer’s account.
(CSF-E) loss resulting
directly or indirectly from the theft of confidential information provided, however, that this exclusion shall not apply to any
loss otherwise covered under Insuring Agreement A in which a password was used, and said password is the confidential information.
SERIES OF LOSSES
All loss or series of losses involving the fraudulent
acts of one individual, or involving fraudulent acts in which one individual is implicated, whether or not that individual is specifically
identified, shall be treated as a single loss and subject to the applicable Limit of Liability listed in Item 3 of the Declarations.
A series of losses involving unidentified individuals but arising from the same method of operation shall be deemed to involve
the same individual and in that event shall be treated as a single loss and subject to the applicable Limit of Liability listed
in Item 3 of the Declarations.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 011
3
ENDORSEMENT#
12
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMENDED AUDIT EXPENSE
It is agreed that:
|
1.
|
Audit Expense Insuring Agreement (B) is hereby
deleted and replaced with the following:
|
(B) AUDIT EXPENSE
Expense incurred by the Insured for that part
of the costs of audits or examinations required by any governmental regulatory authority to be conducted either by such authority
or by an independent accountant by reason of the discovery of loss sustained by the Insured through any dishonest or fraudulent
act(s), including Larceny or Embezzlement of any of the Employees or any other Insuring Agreements included in this bond. The total
liability of the Underwriter for such expense by reason of such acts of any Employee or in which such Employee is concerned or
implicated or with respect to any one audit or examination is limited to the amount stated opposite Audit Expense in Item 3 of
the Declarations; it being understood, however, that such expense shall be deemed to be a loss sustained by the Insured through
any dishonest or fraudulent act(s), including Larceny or Embezzlement of one or more of the Employees and the liability under this
paragraph shall be in addition to the Limit of liability stated in Insuring Agreement (A) in Item 3 of the Declarations.
|
2.
|
Nothing herein contained shall be held to
vary, alter, waive or extend any of the terms, limitations conditions or agreements of the attached bond other than as above stated.
|
AUTHORIZED REPRESENTATIVE
1
ENDORSEMENT# 13
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMENDED COUNTERFEIT CURRENCY
It is agreed that:
|
1.
|
INSURING AGREEMENT (G) is deleted in its entirety and replaced by the
following:
|
Loss resulting directly from the receipt by the
Insured, in good faith, of any Counterfeit money orders or altered paper currency or coin of the United States of America, Canada
or any other country.
|
2.
|
Nothing herein contained shall be held to
vary, alter, waive, or extend any of the terms, limitations, conditions, or provisions of the attached bond other than above stated.
|
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 013
1
ENDORSEMENT#
14
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMENDED FORGERY OR ALTERATIONS
It is agreed that:
|
1.
|
Insuring Agreement (E) is hereby deleted in it’s entirety and
replaced with the following:
|
|
(E)
|
FORGERY OR ALTERATION
|
Loss through FORGERY or ALTERATION of, on or
in any bills of exchange, checks, drafts, acceptances, certificates of deposit, promissory notes, or other written promises, orders
or directions to pay sums certain in money, due bills, money orders, warrants, orders upon public treasuries, letters of credit,
written instructions, advices or applications directed to the Insured, authorizing or acknowledging the transfer, payment, delivery
or receipt of funds or Property, which instructions or advices or applications purport to have been signed or endorsed by any customer
or Employee of the Insured, shareholder or subscriber to shares, whether certificated or uncertificated, of any Investment Company
or by any financial or banking institution or stockbroker but which instructions, advices or applications either bear the forged
signature or endorsement or have been altered without the knowledge and consent of such customer, shareholder or subscriber to
shares, whether certificated or uncertificated, of an Investment Company, financial or banking institution or stockbroker, withdrawal
orders or receipts for the withdrawal of funds or Property, or receipts or certificates of deposit for Property and bearing the
name of the Insured as issuer, or of another Investment Company for which the Insured acts as agent, excluding, however, any loss
covered under Insuring Agreement (F) hereof whether or not coverage for Insuring Agreement
|
(F)
|
is provided for in the Declarations of this bond.
|
Any check or draft (a) made payable to a fictitious
payee and endorsed in the name of such fictitious payee or (b) procured in a transaction with the maker or drawer thereof or with
one acting as an agent of such maker or drawer or anyone impersonating another and made or drawn payable to the one so impersonated
and endorsed by anyone other than the one impersonated, shall be deemed to be forged as to such endorsement.
©All rights reserved.
END 014
1
ENDORSEMENT# 14 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
2.
|
Nothing herein contained shall be held to
vary, alter, waive or extend any of the terms, limitations conditions or agreements of the attached bond other than as above stated.
|
Mechanically reproduced facsimile signatures are treated the same as
handwritten signatures.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 014
2
ENDORSEMENT# 15
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMENDED CHANGE OF CONTROL NOTICE
It is agreed that:
|
1.
|
Section 17 – NOTICE AND CHANGE OF CONTROL
is hereby amended by changing the term “30 days” to “60 days”.
|
|
2.
|
Nothing herein contained shall be held to
vary, alter, waive or extend any of the terms, limitations, conditions or agreements of the attached bond other than as above stated.
|
AUTHORIZED REPRESENTATIVE
1
ENDORSEMENT#
16
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
THIRD PARTY CHECK EXCLUSION
It is agreed that:
|
1.
|
By adding to Section 2 Exclusions – the following:
|
(n) loss resulting from or
in connection with acceptance of a Third Party Check, unless the entity which receives such check maintains and proceeds in accordance
with the Insured’s Designated Procedures. This Exclusion does not apply to Insuring Agreement A – FIDELITY.
|
2.
|
The following is added to Section 1, DEFINITIONS:
|
(f) Third Party Check means
a check made payable to one party and offered as payment to another party.
|
3.
|
A Deductible amount of $200,000 will apply to
any one loss as respects Third Party Checks.
|
AUTHORIZED REPRESENTATIVE
1
ENDORSEMENT# 17
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
EXTENDED COMPUTER SYSTEMS RIDER
It is agreed that this bond is amended as follows:
|
1.
|
By adding the following INSURING AGREEMENT:
|
(ECS) EXTENDED COMPUTER SYSTEMS
|
A.
|
Electronic Data, Electronic Media, Electronic Instruction
|
Loss resulting directly from:
|
(1)
|
the fraudulent modification of Electronic
Data, Electronic Media or Electronic Instruction being stored within or being run within the Insured’s Computer System; or
|
|
(2)
|
robbery, burglary, larceny or theft of Electronic
Data, Electronic Media or Electronic Instruction stored within the Insured’s Computer System.
|
|
B.
|
Electronic Communication
|
Loss resulting directly
from the Insured having transferred, paid or delivered any funds or Property, established any credit, debited any account or given
any value on the faith of any electronic communications directed to the Insured, which were transmitted or appear to have been
transmitted through:
|
(1)
|
an Electronic Communication System,
|
|
(2)
|
an automated clearing house or custodian, or
|
|
(3)
|
a Telex, TWX, or similar means of communication,
|
directly into the Insured’s Computer System
or Communication Terminal, and fraudulently purport to have been sent by a Customer automated clearing house, custodian, or financial
institution but which communications were either not sent by said Customer, automated clearing house, custodian, or financial institution,
or were fraudulently modified during physical transit of Electronic Media to the Insured or during electronic transmission to the
Insured’s Computer Systems or Communication Terminal.
|
C.
|
Electronic Transmission
|
©All rights reserved.
