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ICAP Bond (5-98)
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Form 17-02-1421 (Ed. 5-98)
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Page 11 of 19
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Conditions And
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Limitations
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General Exclusions -
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h.
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loss resulting from dishonest acts by any member of the Board of Directors
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Applicable to All Insuring
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or Board of Trustees of the ASSURED who is not an
Employee
, acting
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Clauses
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alone or in collusion with others;
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(continued)
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i.
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loss, or that part of any loss, resulting solely from any violation by the
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ASSURED or by any
Employee
:
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(1
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of any law regulating:
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a.
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the issuance, purchase or sale of securities,
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b.
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securities transactions on security or commodity exchanges or
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the over the counter market,
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c.
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investment companies,
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d.
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investment advisors, or
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(2
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of any rule or regulation made pursuant to any such law; or
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j.
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loss of confidential information, material or data;
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k.
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loss resulting from voice requests or instructions received over the
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telephone, provided however, this Section 2.k. shall not apply to INSURING
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CLAUSE 7. or 9.
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Specific Exclusions -
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3
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.
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This Bond does not directly or indirectly cover:
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Applicable To All Insuring
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a.
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loss caused by an
Employee
,
provided, however, this Section 3.a. shall not
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Clauses Except Insuring
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apply to loss covered under INSURING CLAUSE 2. or 3. which results
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Clause 1.
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directly from misplacement, mysterious unexplainable disappearance, or
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damage or destruction of
Property
;
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b.
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loss through the surrender of property away from premises of the ASSURED
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as a result of a threat:
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(1
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to do bodily harm to any natural person, except loss of
Property
in
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transit in the custody of any person acting as messenger of the
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ASSURED, provided that when such transit was initiated there was no
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knowledge by the ASSURED of any such threat, and provided further
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that this Section 3.b. shall not apply to INSURING CLAUSE 7., or
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(2
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to do damage to the premises or
Property
of the ASSURED;
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c.
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loss resulting from payments made or withdrawals from any account
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involving erroneous credits to such account;
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d.
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loss involving
Items of Deposit
which are not finally paid for any reason
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provided however, that this Section 3.d. shall not apply to INSURING
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CLAUSE 10.;
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e.
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loss of property while in the mail;
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ICAP Bond (5-98)
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Form 17-02-1421 (Ed. 5-98)
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Page 12 of 19
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Conditions And
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Limitations
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Specific Exclusions -
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f.
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loss resulting from the failure for any reason of a financial or depository
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Applicable To All Insuring
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institution, its receiver or other liquidator to pay or deliver funds or other
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Clauses Except Insuring
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Property
to the ASSURED provided further that this Section 3.f. shall
not
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Clause 1.
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apply to loss of
Property
resulting directly from robbery, burglary,
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(continued)
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misplacement, mysterious unexplainable disappearance, damage,
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destruction or removal from the possession, custody or control of the
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ASSURED.
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g.
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loss of
Property
while in the custody of a
Transportation Company
,
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provided however, that this Section 3.g. shall not apply to INSURING
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CLAUSE 3.;
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h.
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loss resulting from entries or changes made by a natural person with
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authorized access to a
Computer System
who acts in good faith on
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instructions, unless such instructions are given to that person by a software
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contractor or its partner, officer, or employee authorized by the ASSURED to
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design, develop, prepare, supply, service, write or implement programs for
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the ASSURED's
Computer System
; or
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i.
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loss resulting directly or indirectly from the input of data into a
Computer
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System
terminal, either on the premises of the customer of the
ASSURED
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or under the control of such a customer, by a customer or other person who
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had authorized access to the customer's authentication mechanism.
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Specific Exclusions -
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4
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.
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This bond does not directly or indirectly cover:
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Applicable To All Insuring
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a.
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loss resulting from the complete or partial non-payment of or default on any
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Clauses Except Insuring
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loan whether such loan was procured in good faith or through trick, artifice,
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Clauses 1., 4., And 5.
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fraud or false pretenses; provided, however, this Section 4.a. shall not apply
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to INSURING CLAUSE 8.;
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b.
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loss resulting from forgery or any alteration;
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c.
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loss involving a counterfeit provided, however, this Section 4.c. shall not
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apply to INSURING CLAUSE 5. or 6.
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Limit Of Liability/Non-
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5
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.
