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Share Name | Share Symbol | Market | Type |
---|---|---|---|
MFS Intermediate High Income Fund | NYSE:CIF | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.0053 | 0.30% | 1.79 | 1.79 | 1.78 | 1.79 | 50,089 | 19:41:20 |
1. |
A copy of the resolution of the Board of Trustees approving the form and amount of the bonds:
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a. |
Certificate of Assistant Secretary for MFS Series Trust I, MFS Series Trust II, MFS Series Trust III, MFS Series Trust IV, MFS Series Trust V, MFS Series Trust VI, MFS Series Trust VII, MFS Series Trust VIII, MFS Series Trust IX, MFS
Series Trust X, MFS Series Trust XI, MFS Series Trust XII, MFS Series Trust XIII, MFS Series Trust XIV, MFS Series Trust XV, MFS Series Trust XVI, MFS Municipal Series Trust, MFS Variable Insurance Trust, MFS Variable Insurance Trust II, MFS
Variable Insurance Trust III, MFS Institutional Trust, Massachusetts Investors Trust, Massachusetts Investors Growth Stock Fund, MFS Charter Income Trust, MFS Government Markets Income Trust, MFS High Income Municipal Trust, MFS High Yield
Municipal Trust, MFS Intermediate High Income Fund, MFS Intermediate Income Trust, MFS Investment Grade Municipal Trust, MFS Multimarket Income Trust, MFS Municipal Income Trust and MFS Special Value Trust, dated July 19, 2021;
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2. |
Fidelity Bond Claim Agreement, dated November 1, 1993, as amended and restated June 12, 2002, as amended and restated June 12, 2002, as amended and restated March 1, 2008, (including Exhibit A, as of September 30, 2017), between the
investment company and all other parties to the joint insured bonds entered into pursuant to paragraph (f) of the Rule; and
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3. |
Copies of the executed bonds:
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Federal Insurance Company – Bond No. – 81391896 - Declarations
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 1
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 2
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 3
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 4
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 5
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 6
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 7
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 8
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 9
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 10
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 11
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 12
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 13
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 14
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 15
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 16
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 17
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 18
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 19
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 20
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 21
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 22
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 23
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 24
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 25
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 26
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Federal Insurance Company – Bond No.– 81391896 - Endorsement No. 27
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Important Notice to Policyholders
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Acronym
|
Trust / Fund Name
|
Fidelity Bond Coverage Required
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MFS SERIES TRUST I
|
2,500,000
|
|
EIF
|
MFS Value Fund
|
|
LVO
|
MFS Low Volatility Global Equity Fund
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LVU
|
MFS Low Volatility Equity Fund
|
|
MCF
|
MFS U.S. Government Cash Reserve Fund
|
|
NDF
|
MFS New Discovery Fund
|
|
RGI
|
MFS Core Equity Fund
|
|
RIF
|
MFS Research International Fund
|
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SCT
|
MFS Technology Fund
|
|
MFS SERIES TRUST II
|
2,500,000
|
|
MEG
|
MFS Growth Fund
|
|
MFS SERIES TRUST III
|
2,500,000
|
|
HYO
|
MFS Global High Yield Fund
|
|
HYP
|
MFS High Yield Pooled Portfolio
|
|
MFH
|
MFS High Income Fund
|
|
MMH
|
MFS Municipal High Income Fund
|
|
MFS SERIES TRUST IV
|
2,500,000
|
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BRK
|
MFS Blended Research Emerging Markets Equity Fund
|
|
BRX
|
MFS Blended Research International Equity Fund
|
|
GND
|
MFS Global New Discovery Fund
|
|
MMM
|
MFS U.S. Government Money Market Fund
|
|
OTC
|
MFS Mid Cap Growth Fund
|
|
MFS SERIES TRUST V
|
2,500,000
|
|
MFR
|
MFS Research Fund
|
|
MIO
|
MFS International New Discovery Fund
|
|
MTR
|
MFS Total Return Fund
|
|
MFS SERIES TRUST VI
|
2,500,000
|
|
MMU
|
MFS Utilities Fund
|
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MWE
|
MFS Global Equity Fund
|
|
MWT
|
MFS Global Total Return Fund
|
|
MFS SERIES TRUST VII
|
750,000
|
|
EQI
|
MFS Equity Income Fund
|
|
EEM
|
MFS Emerging Markets Equity Research Fund
|
|
MFS SERIES TRUST VIII
|
1,250,000
|
|
MSI
|
MFS Income Fund
|
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WGF
|
MFS Global Growth Fund
|
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MFS SERIES TRUST IX
|
2,500,000
|
|
IAB
|
MFS Inflation-Adjusted Bond Fund
|
|
MFB
|
MFS Corporate Bond Fund
|
|
MLM
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MFS Limited Maturity Fund
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MML
|
MFS Municipal Limited Maturity Fund
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RBF
|
MFS Total Return Bond Fund
|
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MFS SERIES TRUST X
|
2,500,000
|
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AGG
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MFS Aggressive Growth Allocation Fund
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BMS
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MFS Blended Research Mid Cap Equity Fund
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BRS
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MFS Blended Research Small Cap Equity Fund
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BRU
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MFS Blended Research Value Equity Fund
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BRW
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MFS Blended Research Growth Equity Fund
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CON
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MFS Conservative Allocation Fund
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EMD
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MFS Emerging Markets Debt Fund
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EML
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MFS Emerging Markets Debt Local Currency Fund
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FEM
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MFS Emerging Markets Equity Fund
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FGF
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MFS International Growth Fund
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FGI
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MFS International Intrinsic Value Fund
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GLB