END 017
1
ENDORSEMENT# 17 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
Loss resulting directly
from a Customer of the Insured, any automated clearing house, custodian, or financial institution having transferred, paid or delivered
any Property, established any credit, debited any account or given any value on the faith of any Electronic Communications, purporting
to have been directed by the Insured to such Customer, automated clearing house, custodian, or financial institution initiating,
authorizing, or acknowledging, the transfer, payment, delivery or receipt of Property, which communications were transmitted through:
|
(1)
|
an Electronic Communication System,
|
|
(2)
|
an automated clearing house or custodian, or
|
|
(3)
|
a Telex, TWX, or similar means of communication,
|
directly into the Insured’s Computer
System or Communication Terminal of said customer, automated clearing house, custodian, or financial institution and fraudulently
purport to have been directed by the Insured, but which communications were either not sent by the Insured or were fraudulently
modified during physical transit of Electronic Media from the Insured or during electronic transmission from the Insured’s
Computer System or Communication Terminal, and for which loss the Insured is held to be legally liable.
|
2.
|
By adding to Section 1. DEFINITIONS, solely with
respect to Insuring Agreement (ECS), the following:
|
ECS-1. “Communication
Terminal” means a teletype, teleprinter or video display terminal, or similar device capable of sending or receiving information
electronically, Communication Terminal does not mean a telephone.
ECS-2. “Computer System(s)” means:
|
(1)
|
computers with related peripheral components,
including storage compartments wherever located including internet access or remote access to said Computer Systems,
|
|
(2)
|
systems and application software,
|
©All rights reserved.
END 017
2
ENDORSEMENT# 17 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(4)
|
related communication networks or customer
communication systems including the internet, and
|
|
(5)
|
related electronic funds transfer systems
that are currently utilized by the Insured.
|
As used herein, “the Insured’s Computer
System” shall mean a Computer System operated by the Insured, whether owned or leased; or a Computer System identified in
the application for this bond.
ECS-3. “Customer”
means any entity or individual which has a written contract or agreement with the Insured for the purpose of the Insured providing
professional services.
ECS-4. “Electronic
Communication System” means electronic communication operations by Fedwire, Clearing House Interbank Payment System (CHIPS),
Society of Worldwide International Financial Telecommunication (SWIFT), similar automated interbank communication system, and Internet
access facilities.
ECS-5. “Electronic Data”
means facts or information converted to a form usable in Computer System and which is stored on Electronic Media for use by computer
programs.
ECS-6. “Electronic
Instruction” means computer programs converted to a form usable in a Computer System to act upon Electronic Data.
ECS-7. “Electronic
Media” means the magnetic tape, magnetic disk, optical disk or any other bulk media on which data is recorded.
|
3.
|
By adding the following to Section 2. EXCLUSIONS of the bond:
|
It is further understood and agreed that notwithstanding
any provision to the contrary, this bond does not cover:
|
(1)
|
any costs related directly or indirectly
to the damage or destruction of Electronic Data, Electronic Media, or Electronic Instructions (or other software or computer programs)
that the Insured did not have a license to use; or
|
©All rights reserved.
END 017
3
ENDORSEMENT# 17 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(2)
|
any costs or expenses incurred to redo the
work product, research or analysis that was the basis of any damaged or destroyed Electronic Data, Electronic Media or Electronic
Instructions (or other software or computer programs).
|
It is further understood and agreed
that Insuring Agreement (ECS) does not cover: (ECS-A) loss resulting directly or indirectly from Forged, altered or fraudulent
negotiable instruments, Securities, documents
or other written instruments used as source documentation in the preparation of Electronic Data:
(ECS-B) loss of negotiable
instruments, Securities, documents or other written instruments except as converted to Electronic Data and then only in that converted
from;
(ECS-C) loss resulting from
mechanical failure, faulty construction, error in design, latent defect, wear or tear, gradual deterioration, electrical disturbance,
Electronic Media failure or breakdown or any malfunction or error in programming or error or omission in processing;
(ECS-D) loss resulting
directly or indirectly from the input of Electronic Data at an authorized electronic terminal of an Electronic Funds Transfer System
or a Customer Communications System by a person who has authorized access from a Customer to that Customer’s authentication
mechanism, provided however, this exclusion shall only apply to loss sustained in that particular Customer’s account;
(ECS-E) liability assumed
by the Insured by agreement under any contract, unless such liability would have attached to the Insured even in the absence of
such agreement; or
(ECS-F) loss resulting directly or indirectly from:
|
(1)
|
written instruction unless covered under this Insuring Agreement;
or
|
|
(2)
|
instruction by voice over the telephone,
unless covered under this Insuring Agreement.
|
(ECS-G) loss resulting directly
or indirectly from the input data into a Computer System terminal, either on the premises of the Customer of the Insured or under
the control of such a Customer by a Customer or other person who had authorized access to the Customer’s authentication mechanism,
©All rights reserved.
END 017
4
ENDORSEMENT#
17 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
provided, however, this exclusion shall only apply to loss sustained
in that particular Customer’s account.
|
4.
|
By adding to Section 5. VALUATION OF PROPERTY the following:
|
Electronic Data, Electronic Media, or Electronic
Instruction
In case of loss of, or
damage to, Electronic Data, Electronic Media, or Electronic Instruction that is covered by this bond, the Underwriter’s liability
under this Bond shall be limited to the cost to reproduce the Electronic Data, Electronic Media or Electronic Instructions from
other Electronic Data, Electronic Media or Electronic Instruction of the same kind of quality and then for not more than the cost
of the blank media and/or the cost of labor for the actual transcription or copying of data which shall have been furnished by
the Insured in order to reproduce such Electronic Data, Electronic Media or Electronic Instruction subject to the applicable Limit
of Liability. In the event that any Electronic Data, Electronic Media or Electronic Instruction cannot be reproduced as outlined
in this paragraph, the valuation of such Electronic Data, Electronic Media, or Electronic Instruction shall be those reasonable
and necessary costs or expenses incurred by the Insured with the Underwriter’s prior consent to reach such determination
that such Electronic Data, Electronic Media or Electronic Instruction cannot be reproduced.