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At all times prior to termination of this Bond, this Bond shall continue in force for
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Reduction And Non-
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the limit stated in the applicable sections of ITEM 2. of the DECLARATIONS,
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Accumulation Of Liability
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notwithstanding any previous loss for which the COMPANY may have paid or be
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liable to pay under this Bond provided, however, that the liability of the COMPANY
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under this Bond with respect to all loss resulting from:
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a.
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any one act of burglary, robbery or hold-up, or attempt thereat, in which no
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Employee
is concerned or implicated, or
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b.
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any one unintentional or negligent act on the part of any one person
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resulting in damage to or destruction or misplacement of
Property
, or
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c.
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all acts, other than those specified in a. above, of any one person, or
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ICAP Bond (5-98)
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Form 17-02-1421 (Ed. 5-98)
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Page 13 of 19
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Conditions And
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Limitations
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Limit Of Liability/Non-
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d.
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any one casualty or event other than those specified in a., b., or c. above,
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Reduction And Non-
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shall be deemed to be one loss and shall be limited to the applicable LIMIT OF
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Accumulation Of Liability
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LIABILITY stated in ITEM 2. of the DECLARATIONS of this Bond irrespective of
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(continued)
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the total amount of such loss or losses and shall not be cumulative in amounts
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from year to year or from period to period.
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All acts, as specified in c. above, of any one person which
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i.
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directly or indirectly aid in any way wrongful acts of any other person or
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persons, or
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ii.
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permit the continuation of wrongful acts of any other person or persons
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whether such acts are committed with or without the knowledge of the wrongful
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acts of the person so aided, and whether such acts are committed with or without
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the intent to aid such other person, shall be deemed to be one loss with the
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wrongful acts of all persons so aided.
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Discovery
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6
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.
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This Bond applies only to loss first discovered by an officer of the ASSURED
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during the BOND PERIOD. Discovery occurs at the earlier of an officer of the
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ASSURED being aware of:
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a.
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facts which may subsequently result in a loss of a type covered by this Bond,
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or
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b.
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an actual or potential claim in which it is alleged that the ASSURED is liable
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to a third party,
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regardless of when the act or acts causing or contributing to such loss occurred,
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even though the amount of loss does not exceed the applicable DEDUCTIBLE
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AMOUNT, or the exact amount or details of loss may not then be known.
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Notice To Company -
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7
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a.
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The ASSURED shall give the COMPANY notice thereof at the earliest
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Proof - Legal Proceedings
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practicable moment, not to exceed sixty (60) days after discovery of loss, in
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Against Company
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an amount that is in excess of 50% of the applicable DEDUCTIBLE
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AMOUNT, as stated in ITEM 2. of the DECLARATIONS.
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b.
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The ASSURED shall furnish to the COMPANY proof of loss, duly sworn to,
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with full particulars within six (6) months after such discovery.
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c.
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Securities listed in a proof of loss shall be identified by certificate or bond
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numbers, if issued with them.
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d.
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Legal proceedings for the recovery of any loss under this Bond shall not be
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brought prior to the expiration of sixty (60) days after the proof of loss is filed
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with the COMPANY or after the expiration of twenty-four (24) months from
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the discovery of such loss.
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e.
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This Bond affords coverage only in favor of the ASSURED. No claim, suit,
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action or legal proceedings shall be brought under this Bond by anyone
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other than the ASSURED.
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|
ICAP Bond (5-98)
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Form 17-02-1421 (Ed. 5-98)
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Page 14 of 19
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Conditions And
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Limitations
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Notice To Company -
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f.
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Proof of loss involving
Voice Initiated Funds Transfer Instruction
shall
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Proof - Legal Proceedings
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include electronic recordings of such instructions.
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Against Company
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(continued)
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Deductible Amount
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8
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The COMPANY shall not be liable under any INSURING CLAUSES of this Bond
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on account of loss unless the amount of such loss, after deducting the net amount
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of all reimbursement and/or recovery obtained or made by the ASSURED, other
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than from any Bond or policy of insurance issued by an insurance company and
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covering such loss, or by the COMPANY on account thereof prior to payment by
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the COMPANY of such loss, shall exceed the DEDUCTIBLE AMOUNT set forth in
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ITEM 3. of the DECLARATIONS, and then for such excess only, but in no event
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for more than the applicable LIMITS OF LIABILITY stated in ITEM 2. of the
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DECLARATIONS.
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There shall be no deductible applicable to any loss under INSURING CLAUSE 1.