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MFS Global Opportunistic Bond Fund
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GRO
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MFS Growth Allocation Fund
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MDI
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MFS International Diversification Fund
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MGW
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MFS Managed Wealth Fund
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MKV
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MFS International Large Cap Value Fund
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MOD
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MFS Moderate Allocation Fund
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MFS SERIES TRUST XI
|
2,500,000
|
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MDV
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MFS Mid Cap Value Fund
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UNE
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MFS Blended Research Core Equity Fund
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MFS SERIES TRUST XII
|
2,500,000
|
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L25
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MFS Lifetime 2025 Fund
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L35
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MFS Lifetime 2035 Fund
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L45
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MFS Lifetime 2045 Fund
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L55
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MFS Lifetime 2055 Fund
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L65
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MFS Lifetime 2065 Fund
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LRT
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MFS Lifetime Income Fund
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ML2
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MFS Lifetime 2020 Fund
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ML3
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MFS Lifetime 2030 Fund
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ML4
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MFS Lifetime 2040 Fund
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ML5
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MFS Lifetime 2050 Fund
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ML6
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MFS Lifetime 2060 Fund
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MFS SERIES TRUST XIII
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2,500,000
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DIF
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MFS Diversified Income Fund
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GRE
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MFS Global Real Estate Fund
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MGS
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MFS Government Securities Fund
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NDV
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MFS New Discovery Value Fund
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MFS SERIES TRUST XIV
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2,500,000
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IMM
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MFS Institutional Money Market Portfolio
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MFS SERIES TRUST XV
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1,250,000
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CMS
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MFS Commodity Strategy Fund
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DTR
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MFS Global Alternative Strategy Fund
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MFS SERIES TRUST XVI
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400,000
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FPP
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MFS Prudent Investor Fund
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STAND-ALONE FUNDS
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2,500,000
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MIG
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Massachusetts Investors Growth Stock Fund
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MIT
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Massachusetts Investors Trust
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CLOSED-END FUNDS
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1,900,000
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CIH
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MFS Intermediate High Income Fund
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CMU
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MFS High Yield Municipal Trust
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CXE
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MFS High Income Municipal Trust
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CXH
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MFS Investment Grade Municipal Trust
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MCR
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MFS Charter Income Trust
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MFM
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MFS Municipal Income Trust
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MFV
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MFS Special Value Trust
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MGF
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MFS Government Markets Income Trust
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MIN
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MFS Intermediate Income Trust
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MMT
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MFS Multimarket Income Trust
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MFS MUNICIPAL SERIES TRUST
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2,500,000
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MAL
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MFS Alabama Municipal Bond Fund
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MAR
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MFS Arkansas Municipal Bond Fund
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MCA
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MFS California Municipal Bond Fund
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MGA
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MFS Georgia Municipal Bond Fund
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MIU
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MFS Municipal Intermediate Fund
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MMA
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MFS Massachusetts Municipal Bond Fund
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MMD
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MFS Maryland Municipal Bond Fund
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MMI
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MFS Municipal Income Fund
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MMP