However, if such Electronic Data cannot be reproduced
and said Electronic Data represents securities or other financial instruments having a value, then said loss will be valued as
indicated in the Securities and other Property paragraphs of this Section.
In case of loss of, or damage to, Electronic
Media used by the Insured that is covered by this bond, the Underwriter shall be liable under this bond only if replaced and then
only for not more than the actual cost of replacing the damaged or destroyed media with blank media of a similar kind of quality.
|
5.
|
The section of Item 3 of the Declarations entitled
“Optional Insuring Agreements and Coverages” is amended by adding the following:
|
|
Limit of Liability
|
Deductible
Deductible
|
Insuring Agreement (ECS) – EXTENDED COMPUTER
SYSTEMS
|
$10,000,000
|
$50,000
|
©All rights reserved.
END 017
5
ENDORSEMENT#
17 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
6.
|
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, limitations, conditions or agreements or the attached bond other than as above stated.
|
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 017
6
ENDORSEMENT# 18
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
DEFINITION OF EMPLOYEE AMENDED
It is agreed that:
|
1.
|
The definition of Employee in Section 1.
DEFINITIONS of this bond is amended to include the following individuals identified below as indicated by a check in the corresponding
box:
|
EMPLOYEES (coverage included ONLY if box checked)
|
(10) non-fund soliciting volunteer workers while working under the direction and control of the Insured;
|
X
|
(11)
|
employees of;
|
|
performing
|
work
|
duties
|
for
|
|
(11)
employees of;________performing work duties for ____________;
|
|
(12) non-compensated officers, directors or trustees while performing duties as an employee;
|
X
|
(13) interns and non-compensated interns;
|
X
|
(14) Consultants (as defined below), including but
not limited to:
- A consultant retained
by the Insured and an Employee of such consultant while either is performing consulting services for the Insured pursuant to a
written agreement.
|
X
|
(15) retired employees employed on a consulting, contingent or part-time basis;
|
X
|
(16) former employees for up to sixty (60) days after termination, provided termination was not due to a loss covered by the bond;
|
X
|
(17) any employee on an approved leave of absence or military deployment;
|
X
|
|
|
|
|
|
|
|
|
©All rights reserved.
END 018
1
ENDORSEMENT#
18 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
(18) any employee who has been granted a waiver of a prior dishonesty situation by any insurer providing a Financial Institution Bond or similar type of coverage for the Insured;
|
X
|
(19)
a person who is a registered representative or a registered principal associated with an Insured,
except a:
-
sole proprietor,
-
sole stockholder,
-
director or trustee of an Insured who is not performing acts coming within the scope of the
usual duties of an officer or an employee, or
-
partner;
|
|
(20) each natural person, partnership or corporation authorized under written contract with the Insured to design, prepare, supply or service electronic computer instructions for computer systems of the Insured, herein called independent software contractor; each such independent software contractor and the partners, officers and employees of such independent software contractor shall, collectively, be deemed to be one employee for all the purposes of the bond, excepting, however, the last paragraph of Section 13. TERMINATION of this bond;
|
|
(21) a natural person leased to the Insured by a labor leasing firm under a written agreement between the Insured and the firm, to perform duties related to the conduct of the Insured’s business; and
|
X
|
(22) temporary or part-time workers.
|
X
|
©All rights reserved.
END 018
2
ENDORSEMENT#
18 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
(23) any partner, officer or employee of an investment adviser, an underwriter (distributor), a transfer agent or shareholder accounting record keeper or an administrator, sub-advisor or sub-administrator, for an Investment Company while performing acts coming within the scope of the customary and usual duties of an officer or employee of an Investment Company or acting as a member of any committee duly elected or appointed to examine, audit or have custody of or access to Property of an Investment Company.
|
X
|
|
2.
|
For the purposes herein, Employees of one
Insured are considered Employees of all Insureds.
|
|
3.
|
As used herein, “Consultant”
means a professional consultant under contract, either directly or through such consultant’s company or firm, with the Insured
to provide solely consulting services to the Insured and Consultant is under the supervision, direction and control of the Insured.
|
|
4.
|
In Section 1. DEFINITIONS of this bond, the definition
of “Employee,” is amended by deleting subparagraph (9) in its entirety and replacing it with the following:
|
|
(9)
|
any officer, partner or Employee of
|
|
a)
|
an investment advisor,
|
|
b)
|
an underwriter (distributor),
|
|
c)
|
a transfer agent or shareholder accounting record-keeper, or
|
|
d)
|
an administrator authorized by written agreement
to keep financial and/or other required records,
|
for an Investment Company named as Insured while
performing acts coming within the scope of the usual duties of an officer or Employee of any Investment Company named as Insured
herein, or while acting as a member of any committee duly elected or appointed to examine or audit or have custody of or access
to the Property of any such Investment Company, provided that only Employees or partners of a transfer agent, shareholder accounting
record-keeper or administrator which is an affiliated person as defined in the Investment Company Act of 1940, of an Investment
©All rights reserved.
END 018
3
ENDORSEMENT# 18 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
Company named as Insured or is an affiliated
person of the adviser, underwriter or administrator of such Investment Company shall be included within the definition of Employee.
Each employer of temporary personnel or processors
as set forth in Sub-Sections (6) and of Section 1(a) and their partners, officers and employees shall collectively be deemed to
be one person for all the purposes of this bond, excepting, however, the last paragraph of Section 13.
Brokers, or other agents under contract or representatives
of the same general character shall not be considered Employees.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 018
4
ENDORSEMENT# 19
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND INSURING AGREEMENT (I) UNCOLLECTIBLE
ITEMS OF DEPOSIT
In consideration of the premium charged, it is
hereby understood and agreed that INSURING AGREEMENT (I), UNCOLLECTIBLE ITEMS OF DEPOSIT is deleted in its entirety
and replaced with the following:
(I) UNCOLLECTIBLE ITEMS OF DEPOSIT
Loss resulting from payments of dividends or fund
shares, or withdrawals permitted from any customer’s, shareholder’s or subscriber’s account based upon Uncollectible
Items of Deposit of a customer, shareholder or subscriber credited by the Insured or the Insured’s agent to such customer’s,
shareholder’s or subscriber’s Mutual Fund Account; or
Loss resulting from any Item of Deposit processed
through an Automated Clearing House which is reversed by the customer, shareholder or subscriber and deemed uncollectible by the
Insured.