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sustained by any
Investment Company
.
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Valuation
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9
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.
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BOOKS OF ACCOUNT OR OTHER RECORDS
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The value of any loss of
Property
consisting of books of account or other records
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used by the ASSURED in the conduct of its business shall be the amount paid by
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the ASSURED for blank books, blank pages, or other materials which replace the
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lost books of account or other records, plus the cost of labor paid by the
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ASSURED for the actual transcription or copying of data to reproduce such books
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of account or other records.
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The value of any loss of
Property
other than books of account or other records
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used by the ASSURED in the conduct of its business, for which a claim is made
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shall be determined by the average market value of such
Property
on the
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business day immediately preceding discovery of such loss provided, however,
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that the value of any
Property
replaced by the ASSURED with the consent of the
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COMPANY and prior to the settlement of any claim for such
Property
shall be the
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actual market value at the time of replacement.
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In the case of a loss of interim certificates, warrants, rights or other securities, the
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production of which is necessary to the exercise of subscription, conversion,
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redemption or deposit privileges, the value of them shall be the market value of
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such privileges immediately preceding their expiration if said loss is not discovered
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until after their expiration. If no market price is quoted for such
Property
or for
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such privileges, the value shall be fixed by agreement between the parties.
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OTHER PROPERTY
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The value of any loss of
Property
, other than as stated above, shall be the actual
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cash value or the cost of repairing or replacing such
Property
with
Property
of
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like quality and value, whichever is less.
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ICAP Bond (5-98)
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Form 17-02-1421 (Ed. 5-98)
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Page 15 of 19
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Conditions And
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Limitations
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(continued)
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Securities Settlement
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10
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In the event of a loss of securities covered under this Bond, the COMPANY may,
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at its sole discretion, purchase replacement securities, tender the value of the
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securities in money, or issue its indemnity to effect replacement securities.
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The indemnity required from the ASSURED under the terms of this Section
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against all loss, cost or expense arising from the replacement of securities by the
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COMPANY'S indemnity shall be:
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a.
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for securities having a value less than or equal to the applicable
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DEDUCTIBLE AMOUNT - one hundred (100%) percent;
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b.
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for securities having a value in excess of the DEDUCTIBLE AMOUNT but
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within the applicable LIMIT OF LIABILITY - the percentage that the
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DEDUCTIBLE AMOUNT bears to the value of the securities;
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c.
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for securities having a value greater than the applicable LIMIT OF LIABILITY
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- the percentage that the DEDUCTIBLE AMOUNT and portion in excess of
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the applicable LIMIT OF LIABILITY bears to the value of the securities.
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The value referred to in Section 10.a., b., and c. is the value in accordance with
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Section 9, VALUATION, regardless of the value of such securities at the time the
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loss under the COMPANY'S indemnity is sustained.
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The COMPANY is not required to issue its indemnity for any portion of a loss of
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securities which is not covered by this Bond; however, the COMPANY may do so
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as a courtesy to the ASSURED and at its sole discretion.
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The ASSURED shall pay the proportion of the Company's premium charge for the
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Company's indemnity as set forth in Section 10.a., b., and c. No portion of the
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LIMIT OF LIABILITY shall be used as payment of premium for any indemnity
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purchased by the ASSURED to obtain replacement securities.
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Subrogation - Assignment -
11.
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In the event of a payment under this Bond, the COMPANY shall be subrogated to
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Recovery
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all of the ASSURED'S rights of recovery against any person or entity to the extent
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of such payment. On request, the ASSURED shall deliver to the COMPANY an
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assignment of the ASSURED'S rights, title and interest and causes of action
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against any person or entity to the extent of such payment.
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Recoveries, whether effected by the COMPANY or by the ASSURED, shall be
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applied net of the expense of such recovery in the following order:
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a.
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first, to the satisfaction of the ASSURED'S loss which would otherwise have
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been paid but for the fact that it is in excess of the applicable LIMIT OF
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LIABILITY,
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b.
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second, to the COMPANY in satisfaction of amounts paid in settlement of
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the ASSURED'S claim,
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c.
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third, to the ASSURED in satisfaction of the applicable DEDUCTIBLE
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AMOUNT, and
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ICAP Bond (5-98)
|
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Form 17-02-1421 (Ed. 5-98)
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Page 16 of 19
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Conditions And
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Limitations
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Subrogation - Assignment -
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d.