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MFS Mississippi Municipal Bond Fund
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MNC
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MFS North Carolina Municipal Bond Fund
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MNY
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MFS New York Municipal Bond Fund
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MPA
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MFS Pennsylvania Municipal Bond Fund
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MSC
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MFS South Carolina Municipal Bond Fund
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MVA
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MFS Virginia Municipal Bond Fund
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MWV
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MFS West Virginia Municipal Bond Fund
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MFS INSTITUTIONAL TRUST
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2,500,000
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IIE
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MFS Institutional International Equity Fund
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MFS VARIABLE INSURANCE TRUST
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2,500,000
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VEG
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MFS Variable Insurance Trust - MFS Growth Series
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VFB
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MFS Variable Insurance Trust - MFS Total Return Bond Series
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VFR
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MFS Variable Insurance Trust - MFS Research Series
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VGE
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MFS Variable Insurance Trust - MFS Global Equity Series
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VGI
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MFS Variable Insurance Trust - MFS Investors Trust Series
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VLU
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MFS Variable Insurance Trust - MFS Value Series
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VMG
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MFS Variable Insurance Trust - MFS Mid Cap Growth Series
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VND
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MFS Variable Insurance Trust - MFS New Discovery Series
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VTR
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MFS Variable Insurance Trust - MFS Total Return Series
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VUF
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MFS Variable Insurance Trust - MFS Utilities Series
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MFS Variable Insurance Trust II:
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2,500,000
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BDS
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MFS VIT II - MFS Corporate Bond Portfolio
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CGS
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MFS VIT II - MFS Blended Research Core Equity Portfolio
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FCE
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MFS VIT II - MFS Emerging Markets Equity Portfolio
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FCG
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MFS VIT II - MFS International Intrinsic Value Portfolio
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FCI
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MFS VIT II - MFS International Growth Portfolio
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GSS
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MFS VIT II - MFS Government Securities Portfolio
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HYS
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MFS VIT II - MFS High Yield Portfolio
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MIS
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MFS VIT II - MFS Massachusetts Investors Growth Stock Portfolio
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MKS
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MFS VIT II - MFS U.S. Government Money Market Portfolio
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RES
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MFS VIT II - MFS Global Research Portfolio
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RGS
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MFS VIT II - MFS Core Equity Portfolio
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RSS
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MFS VIT II - MFS Research International Portfolio
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SIS
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MFS VIT II - MFS Income Portfolio
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TKS
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MFS VIT II - MFS Technology Portfolio
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WGO
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MFS VIT II - MFS Global Growth Portfolio
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WGS
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MFS VIT II - MFS Global Governments Portfolio
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WTS
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MFS VIT II - MFS Global Tactical Allocation Portfolio
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MFS Variable Insurance Trust III:
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2,300,000
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VCA
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MFS VIT III - MFS Conservative Allocation Portfolio
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VDV
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MFS VIT III - MFS New Discovery Value Portfolio
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VGA
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MFS VIT III - MFS Growth Allocation Portfolio
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VIA
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MFS VIT III - MFS Inflation-Adjusted Bond Portfolio
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VLT
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MFS VIT III - MFS Limited Maturity Portfolio
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VMA
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MFS VIT III - MFS Moderate Allocation Portfolio
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VMC
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MFS VIT III - MFS Mid Cap Value Portfolio
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VRE
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MFS VIT III - MFS Global Real Estate Portfolio
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VSC
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MFS VIT III - MFS Blended Research Small Cap Equity Portfolio
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MFS Series Trust I
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MFS Series Trust II