Loss includes dividends and interest accrued not
to exceed 15% of the Uncollectible Items which are deposited.
This Insuring Agreement applies to all Mutual Funds
with “exchange privileges” regardless of the number of transactions between Fund(s), the minimum number of days of
deposit within the Fund(s) before withdrawal as declared in the Fund(s) prospectus shall begin from the date a deposit was first
credited to any Insured Fund(s).
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 019
1
ENDORSEMENT# 20
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND GENERAL AGREEMENT A- 15%
In consideration of the premium charged, it is hereby understood and agreed
that in
GENERAL AGREEMENTS (A), ADDITIONAL
OFFICES OR EMPLOYEES –CONSOLIDATION
OR MERGER-NOTICE is deleted in its entirety and replaced with the following:
|
A.
|
ADDITIONAL OFFICES OR EMPLOYEES- CONSOLIDATION OR MERGER-NOTICE
|
|
1.
|
If the Insured shall, while this bond is in
force, establish any additional office or offices, such office or offices shall be automatically covered hereunder from the dates
of their establishment, respectively. No notice to the Underwriter of an increase during any premium period in the number of offices
or in the number of Employees at any of the offices covered hereunder need be given and no additional premium need be paid for
the remainder of such premium period.
|
|
2.
|
If an Investment Company, named as Insured
herein, shall, while this bond is in force, merge or consolidate with, or purchase the assets of another institution, coverage
for such acquisition shall apply automatically from the date of acquisition. The Insured shall notify the Underwriter of such acquisition
within 60 days of said date, and an additional premium shall be computed only if such acquisition involves additional offices or
employees.
|
Notwithstanding the foregoing, if the Insured
shall, while this bond is in force, consolidate or merge with, or purchase or acquire assets or liabilities of, another institution,
the Insured shall automatically have such coverage as is afforded under this bond for loss without an additional premium charge
for the remainder of the current bond period provided that:
|
(a)
|
the assets acquired as a result of such consolidation,
merger, purchase or acquisition are less than fifteen percent (15%) of the assets of the Insured on the date of such consolidation,
merger, purchase or acquisition;
|
|
(b)
|
the consolidation, merger, purchase or acquisition
of assets or liabilities was not through a regulatory-assisted transaction;
|
|
(c)
|
the consolidated or merged institution, or
the assets or liabilities purchased or acquired from another institution, were not the subject of any regulatory
|
©All rights reserved.
END 020
1
ENDORSEMENT# 20 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
agreement or stipulation prior to the effective date of the consolidation,
merger, purchase or acquisition; and
|
(d)
|
the consolidated or merged institution, or
the assets or liabilities purchased or acquired from another institution, have not incurred or been the subject of a loss of a
type payable under this bond in an amount exceeding the deductible amount shown in Item 3 of the Declarations during the preceding
three (3) years.
|
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 020
2
ENDORSEMENT# 21
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 1, DEFINITIONS, PROPERTY
In consideration of the premium charged, it is hereby understood and
agreed that in SECTION 1, DEFINITIONS, (b) ”Property” is deleted in its entirety and replaced with the following:
(b) “Property”
means money (i.e.. currency, coin, bank notes, Federal Reserve notes), postage and revenue stamps, U.S. Savings Stamps, bullion,
precious metals of all kinds and in any form and articles made therefrom, jewelry, watches, necklaces, bracelets, gems, precious
and semi-precious stones, bonds, securities, evidences of debts, debentures, scrip, certificates, interim receipts, warrants, rights,
puts, calls, straddles, spreads, transfers, coupons, drafts, bills of exchange, acceptances, notes, checks, withdrawal orders,
money orders, warehouse receipts, bills of lading, conditional sales contracts, abstracts of title, insurance policies, uncertificated
securities, deeds, mortgages under real estate and/or chattels and upon interests therein, and assignments of such policies, mortgages
and instruments, and other valuable papers, including books of account and other records used by the Insured in the conduct of
its business, and all other instruments similar to or in the nature of the foregoing including electronic representations of such
instruments enumerated above (not including data processing records; however, the cost associated with the reconstruction of data
processing records shall be reimbursed) in which the Insured has an interest or in which the Insured acquired or should have acquired
an interest by reason of a predecessor's declared financial condition at the time of the Insured's consolidation or merger with,
or purchase of the principal assets of, such predecessor or which are held by the Insured for any purpose or in any capacity and
whether so held by the Insured for any purpose or in any capacity and whether so held gratuitously or not and whether or not the
Insured is liable therefore.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
1
ENDORSEMENT#
22
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 2, EXCLUSIONS (H),
In consideration of the premium charged, it is hereby understood
and agreed that SECTION 2, EXCLUSIONS, (h) is deleted in its entirety and replaced with the following:
h) potential income, including
but not limited to interest or dividends, not realized by the Insured because of a loss covered under this bond, except accrued
interest or dividends for which the Insured is legally liable to a customer or other third party or as included under Insuring
Agreement (I).
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
1
ENDORSEMENT#
23
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 2, EXCLUSIONS (J),
In consideration of the premium charged, it is hereby understood
and agreed that SECTION 2, EXCLUSIONS, (j) is deleted in its entirety and replaced with the following:
|
j)
|
loss through the surrender of Property away
from an office of the Insured as a result of a threat
|
|
(1)
|
to do bodily harm to any person, except loss
of Property in transit in the custody of any person acting as messenger provided that when such transit was initiated there was
no knowledge by the Insured of any such threat, except when covered under Insuring Agreement (A). or
|
|
(2)
|
to do damage to the premises or Property
of the Insured, except when covered under Insuring Agreement (A).
|
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
1
ENDORSEMENT# 24
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 2, EXCLUSIONS (M)
In consideration of the premium charged, it is hereby understood
and agreed that SECTION 2, EXCLUSIONS, (m) is deleted in its entirety.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 024
1
ENDORSEMENT# 25
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 4 DISCOVERY - Draft
(POSITIONS OF KNOWLEDGE)
In consideration of the premium charged, it is hereby understood
and agreed that Section 4.