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fourth, to the ASSURED in satisfaction of any loss suffered by the
|
Recovery
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ASSURED which was not covered under this Bond.
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(continued)
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Recovery from reinsurance or indemnity of the COMPANY shall not be deemed a
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recovery under this section.
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Cooperation Of Assured
|
12
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.
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At the COMPANY'S request and at reasonable times and places designated by
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the COMPANY, the ASSURED shall:
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a.
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submit to examination by the COMPANY and subscribe to the same under
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oath,
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b.
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produce for the COMPANY'S examination all pertinent records, and
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c.
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cooperate with the COMPANY in all matters pertaining to the loss.
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The ASSURED shall execute all papers and render assistance to secure to the
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COMPANY the rights and causes of action provided for under this Bond. The
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ASSURED shall do nothing after loss to prejudice such rights or causes of action.
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Termination
|
13
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.
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If the Bond is for a sole ASSURED, it shall not be terminated unless written notice
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shall have been given by the acting party to the affected party and to the
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Securities and Exchange Commission, Washington, D.C., not less than sixty (60)
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days prior to the effective date of such termination.
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If the Bond is for a joint ASSURED, it shall not be terminated unless written notice
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shall have been given by the acting party to the affected party, and by the
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COMPANY to all ASSURED
Investment Companies
and to the Securities and
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Exchange Commission, Washington, D.C., not less than sixty (60) days prior to
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the effective date of such termination.
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This Bond will terminate as to any one ASSURED, other than an
Investment
|
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Company
:
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a.
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immediately on the taking over of such ASSURED by a receiver or other
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liquidator or by State or Federal officials, or
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b.
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immediately on the filing of a petition under any State or Federal statute
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relative to bankruptcy or reorganization of the ASSURED, or assignment for
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the benefit of creditors of the ASSURED, or
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c.
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immediately upon such ASSURED ceasing to exist, whether through merger
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into another entity, disposition of all of its assets or otherwise.
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The COMPANY shall refund the unearned premium computed at short rates in
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accordance with the standard short rate cancellation tables if terminated by the
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ASSURED or pro rata if terminated for any other reason.
|
|
|
ICAP Bond (5-98)
|
|
Form 17-02-1421 (Ed. 5-98)
|
Page 17 of 19
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Conditions And
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Limitations
|
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Termination
|
|
|
If any partner, director, trustee, or officer or supervisory employee of an
|
(continued)
|
|
|
ASSURED not acting in collusion with an
Employee
learns of any dishonest act
|
|
|
|
committed by such
Employee
at any time, whether in the employment of the
|
|
|
|
ASSURED or otherwise, whether or not such act is of the type covered under this
|
|
|
|
Bond, and whether against the ASSURED or any other person or entity, the
|
|
|
|
ASSURED:
|
|
|
|
|
a.
|
shall immediately remove such
Employee
from a position that would enable
|
|
|
|
|
such
Employee
to cause the ASSURED to
suffer a loss covered by this
|
|
|
|
|
Bond; and
|
|
|
|
|
b.
|
within forty-eight (48) hours of learning that an
Employee
has committed
|
|
|
|
|
any dishonest act, shall notify the COMPANY, of such action and provide full
|
particulars of such dishonest act.
|
|
|
|
|
The COMPANY may terminate coverage as respects any
Employee
sixty (60)
|
|
|
|
days after written notice is received by each ASSURED
Investment
Company
|
|
|
|
and the Securities and Exchange Commission, Washington, D.C. of its desire to
|
|
|
|
terminate this Bond as to such
Employee
.
|
|
|
Other Insurance
|
14
|
.
|
Coverage under this Bond shall apply only as excess over any valid and collectible
|
|
|
|
insurance, indemnity or suretyship obtained by or on behalf of:
|
|
|
|
|
a.
|
the ASSURED,
|
|
|
|
|
b.
|
a
Transportation Company
, or
|
|
|
|
|
c.
|
another entity on whose premises the loss occurred or which employed the
|
|
|
|
|
person causing the loss or engaged the messenger conveying the
Property
|
|
|
|
|
involved.
|
|
|
Conformity
|
15
|
.
|
If any limitation within this Bond is prohibited by any law controlling this Bond's
|
|
|
|
construction, such limitation shall be deemed to be amended so as to equal the
|
|
|
|
minimum period of limitation provided by such law.
|
|
|
Change or Modification
|
16
|
.