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MFS Series Trust III
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MFS Series Trust IV
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MFS Series Trust V
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MFS Series Trust VI
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MFS Series Trust VII
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MFS Series Trust VIII
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MFS Series Trust IX
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MFS Series Trust X
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MFS Series Trust XI
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MFS Series Trust XII
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MFS Series Trust XIII
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MFS Series Trust XIV
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MFS Series Trust XV
MFS Series Trust XVI
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MFS Municipal Series Trust
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MFS Variable Insurance Trust
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MFS Variable Insurance Trust II
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MFS Variable Insurance Trust III
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MFS Institutional Trust
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Massachusetts Investors Trust
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Massachusetts Investors Growth Stock Fund
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MFS Charter Income Trust
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MFS Government Markets Income Trust
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MFS High Income Municipal Trust
|
MFS High Yield Municipal Trust
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MFS Intermediate High Income Fund
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MFS Intermediate Income Trust
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MFS Investment Grade Municipal Trust
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MFS Multimarket Income Trust
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MFS Municipal Income Trust
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MFS Special Value Trust
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VOTED: |
That it is the finding of the Trustees that the fidelity bonds written by ICI Mutual Insurance Company (ICI Mutual), and Federal Insurance Company (Chubb), (collectively, the "Bond") in the aggregate amount of
$58 million (the “Coverage Amount”), on the terms and conditions presented at this meeting and covering, among others, Trustees, officers and employees of the Trust, in accordance with the requirements of Rule 17g-1 promulgated by the
Securities and Exchange Commission under Section 17(g) of the Investment Company Act of 1940, as amended, are reasonable in form and amount, after having given due consideration to, among other things, the value of the aggregate assets of
the Trust to which any person covered under the Bond may have access, the type and terms of the arrangements made for the custody and safekeeping of assets of the Trust, the nature of the Trust's securities, the number of other parties
named as insured parties under the Bond and the nature of the business activities of the other parties;
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VOTED: |
That after having given due consideration to, among other things, the number of other parties insured under the Bond, the nature of business activities of those other parties, the amount of the Bond, the amount
of the premium and the ratable allocation of the premium and service fee among all parties named as insureds, that the premium on the Bond and service fee be, and it hereby is, allocated among the insured parties in the proportion that the
higher of their minimum required or assigned coverage bears to the Coverage Amount;
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VOTED: |
That the officers of the Trust be, and each of them hereby is, authorized and directed to enter into an agreement, as required by paragraph (f) of Rule 17g-1 promulgated by the Securities and Exchange Commission
under the Investment Company Act of 1940, as amended, with the other named insureds under said Bond providing that in the event any
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recovery is received under the Bond as a result of a loss sustained by the Trust and also by one or more of the other named insureds, the Trust shall receive an equitable and proportionate share of the
recovery, but at least equal to the amount it would have received had it provided and maintained a single insured bond with the minimum coverage required by paragraph (d)(1) of Rule 17g-1 promulgated by the Securities and Exchange
Commission under the Investment Company Act of 1940, as amended;
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VOTED: |
That the Bond be, and it hereby is, approved on the terms presented at this meeting;
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VOTED: |
That the appropriate officers of the Trust be, and they hereby are, authorized and directed to prepare, execute, and file such amendments and supplements to the aforesaid agreement, and to take such other action
as may be necessary or appropriate in order to conform to the provisions of the Investment Company Act of 1940, as amended, and the rules and regulations thereunder; and
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VOTED: |
That the Secretary or any Assistant Secretary of the Trust shall file the Bond with the Securities and Exchange Commission and give notices required under paragraph (g) of Rule 17g-1 promulgated by the Securities
and Exchange Commission under the Investment Company Act of 1940, as amended.
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My commission expires: August 23, 2024
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A.
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All claims of Funds which have been duly proved and established under the Bonds shall be satisfied in full before satisfaction of any claims of MFS or other MFS
Parties, if any.
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B.
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If the claims of Funds which have been duly proved and established under the Bonds exceed the face amount of the Bonds, the insurance proceeds shall be applied to those
claims in the following manner:
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(i)
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first, the insurance proceeds shall be applied to the claim of each Fund up to its respective minimum fidelity bond requirement as determined pursuant to paragraph one
above with respect to the Funds; and:
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(ii)
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the remaining amount of insurance proceeds then shall be applied to the unsatisfied claims of the Funds in proportion to their respective minimum fidelity bond
requirements as determined pursuant to paragraph one above with respect to the Funds.
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C.
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If after giving effect to Paragraph A there remains a portion of the insurance under the Bonds available for the satisfaction of claims of MFS or other MFS Parties, if
any, which have been duly proved and established under the Bonds, such remainder shall be applied as MFS shall determine.