LOSS-NOTICE-PROOF-LEGAL PROCEEDINGS of the
TERMS AND CONDITIONS of the
attached bond is deleted in its entirety and replaced with the
following:
SECTION 4. LOSS -NOTICE -PROOF-LEGAL PROCEEDINGS
This bond is for
the use and benefit only of the Insured named in the Declarations and the Underwriter shall not be liable hereunder for loss sustained
by anyone other than the Insured unless the Insured, in its sole discretion and at its option, shall include such loss in the Insured's
proof of loss. At the earliest practicable moment after discovery of any loss by the Insured, the Insured shall give the Underwriter
written notice thereof and shall also within six months after such discovery furnish to the Underwriter affirmative proof of loss
with full particulars. If claim is made under this bond for loss of securities or shares, the Underwriter shall not be liable unless
each of such securities or shares is identified in such proof of loss by a certificate or bond number or, where such securities
or shares are uncertificated, by such identification means as agreed to by the Underwriter. The Underwriter shall have thirty days
after notice and proof of loss within which to investigate the claim, but where the loss is clear and undisputed, settlement shall
be made within forty-eight hours; and this shall apply notwithstanding the loss is made up wholly or in part of securities of which
duplicates may be obtained. Legal proceedings for recovery of any loss hereunder shall not be brought prior to the expiration of
sixty days after such proof of loss is filed with the Underwriter nor after the expiration of twenty-four months from the discovery
of such loss, except that any action or proceeding to recover hereunder on account of any judgment against the Insured in any suit
mentioned in General Agreement C or to recover attorneys' fees paid in any such suit, shall be begun within twenty-four months
from the date upon which the judgment in such suit shall become final. If any limitation embodied in this bond is prohibited by
any law controlling the construction hereof, such limitation shall be deemed to be amended so as to be equal to the minimum period
of limitation permitted by such law.
Discovery of loss by the Insured occurs when
the Specified Insured Personnel
|
(a)
|
becomes aware of facts, or
|
|
(b)
|
receives written notice of an actual or potential
claim by a third party which alleges that the Insured is liable under circumstance
|
©All rights reserved.
END 025
1
ENDORSEMENT#
25 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
which would cause a reasonable person
to assume that a loss covered by the bond has been or will be incurred even though the exact amount or details of loss may not
be then known.
As used herein “Specified
Insured Personnel” mean any of the personnel listed in the schedule below:
SPECIFIED INSURED PERSONNEL
The BNY Mellon Insurance Manager, Senior
Counsel of BNY Mellon Investment Adviser, Inc. with insurance responsibilities, or Counsel of BNY Mellon Investment Adviser, Inc.
with insurance responsibilities.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 025
2
ENDORSEMENT#
26
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 5, VALUATION OF PROPERTY
In consideration of the premium charged, it is
hereby understood and agreed that in SECTION
5. VALUATION OF PROPERTY is amended by adding the following paragraph:
Any loss of money, or loss payable in money, shall
be paid, at the option of the Insured, in the money of the country in which the loss was sustained or in the United States of America
dollar equivalent thereof as determined at the rate of exchange as published in the Wall Street Journal at the time of discovery
of loss.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 026
1
ENDORSEMENT#
27
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 11. OTHER INSURANCE
In consideration of the premium charged, it is hereby
understood and agreed that in SECTION
11. OTHER INSURANCE is deleted in its entirety and replaced with the following:
If the Insured shall hold, as indemnity against
any loss covered hereunder, any valid and enforceable insurance or suretyship, the Underwriter shall be liable hereunder only for
such amount of such loss which is excess of the amount of such other insurance or suretyship but will remain primary to the Comprehensive
Crime Bond program of The Bank of New York Mellon Corporation led by primary bond FINFW1900615 (12/01/2019 to 12/01/2020) including
renewals and replacements thereof.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 027
1
ENDORSEMENT#
28
This endorsement, effective at
12:01 AM January 31, 2021
forms a part of
Policy number 04-190-80-19
Issued to:
BNY MELLON LARGE CAP SECURITIES
FUND, INC. (AND OT HER INSUREDS INCLUDED BY ENDORSEMENT)
By:
National Union Fire Insurance Company
of Pittsburgh, Pa.
CANCELLATION AMENDATORY (RETURN
PRO RATA)
Wherever used herein: (1) "Policy"
means the policy or bond to which this endorsement or rider is made part of; (2) "Insurer" means the "Insurer,"
"Underwriter," "Company" or other name specifically ascribed in this Policy as the insurance company or underwriter
for this Policy; (3) "Named Entity" means the "Named Entity," "Named Corporation," Named Organization,"
"Named Sponsor," "Named Insured," "First Named Insured," "Insured's Representative," "Policyholder"
or equivalent term stated in Item 1 of the Declarations; and
(4) "Period" means the "Policy
Period," "Bond Period" or equivalent term stated in the Declarations.
In consideration
of the premium
charged, it is hereby
understood and agreed that
notwithstanding anything to the contrary
in any CANCELLATION or
TERMINATION clause of this
Policy (and any
endorsement or rider
amending such cancellation
or termination clause, including
but not limited
to any state cancellation/
non- renewal amendatory
attached to this policy),
if this Policy
shall be canceled
by the Named
Entity, the Insurer
shall return to the
Named Entity the
unearned pro rata
proportion of the
premium as of
the effective date of
cancellation.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
All rights reserved.
2-14057 END
028
101036 (4/ 09) Page
1 of 1
ENDORSEMENT#
29
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 13. TERMINATION
(POSITIONS WITH KNOWLEDGE, PRIOR DISHONESTY
WITH REINSTATEMENT AVAILABLE)
In consideration of the premium charged, it is hereby understood and
agreed that SECTION
13.
TERMINATION of the TERMS AND CONDITIONS of this bond is deleted in its entirety and replaced
with the following:
SECTION 13. TERMINATION
The Underwriter may
terminate this bond as an entirety by furnishing written notice specifying the termination date which cannot be prior to 60 days
after the receipt of such written notice by each Investment Company named as Insured and the Securities and Exchange Commission,
Washington, D.C. The Insured may terminate this bond as an entirety by furnishing written notice to the Underwriter. When the Insured
cancels, the Insured shall furnish written notice to the Securities and Exchange Commission, Washington. D.C. prior to 60 days
before the effective date of the termination. The Underwriter shall notify all other Investment Companies named as Insured of the
receipt of such termination notice and the termination cannot be effective prior to 60 days after receipt of written notice by
all other Investment Companies. Premiums are earned until the termination date as set forth herein.
This Bond will terminate
as to any one Insured immediately upon taking over of such Insured by a receiver or other liquidator or by State or Federal officials,
or immediately upon the filing of a petition under any State or Federal statute relative to bankruptcy or reorganization of the
Insured, or assignment for the benefit of creditors of the Insured or immediately upon such Insured ceasing to exist, whether through
merger into another entity, or by disposition of all of its assets.
This Bond will terminate
as to any registered management investment company upon the expiration of 60 days by the Insured, or 60 days, if by the Underwriter,
after written notice has been given to the Securities and Exchange Commission, Washington D.C.