|
This Bond or any instrument amending or affecting this Bond may not be changed
|
|
|
|
or modified orally. No change in or modification of this Bond shall be effective
|
|
|
|
except when made by written endorsement to this Bond signed by an authorized
|
|
|
|
representative of the COMPANY.
|
|
|
|
|
If this Bond is for a sole ASSURED, no change or modification which would
|
|
|
|
adversely affect the rights of the ASSURED shall be effective prior to sixty (60)
|
|
|
|
days after written notice has been furnished to the Securities and Exchange
|
|
|
|
Commission, Washington, D.C., by the acting party.
|
|
|
ICAP Bond (5-98)
|
|
Form 17-02-1421 (Ed. 5-98)
|
Page 18 of 19
|
|
|
Conditions And
|
|
Limitations
|
|
|
|
Change or Modification
|
If this Bond is for a joint ASSURED, no charge or modification which would
|
(continued)
|
adversely affect the rights of the ASSURED shall be effective prior to sixty (60)
|
|
days after written notice has been furnished to all insured
Investment Companies
|
|
and to the Securities and Exchange Commission, Washington, D.C., by the
|
|
COMPANY.
|
|
|
ICAP Bond (5-98)
|
|
Form 17-02-1421 (Ed. 5-98)
|
Page 19 of 19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FEDERAL INSURANCE COMPANY
|
|
|
|
|
|
|
|
Endorsement No.:
|
1
|
|
|
|
|
|
|
|
Bond Number:
|
70437045
|
|
|
NAME OF ASSURED: RIVERNORTH FUNDS
|
|
STOP PAYMENT ORDER OR REFUSAL TO PAY CHECK ENDORSEMENT
|
It is agreed that this Bond is amended as follows:
|
|
1
|
.
|
|
By adding the following INSURING CLAUSE:
|
|
|
|
“
|
12
|
.
|
Stop Payment Order or Refusal to Pay Check
|
|
|
|
|
|
|
Loss resulting directly from the ASSURED being legally liable to pay compensatory damages
|
|
|
|
|
|
for:
|
|
|
|
|
|
|
|
|
a.
|
|
complying or failing to comply with notice from any customer of the ASSURED or any
|
|
|
|
|
|
|
|
authorized representative of such customer, to stop payment on any check or draft made or
|
|
|
|
|
|
|
|
drawn upon or against the ASSURED by such customer or by any authorized
|
|
|
|
|
|
|
|
representative of such customer, or
|
|
|
|
|
|
|
b.
|
|
refusing to pay any check or draft made or drawn upon or against the ASSURED by any
|
|
|
|
|
|
|
|
customer of the ASSURED or by any authorized representative of such customer.”
|
2
|
.
|
|
By adding the following Specific Exclusion:
|
|
|
|
|
“Section 4.A. Specific Exclusions – Applicable to INSURING CLAUSE 12
|
|
|
|
|
This Bond does not directly or indirectly cover:
|
|
|
|
|
a.
|
|
liability assumed by the ASSURED by agreement under any contract, unless such liability would
|
|
|
|
|
|
have attached to the ASSURED even in the absence of such agreement,
|
|
|
|
b.
|
|
loss arising out of:
|
|
|
|
|
|
|
(1
|
)
|
libel, slander, wrongful entry, eviction, defamation, false arrest, false imprisonment,
|
|
|
|
|
|
|
|
malicious prosecution, assault or battery,
|
|
|
|
|
|
|
(2
|
)
|
sickness, disease, physical bodily harm, mental or emotional distress or anguish, or death of
|
|
|
|
|
|
|
|
any person, or
|
|
|
|
|
|
|
(3
|
)
|
discrimination.”
|
|
This Endorsement applies to loss discovered after 12:01 a.m. on May 31, 2013.
|
|
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
|
Date: May 28, 2013
ICAP Bond
Form
17-02-2365 (Ed. 10-00)
|
|
|
|
|
|
|
|
|
|
|
|
FEDERAL INSURANCE COMPANY
|
|
|
|
|
|
|
Endorsement No.: 2
|
|
|
|
|
|
|
Bond Number:
|
70437045
|
|
|
|
NAME OF ASSURED:
|
RIVERNORTH FUNDS
|
|
|
TELEFACSIMILE INSTRUCTION FRAUD ENDORSEMENT
|
|
It is agreed that this Bond is amended as follows:
|
|
|
1
|
.