This Bond shall terminate
|
(a)
|
as to any Employee as soon as any Specified
Insured Personnel, who is not in collusion with such Employee, shall learn of any dishonest or fraudulent act(s), including Larceny
or Embezzlement on the part of such Employee without prejudice to the loss of any Property then in transit in the custody of such
Employee (See Section 16[d]), or
|
©All rights reserved.
END 029
ENDORSEMENT#
29 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(b)
|
as to any Employee 60 days after receipt
by each Insured and by the Securities and Exchange Commission of a written notice from the Underwriter of its desire to terminate
this bond as to such Employee, or
|
|
(c)
|
as to any person, who is a partner, officer
or employee of any Electronic Data Processor covered under this bond, from and after the time that any Specified Insured Personnel
who is not in collusion with such person shall have knowledge or information that such person has committed any dishonest or fraudulent
act(s), including Larceny or Embezzlement in the service of the Insured or otherwise, whether such act be committed before or after
the time this bond is effective.
|
|
(d)
|
In the event that any Specified Insured Personnel
learns of a prior dishonest or fraudulent act committed by a current or prospective Employee, provided the amount involved is less
than $10,000, the coverage is automatically reinstated provided that all Specified Insured Personnel unanimously agree in writing
to the reinstatement.
|
Notwithstanding anything
set forth above, the Underwriter agrees that this bond shall continue to apply in respect of those Employees for whom a written
waiver of a prior dishonest or fraudulent act was granted under any prior bond.
As used herein, “prior
dishonest or fraudulent act” means an act which shows a want of integrity or breach of trust, including but not limited to
an act in disregard of an employer’s interest.
As used herein, “Specified
Insured Personnel” means any of the personnel of the Insured listed in the schedule below:
SPECIFIED INSURED PERSONNEL
The BNY Mellon Insurance Manager, Senior
Counsel of BNY Mellon Investment Adviser, Inc. with insurance responsibilities, or Counsel of BNY Mellon Investment Adviser, Inc.
with insurance responsibilities.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 029
ENDORSEMENT#
30
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 15, CENTRAL HANDLING OF
SECURITIES
In consideration of the premium charged, it is hereby
understood and agreed that in SECTION
15. CENTRAL HANDLING OF SECURITIES is deleted in its entirety and replaced
with the following:
SECTION 15. CENTRAL HANDLING OF SECURITIES
Securities included in the systems for the central
handling of securities established and maintained by Depository Trust Company, Midwest Depository Trust Company, Pacific Securities
Depository Trust Company, and Philadelphia Depository Trust Company, or any similar recognized depository, hereinafter called Corporations,
to the extent of the Insured's interest therein as effective by the making of appropriate entries on the books and records of such
Corporations shall be deemed to be Property.
The words "Employee" and "Employees"
shall be deemed to include the officers, partners, clerks and other employees of the New York Stock Exchange, Boston Stock Exchange,
Midwest Stock Exchange, Pacific Stock Exchange and Philadelphia Stock Exchange, or any similar recognized exchange, hereinafter
called Exchanges, and of the above named Corporations, and of any nominee in whose name is registered any security included within
the systems for the central handling of securities established and maintained by such Corporations, and any employee of any recognized
service company, while such officers, partners, clerks and other employees and employees of service companies perform services
for such Corporations in the operation of such systems. For the purpose of the above definition a recognized service company shall
be any company providing clerks or other personnel to said Exchanges or Corporation on a contract basis.
The Underwriter shall not be liable on account
of any loss(es) in connection with the central handling of securities within the systems established and maintained by such Corporations,
unless such loss(es) shall be in excess of the amount(s) recoverable or recovered under any bond or policy of insurance indemnifying
such Corporations, against such loss(es), and then the Underwriter shall be liable hereunder only for the Insured's share of such
excess loss(es), but in no event for more than the Limit of Liability applicable hereunder.
For the purpose of determining the Insured's share
of excess loss(es) it shall be deemed that the Insured has an interest in any certificate representing any security included within
such systems equivalent to the interest the Insured then has in all certificates representing the
©All rights reserved.
END 030
ENDORSEMENT#
30 (continued)
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
same security included within such systems
and that such Corporations shall use their best judgment in apportioning the amount(s) recoverable or recovered under any bond
or
policy of insurance indemnifying such Corporations
against such loss(es) in connection with the central handling of securities within such systems among all those having an interest
as recorded by appropriate entries in the books and records of such Corporations in Property involved in such loss(es) on the basis
that each such interest shall share in the amount(s) so recoverable or recovered in the ratio that the value of each such interest
bears to the total value of all such interests and that the Insured's share of such excess loss(es) shall be the amount of the
Insured's interest in such Property in excess of the amount(s) so apportioned to the Insured by such Corporations.
This bond does not afford coverage in favor of
such Corporations or Exchanges or any nominee in whose name is registered any security included within the systems for the central
handling of securities established and maintained by such Corporations, and upon payment to the Insured by the Underwriter on account
of any loss(es) within the systems, an assignment of such of the Insured's rights and causes of action as it may have against such
Corporations or Exchanges shall to the extent of such payment, be given by the Insured to the Underwriter, and the Insured shall
execute all papers necessary to secure to the Underwriter the rights provided for herein.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 030
ENDORSEMENT#
31
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION
16 (d) (POSITIONS OF KNOWLEDGE/DISCOVERY)
In consideration of the premium charged, it is hereby understood
and agreed as follows:
|
1.
|
In SECTION 16. ADDITIONAL COMPANIES INCLUDED
AS INSURED of the TERMS AND CONDITIONS of this bond, subparagraph (d) is deleted in its entirety and replaced with the following:
|
(d) knowledge
possessed or discovery made by any Specified Insured Personnel shall for the purposes of Section 4 and Section 13 of this bond
constitute knowledge or discovery by all the Insured, and
|
2.
|
As used herein, “Specified Insured Personnel”
means any of the personnel of the Insured listed in the schedule below:
|
SPECIFIED INSURED PERSONNEL
The BNY Mellon Insurance Manager, Senior
Counsel of BNY Mellon Investment Adviser, Inc. with insurance responsibilities, or Counsel of BNY Mellon Investment Adviser, Inc.
with insurance responsibilities.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 031
ENDORSEMENT#
32
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 17. NOTICE AND CHANGE
OF CONTROL (POSITIONS OF KNOWLEDGE, NOTICE PERIOD)
In consideration of the premium charged,
is it hereby understood and agreed that Section
17.