|
By adding the following INSURING CLAUSE:
|
|
|
|
|
13
|
.
|
Telefacsimile Instruction
|
|
|
|
|
|
|
Loss resulting directly from the ASSURED having transferred, paid or delivered any
|
|
|
|
|
funds or other
Property
or established
any credit, debited any account or given any
|
|
|
|
|
value on the faith of any fraudulent instructions sent by a
Customer
, financial institution
|
|
|
|
|
or another office of the ASSURED by
Telefacsimile
directly to the ASSURED authorizing
|
|
|
|
|
or acknowledging the transfer, payment or delivery of funds or
Property
or the
|
|
|
|
|
establishment of a credit or the debiting of an account or the giving of value by the
|
|
|
|
|
ASSURED where such
Telefacsimile
instructions:
|
|
|
|
|
|
|
a.
|
bear a valid test key exchanged between the ASSURED and a
Customer
or
|
|
|
|
|
|
another financial institution with authority to use such test key for
Telefacsimile
|
|
|
|
|
|
instructions in the ordinary course of business, but which test key has been
|
|
|
|
|
|
wrongfully obtained by a person who was not authorized to initiate, make,
|
|
|
|
|
|
validate or authenticate a test key arrangement, and
|
|
|
|
|
|
b.
|
fraudulently purport to have been sent by such
Customer
or financial institution
|
|
|
|
|
|
when such
Telefacsimile
instructions
were transmitted without the knowledge
|
|
|
|
|
|
or consent of such
Customer
or
financial institution by a person other than such
|
|
|
|
|
|
Customer
or financial institution and which bear a
Forgery
of a signature,
|
|
|
|
|
|
provided that the
Telefacsimile
instruction was verified by a direct call back to
|
|
|
|
|
|
an employee of the financial institution, or a person thought by the ASSURED to
|
|
|
|
|
|
be the
Customer
, or an employee of another financial institution.
|
|
2
|
.
|
By deleting from Section 1., Definitions, the definition of
Customer
in its entirety, and substituting
|
|
|
the following:
|
|
|
|
|
|
d.
|
|
Customer
means an individual, corporate, partnership, trust customer, shareholder
or
|
|
|
|
|
subscriber of an Investment Company which has a written agreement with the ASSURED
|
|
|
|
|
for
Voice Initiated Funds Transfer Instruction
or
Telefacsimile
Instruction.
|
|
|
ICAP Bond
|
|
Form 17-02-2367 (Rev. 10-03)
|
Page 1
|
|
|
|
|
3
|
.
|
By adding to Section 1., Definitions, the following:
|
|
|
|
r.
|
Telefacsimile
means a system of transmitting written documents by electronic
signals
|
|
|
|
over telephone lines to equipment maintained by the ASSURED for the purpose of
|
|
|
|
reproducing a copy of said document.
Telefacsimile
does not mean electronic
|
|
|
|
communication sent by Telex or similar means of communication, or through an
|
electronic communication system or through an automated clearing house.
|
|
4
|
.
|
By adding to Section 3., Specific Exclusions Applicable to All Insuring Clauses Except Insuring
|
|
|
Clause 1. the following:
|
|
|
|
j.
|
loss resulting directly or indirectly from
Telefacsimile
instructions provided, however, this
|
|
|
|
exclusion shall not apply to this INSURING CLAUSE.
|
|
|
|
|
This Endorsement applies to loss discovered after 12:01 a.m. on May 31, 2013.
|
|
|
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
|
Date: May 28, 2013
|
|
ICAP Bond
|
|
Form 17-02-2367 (Rev. 10-03)
|
Page 2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FEDERAL INSURANCE COMPANY
|
|
|
|
|
|
|
Endorsement No.: 3
|
|
|
|
|
|
|
Bond Number:
|
70437045
|
|
|
NAME OF ASSURED: RIVERNORTH FUNDS
|
|
UNAUTHORIZED SIGNATURE ENDORSEMENT
|
It is agreed that this Bond is amended as follows:
|
|
1
|
.
|
By adding the following INSURING CLAUSE:
|
|
|
|
14
|
.
|
Unauthorized Signature
|
|
|
|
|
|
Loss resulting directly from the ASSURED having accepted, paid or cashed any check or
|
|
|
|
|
Withdrawal Order
made or drawn on or against the account of the ASSURED’S customer
which
|
|
|
|
|
bears the signature or endorsement of one other than a person whose name and signature is on
|
|
|
|
|
file with the ASSURED as a signatory on such account.
|
|
|
|
|
|
It shall be a condition precedent to the ASSURED'S right of recovery under this INSURING
|
|
|
|
|
CLAUSE that the ASSURED shall have on file signatures of all the persons who are signatories
|
|
|
|
|
on such account.
|
|
2
|
.
|
By adding to Section 1., Definitions, the following:
|
|
|
|
s.
|
|
Instruction
means a written order to the issuer of an
Uncertificated Security
requesting that the
|
|
|
|
|
transfer, pledge or release from pledge of the specified
Uncertificated Security
be registered.
|
|
|
t.
|
|
Uncertificated 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:
|
|
|
|
|
|
(1
|
)
|
not represented by an instrument and the transfer of which is registered on books
|
|
|
|
|
|
|
maintained for that purpose by or on behalf of the issuer, and
|
|
|
|
|
(2
|
)
|
of a type commonly dealt in on securities exchanges or markets, and
|
|
|
|
|
(3
|
)
|
either one of a class or series or by its terms divisible into a class or series of shares,
|
|
|
|
|
|
|
participations, interests or obligations.
|
|
|
|
ICAP Bond
|
|
Form 17-02-5602 (Ed. 10-03)
|
Page 1
|
|
|
u.
|
Withdrawal Order
means a non-negotiable instrument, other than an
Instruction
, signed by a
|
|
customer of the ASSURED authorizing the ASSURED to debit the customer’s account in the
|
|
amount of funds stated therein.
|
|
|
|
|
This Endorsement applies to loss discovered after 12:01 a.m. on May 31, 2013.
|
|
|
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
|
Date: May 28, 2013
|
|
ICAP Bond
|
|
Form 17-02-5602 (Ed. 10-03)
|
Page 2
|
|
|
|
|
|
ENDORSEMENT/RIDER
|
Effective date of
|
|
|
this endorsement/rider: May 31, 2013
|
FEDERAL INSURANCE COMPANY
|
|
Endorsement/Rider No.
|
4
|
|
To be attached to and
|
|
|
form a part of Bond No.
|
70437045
|
|
Issued to: RIVERNORTH FUNDS
|
|
|
COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS
|
It is agreed that this insurance does not apply to the extent that trade or economic sanctions or other
|
similar laws or regulations prohibit the coverage provided by this insurance.
|
|
|
|
|
The title and any headings in this endorsement/rider are solely for convenience and form no part of the
|
terms and conditions of coverage.
|
|
|
All other terms, conditions and limitations of this Bond shall remain unchanged.
|
|
14-02-9228 (02/2010)
Page 1
|
|
|
|
|
|
|
|
|
ENDORSEMENT/RIDER
|
Effective date of
|
|
|
this endorsement/rider: May 31, 2013
|
FEDERAL INSURANCE COMPANY
|
|
|
|
Endorsement/Rider No.
|
5
|
|
|
|
To be attached to and
|
|
|
|
|
form a part of Bond No.
|
70437045
|
|
|
Issued to: RIVERNORTH FUNDS
|
|
|
|
|
DELETING VALUATION-OTHER PROPERTY AND AMENDING CHANGE OR MODIFICATION
|
ENDORSEMENT
|
In consideration of the premium charged, it is agreed that this Bond is amended as follows:
|
1
|
.
|
The paragraph titled Other Property in Section 9, Valuation, is deleted in its entirety.
|
2
|
.
|
The third paragraph in Section 16, Change or Modification, is deleted in its entirety and replaced
|
|
|
with the following:
|
|
|
|
|
If this Bond is for a joint ASSURED, no change or modification which would adversely affect the
|
|
|
rights of the ASSURED shall be effective prior to sixty (60) days after written notice has been
|
|
|
furnished to all insured
Investment Companies
and the Securities and Exchange Commission,
|
|
|
Washington, D.C., by the COMPANY.
|
|
|
|
|
The title and any headings in this endorsement/rider are solely for convenience and form no part of the
|
terms and conditions of coverage.
|
|
|
All other terms, conditions and limitations of this Bond shall remain unchanged.
|
|
17-02-2437 (12/2006) rev.