NOTICE AND CHANGE OF CONTROL of the CONDITIONS AND LIMITATIONS of this bond is deleted in
its entirety and replaced with the following:
SECTION 17. NOTICE AND CHANGE OF CONTROL
Upon the obtaining
of knowledge by the BNY Mellon Insurance Manager, Senior Counsel of BNY Mellon Investment Adviser, Inc. with insurance responsibilities,
or Counsel of BNY Mellon Investment Adviser, Inc. with insurance responsibilities, of a transfer of its outstanding voting securities
which results in a change in control (as set forth in Section 2(a) (9) of the Investment Company Act of 1940) of the Insured, the
Insured shall within sixty (60) days of such knowledge give written notice to the Underwriter setting forth:
|
(a)
|
the names of the transferors and transferees
(or the names of the beneficial owners if the voting securities are requested in another name), and
|
|
(b)
|
the total number of voting securities owned by
the transferors and the transferees (or the beneficial owners), both immediately before and after the transfer, and
|
|
(c)
|
the total number of outstanding voting securities.
|
As used in this section,
control means the power to exercise a controlling influence over the management or policies of the Insured.
Failure to give the
required notice shall result in termination of coverage of this bond, effective upon the date of stock transfer for any loss in
which any transferee is concerned or implicated.
Such notice is not
required to be given in the case of an Insured which is an Investment Company.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 032
ENDORSEMENT#
33
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
CLAIMS EXPENSE ENDORSEMENT
In consideration of the premium charged, it is
hereby understood and agreed that:
|
1.
|
The bond is amended by adding Insuring Agreement
(CE) to the bond as follows: (CE) CLAIMS EXPENSE
|
Reasonable expenses (excluding the cost of services
rendered by employees of the Insured) necessarily incurred and paid by the Insured in preparing any valid claim for loss exceeding
$50,000 that is covered under Insuring Agreements A, B, C, D, E, F, G, H, and/or I and any other valid coverage added by rider.
If no loss is established thereunder, then the Insured will bear all such expenses. There shall be no coverage hereunder for any
expenses arising out of any legal dispute, suit or arbitration with the Underwriter.
|
2.
|
Solely for the purpose of the coverage afforded
by this rider, Section 2. EXCLUSIONS, paragraph (k) is hereby deleted in its entirety.
|
|
3.
|
The section of Item 3 of the Declarations entitled
“Optional Insuring Agreements and Coverages” is amended by adding the following:
|
|
Limit of Liability
|
Deductible
|
Insuring Agreement (CE) - CLAIMS EXPENSE
|
$100,000
|
$10,000
|
|
4.
|
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, limitations, conditions or agreements or the attached bond other than as above stated.
|
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 033
ENDORSEMENT#
34
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
UNAUTHORIZED SIGNATURES
In consideration of the premium charged, it is
hereby understood and agreed that:
|
1.
|
The INSURING AGREEMENTS Clause of the attached
bond is amended by adding the following additional Insuring Agreement to the end thereof:
|
(US) UNAUTHORIZED SIGNATURES
Loss resulting directly from the Insured having
accepted, paid or cashed any check or withdrawal order made or drawn on a customer’s account which bears the signature or
endorsement of one other than a person whose name and signature is on file with the Insured as an authorized signatory on such
account.
It shall be a condition precedent to the Insured’s
right of recovery under this Insuring Agreement that the Insured shall have on file signatures of all persons who are authorized
signatories on such account.
|
2.
|
The section of Item 3 of the Declarations entitled
“Optional Insuring Agreements and Coverages” is amended by adding the following:
|
|
Limit of Liability
|
Deductible
|
Insuring Agreement (US) - UNAUTHORIZED SIGNATURES
|
$100,000
|
$10,000
|
|
3.
|
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, limitations, conditions or agreements or the attached bond other than as above stated.
|
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 034
ENDORSEMENT#
35
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
PROTECTED INFORMATION EXCLUSION
(CARVEBACK)
This endorsement modifies insurance provided
under the following:
EXCESS EDGE FOLLOW FORM BOND
BROKER-DEALER GUARD
INVESTMENT COMPANY BLANKET BOND
In consideration of the premium charged, it
is hereby understood and agreed that this policy does not cover loss resulting directly or indirectly from the: (i) “theft,”
disappearance or destruction of; (ii) unauthorized use or disclosure of; (iii) unauthorized access to; or (iv) failure to protect
any:
|
(1)
|
confidential or non-public; or
|
|
(2)
|
personal or personally identifiable;
|
information that any person or entity has a duty to protect under
any law, rule or regulation, any agreement or any industry guideline or standard.
This exclusion shall not apply to loss of any money, securities or tangible
property:
|
(a)
|
owned by the Insured;
|
|
(b)
|
held by the Insured in any capacity; or
|
|
(c)
|
owned and held by someone else under circumstances
which make the Insured responsible for the Property prior to the occurrence of the loss;
|
that was the subject of a theft, disappearance, damage or destruction
resulting directly from the unauthorized use or disclosure of such information.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 035
ENDORSEMENT#
36
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
It is agreed that:
OMNIBUS NAMED
INSURED (BNY MELLON)
|
1.
|
In addition to the entity listed in Item
1 of the Declaration page, the term “Insured” as used in the attached bond is amended (provided such amendment is permitted
by law) to include:
|
|
(i)
|
any interest now or hereafter owned or controlled
by the Insured, provided any such interest so included as Insured under this bond by reason of this rider must be more than 50%
owned or controlled by the Insured and subject to the provisions of General Agreement A as amended; and
|
|
(ii)
|
any entity set forth in the list of investment
companies submitted to Underwriter as of the bond’s effective date and any investment company now existing or hereafter created
or acquired during the Bond Period, which is advised, sub-advised and/or administered by BNY Mellon Investment Adviser, Inc. or
any entity now or hereafter majority owned or management controlled by BNY Mellon Investment Adviser, Inc., subject to General
Agreement A, shall be added to the attached bond as an additional joint insured. As used herein, the term “majority owned”
shall mean ownership of greater than fifty percent (50%) of the total equity interest of such entity and the term “management
control” shall mean the right to elect, appoint or designate a majority of the board of directors, management committee or
management board of an entity that is not majority owned.
|
|
2.
|
Nothing herein contained shall be held to
vary, alter, waive or extend any of the terms, limitations, conditions or agreements of the attached bond other than as above stated.
|
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 036
ENDORSEMENT#
37
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AUTOMATIC FUND COVERAGE AND LIMIT INCREASE
RIDER
In consideration of the premium charged, it is hereby understood
and agreed that:
|
1.
|
If the Insured shall, while this bond is
in force, establish any new funds other than by consolidation or merger with, purchase or acquisition of assets or liabilities
of, another institution, such funds shall automatically be covered hereunder from the date of such establishment without the payment
of additional premium for the remainder of the premium period.
|
|
2.
|
If the Insured shall, while this bond is in
force, require an increase in limits to comply with SEC Rule 17g-1 of the Investment Company Act of 1940, due to an increase in
asset size of current funds insured under the bond or by the addition of new funds, then such increase in limits shall automatically
be covered hereunder from the date of such increase without the payment of additional premium for the remainder of the premium
period.
|
|
3.
|
Nothing herein contained shall be held to
vary, alter, waive or extend any of the terms, limitations conditions or agreements of the attached bond other than as above stated.
|
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 037
MNSCPT 1
ENDORSEMENT#
38
This endorsement, effective at
12:01AM January 31, 2021 forms a part of Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
NEW YORK PUNITIVE DAMAGES AMENDATORY ENDORSEMENT
Product Name: Investment Company Blanket Bond
It is hereby understood and agreed that notwithstanding
anything to the contrary herein, any coverage for punitive, exemplary and multiplied damages shall not apply if uninsurable under
the law pursuant to which this policy shall be construed. This policy shall be construed under the laws of the state where: (1)
the act or occurrence giving rise to such punitive, exemplary or multiple damages actually or allegedly occurred; (2) the claim
seeking such punitive, exemplary or multiplied damages was brought; (3) the judgment or damages were awarded; or (4) the individual
subject to such punitive, exemplary or multiple damages resides, or where an entity that is subject to such punitive, exemplary
or multiple damages is incorporated or has its principal place of business.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 038
127071 (09/17) 1
ENDORSEMENT#
39
This endorsement,
effective 12:01
AM January 31, 2021
forms a part of
policy
number 04-190-80-19
issued
to
BNY MELLON LARGE CAP SECURITIES FUND, INC. (AND OT HER INSUREDS INCLUDED BY ENDORSEMENT)
by National
Union Fire Insurance Company of Pittsburgh, Pa.
FORMS INDEX ENDORSEMENT
The contents of the Policy is comprised of the following forms:
FORM NUMBER
|
EDITION
DATE
|
FORM TITLE
|
|
41205
|
04/95
|
INVESTMENT COMPANY BLANKET BOND DECLARATIONS
|
|
|
41206
|
09/84
|
Investment Company Blanket Bond guts
|
|
|
83231
|
01/09
|
NEW YORK LAW 3420 AMENDATORY ENDORSEMENT
|
|
|
99758
|
08/08
|
NOTICE OF CLAIM (REPORTING BY E-MAIL)
|
|
|
SR6180b
|
04/88
|
NEW YORK STATUTORY RIDER/ENDORSEMENT
|
|
|
MNSCPT
|
|
VOICE INITIATED TRANSFER FRAUD
|
|
|
127417
|
11/17
|
FRAUDULENT TRANSFER INSTRUCTIONS COVERAGE
|
|
|
MNSCPT
|
|
AUTOMATED TELEPHONE TRANSACTIONS
|
|
|
140032
|
01/21
|
AMENDED FIDELITY AGREEMENT
|
|
|
140064
|
01/21
|
DESTRUCTION OF DATA OR PROGRAMS BY VIRUS RIDER
|
|
|
119679
|
09/15
|
ECONOMIC SANCTIONS ENDORSEMENT
|
|
|
140062
|
01/21
|
DESTRUCTION OF DATA OR PROGRAMS BY HACKER RIDER
|
|
|
132744
|
05/19
|
COMPUTER SYSTEMS FRAUD INSURING AGREEMENT
|
|
|
MNSCPT
|
|
AMENDED AUDIT EXPENSE
|
|
|
MNSCPT
|
|
AMENDED COUNTERFEIT CURRENCY
|
|
|
MNSCPT
|
|
AMENDED FORGERY OR ALTERATIONS
|
|
|
MNSCPT
|
|
AMENDED CHANGE OF CONTROL NOTICE
|
|
|
MNSCPT
|
|
THIRD PARTY CHECK EXCLUSION
|
|
|
140024
|
01/21
|
EXTENDED COMPUTER SYSTEMS RIDER
|
|
|
MNSCPT
|
|
DEFINITION OF EMPLOYEE AMENDED
|
|
|
MNSCPT
|
|
AMEND INSURING
AGREEMENT (I) OF DEPOSIT UNCOLLECTIBLE ITEMS
|
|
|
MNSCPT
|
|
AMEND GENERAL AGREEMENT A- 15%
|
|
|
MNSCPT
|
|
AMEND SECTION 1, DEFINITIONS, PROPERTY
|
|
|
©All rights reserved.
END 039
Page 1 of 2
ENDORSEMENT#
39
This endorsement,
effective 12:01
AM January 31, 2021
forms a part of
policy
number 04-190-80-19
issued
to
BNY MELLON LARGE CAP SECURITIES FUND, INC. (AND OT HER INSUREDS INCLUDED BY ENDORSEMENT)
by National
Union Fire Insurance Company of Pittsburgh, Pa.
FORMS INDEX ENDORSEMENT
The contents of the Policy is comprised of the following forms:
FORM NUMBER
|
EDITION
DATE
|
FORM TITLE AMEND
|
MNSCPT
|
|
SECTION 2, EXCLUSIONS (H), AMEND
|
MNSCPT
|
|
SECTION 2, EXCLUSIONS (J), AMEND
|
MNSCPT
|
|
SECTION 2, EXCLUSIONS (M)
|
MNSCPT
|
|
AMEND SECTION 4 DISCOVERY - Draft
|
MNSCPT
|
|
AMEND SECTION 5, VALUATION OF PROPERTY
|
MNSCPT
|
|
AMEND SECTION 11. OTHER INSURANCE
|
101036
|
04/09
|
CANCELLATION AMENDATORY (RETURN PRO RATA)
|
135619
|
03/20
|
AMEND SECTION 13. TERMINATION
|
MNSCPT
|
|
AMEND SECTION 15, CENTRAL HANDLING OF SECURITIES
|
135617
|
03/20
|
AMEND SECTION 16 (d)
|
135615
|
03/20
|
AMEND SECTION 17. NOTICE AND CHANGE OF CONTROL
|
MNSCPT
|
|
CLAIMS EXPENSE ENDORSEMENT
|
MNSCPT
|
|
UNAUTHORIZED SIGNATURES
|
115903
|
10/13
|
PROTECTED INFORMATION EXCLUSION
|
135612
|
02/20
|
OMNIBUS NAMED INSURED
|
MNSCPT
|
|
AUTOMATIC FUND COVERAGE AND LIMIT INCREASE RIDER
|
127071
|
09/17
|
NEW YORK PUNITIVE DAMAGES AMENDATORY ENDORSEMENT
|
78859
|
10/01
|
FORMS INDEX ENDORSEMENT
|
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 039
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