Page 1
|
|
|
|
|
|
|
ENDORSEMENT/RIDER
|
Effective date of
|
|
|
this endorsement/rider: May 31, 2013
|
FEDERAL INSURANCE COMPANY
|
|
|
Endorsement/Rider No.
|
6
|
|
|
To be attached to and
|
|
|
|
form a part of Bond No.
|
70437045
|
Issued to: RIVERNORTH FUNDS
|
|
|
|
|
AUTOMATIC INCREASE IN LIMITS ENDORSEMENT
|
In consideration of the premium charged, it is agreed that GENERAL AGREEMENTS, Section C. Additional
|
Offices Or Employees-Consolidation, Merger Or Purchase Or Acquisition Of Assets Or Liabilities-Notice To
|
Company, is amended by adding the following subsection:
|
|
Automatic Increase in Limits for Investment Companies
|
|
If an increase in bonding limits is required pursuant to rule 17g-1 of the Investment Company Act of 1940
|
(“the Act”), due to:
|
|
|
(i)
|
the creation of a new
Investment
Company
, other than by consolidation or merger with, or purchase or
|
|
acquisition of assets or liabilities of, another institution; or
|
|
(ii)
|
an increase in asset size of current
Investment Companies
covered under this Bond,
|
then the minimum required increase in limits shall take place automatically without payment of additional
|
premium for the remainder of the BOND PERIOD.
|
|
|
|
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms
|
and conditions of coverage.
|
|
|
|
All other terms, conditions and limitations of this Bond shall remain unchanged.
|
14-02-14098 (04/2008)
Page 1
|
|
FEDERAL INSURANCE COMPANY
|
Endorsement No:
|
7
|
Bond Number:
|
70437045
|
NAME OF ASSURED: RIVERNORTH FUNDS
|
|
|
NAME OF ASSURED ENDORSEMENT
|
|
It is agreed that the NAME OF ASSURED in the DECLARATIONS is amended to read as follows:
|
|
RIVERNORTH FUNDS
|
|
RIVERNORTH CORE OPPORTUNITY FUND
|
|
RIVERNORTH DOUBLELINE STRATEGIC INCOME FUND
|
|
RIVERNORTH/MANNING & NAPIER DIVIDENED INCOME FUND
|
|
RIVERNORTH DYNAMIC BUY-WRITE FUND
|
|
RIVERNORTH/OAKTREE HIGH INCOME FUND
|
|
|
|
|
|
This Endorsement applies to loss discovered after 12:01 a.m. on May 31, 2013.
|
|
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
|
Date: May 28, 2013
|
|
ICAP Bond
|
|
Form 17-02-0949 (Rev. 1-97)
|
Page 1
|
R
ESOLUTIONS
ADOPTED
BY
THE
B
OARD
OF
T
RUSTEES
OF
R
IVER
N
ORTH
F
UNDS
on May 14, 2013
Approval of Insurance Coverage and Premium
WHEREAS
,
the Board of Trustees of the RiverNorth Funds (the Trust), including the Independent
Trustees, have reviewed the proposed amount, type, form, and coverage of the Fidelity Bond (the Bond)
WHEREAS
, the amount of the coverage under such Bond satisfies all requirements, including the applicable coverage amounts under Rule 17g-1 of the Investment Company Act of 1940, as amended, (the
1940 Act) for each series of the Trust
NOW THEREFORE, BE IT RESOLVED,
that the Trust be
named as an insured under the Bond having an aggregate coverage of $1,250,000 issued by Chubb against larceny, embezzlement, and such other types of losses as are included in a standard fidelity bond covering the officers and the other employees of
the Trust from time to time, and contains such provisions as may be required by the rules promulgated under the 1940 Act.
RESOLVED,
that the premium of $3,500, on the Bond is fair and reasonable and is approved by the Board of Trustees, including a majority of the Independent Trustees, taking all relevant factor into
consideration, including but not limited to, the amount of the Bond and the amount of the premium for the Bond;
FURTHER RESOLVED,
that the appropriate officers on behalf of the Trust are hereby authorized and directed to
delivery to the SEC the Bond with such modifications as the officers, upon the advice of counsel, may deem appropriate or as may be required to conform with the requirements of any applicable statute, regulation or regulatory body; and
FINALLY RESOLVED,
that the proper officers of the Trust be, and each of them hereby is, authorized to make any and
all payments, and to do any and all other acts, in the name of the Trust and on their behalf, as they, or any of them, may determine to be necessary or desirable and proper with the advice of counsel in connection with or in furtherance of the
foregoing resolutions.
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