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MFS FUNDS BOARD PRODUCTS:
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MFS SERIES TRUST I
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MFS Core Equity Fund
|
MFS Low Volatility Global Equity Fund
|
MFS Low Volatility Equity Fund |
MFS New Discovery Fund
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MFS Research International Fund
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MFS Technology Fund
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MFS U.S. Government Cash Reserve Fund
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MFS Value Fund
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MFS SERIES TRUST II
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MFS Growth Fund
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MFS SERIES TRUST III
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MFS Global High Yield Fund
MFS High Income Fund
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MFS High Yield Pooled Portfolio
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MFS Municipal High Income Fund
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MFS SERIES TRUST IV
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MFS Blended Research Emerging Markets Equity Fund
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MFS Blended Research International Equity Fund
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MFS Global New Discovery Fund
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MFS Mid Cap Growth Fund
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MFS U.S. Government Money Market Fund
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MFS SERIES TRUST V
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MFS Research Fund
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MFS Total Return Fund
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MFS International New Discovery Fund
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MFS SERIES TRUST VI
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MFS Global Equity Fund
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MFS Global Total Return Fund
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MFS Utilities Fund
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MFS SERIES TRUST VII
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MFS Emerging Markets Equity Research Fund
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MFS Equity Income Fund
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MFS SERIES TRUST VIII
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MFS Global Growth Fund
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MFS Income Fund
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MFS SERIES TRUST IX
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MFS Corporate Bond Fund
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MFS Inflation-Adjusted Bond Fund
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MFS Limited Maturity Fund
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MFS Municipal Limited Maturity Fund
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MFS Total Return Bond Fund
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MFS SERIES TRUST X
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MFS Aggressive Growth Allocation Fund
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MFS Blended Research Growth Equity Fund
MFS Blended Research Mid Cap Equity Fund
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MFS Blended Research Small Cap Equity Fund
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MFS Blended Research Value Equity Fund
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MFS Conservative Allocation Fund
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MFS Emerging Markets Debt Fund
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MFS Emerging Markets Debt Local Currency Fund
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MFS Emerging Markets Equity Fund
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MFS Global Opportunistic Bond Fund
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MFS Growth Allocation Fund
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MFS International Diversification Fund
|
MFS International Growth Fund
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MFS International Intrinsic Value Fund
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MFS International Large Cap Value Fund
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MFS Managed Wealth Fund
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MFS Moderate Allocation Fund
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MFS SERIES TRUST XI
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MFS Blended Research Core Equity Fund
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MFS Mid Cap Value Fund
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MFS SERIES TRUST XII
|
MFS Lifetime Income Fund
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MFS Lifetime 2020 Fund
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MFS Lifetime 2025 Fund
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MFS Lifetime 2030 Fund
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MFS Lifetime 2035 Fund
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MFS Lifetime 2040 Fund
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MFS Lifetime 2045 Fund
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MFS Lifetime 2050 Fund
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MFS Lifetime 2055 Fund
MFS Lifetime 2060 Fund
|
MFS Lifetime 2065 Fund
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MFS SERIES TRUST XIII
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MFS Diversified Income Fund
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MFS Global Real Estate Fund
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MFS Government Securities Fund
|
MFS New Discovery Value Fund
|
MFS SERIES TRUST XIV
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MFS Institutional Money Market Portfolio
|
MFS SERIES TRUST XV
|
MFS Commodity Strategy Fund
|
MFS Global Alternative Strategy Fund
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MFS SERIES TRUST XVI
|
MFS Prudent Investor Fund
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STAND-ALONE FUNDS
|
Massachusetts Investors Growth Stock Fund
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Massachusetts Investors Trust
|
CLOSED-END FUNDS
|
MFS Charter Income Trust
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MFS Government Markets Income Trust
|
MFS High Income Municipal Trust
|
MFS High Yield Municipal Trust
|
MFS Intermediate High Income Fund
|
MFS Intermediate Income Trust
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MFS Investment Grade Municipal Trust
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MFS Multimarket Income Trust
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MFS Municipal Income Trust
|
MFS Special Value Trust
|
MFS MUNICIPAL SERIES TRUST
|
MFS Alabama Municipal Bond Fund
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MFS Arkansas Municipal Bond Fund
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MFS California Municipal Bond Fund
|
MFS Georgia Municipal Bond Fund
|
MFS Maryland Municipal Bond Fund
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MFS Massachusetts Municipal Bond Fund
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MFS Mississippi Municipal Bond Fund
|
MFS New York Municipal Bond Fund
|
MFS North Carolina Municipal Bond Fund
|
MFS Pennsylvania Municipal Bond Fund
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MFS South Carolina Municipal Bond Fund
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MFS Virginia Municipal Bond Fund
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MFS West Virginia Municipal Bond Fund
|
MFS Municipal Income Fund
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MFS Municipal Intermediate Fund
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MFS VARIABLE INSURANCE TRUST
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MFS Growth Series
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MFS Global Equity Series
|
MFS Investors Trust Series
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MFS Mid Cap Growth Series
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MFS New Discovery Series
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MFS Total Return Bond Series
|
MFS Research Series
|
MFS Total Return Series
|
MFS Utilities Series
|
MFS Value Series
|
MFS INSTITUTIONAL TRUST
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MFS Institutional International Equity Fund
|
MFS VARIABLE INSURANCE TRUST II
|
MFS Blended Research Core Equity Portfolio
|
MFS Corporate Bond Portfolio
|
MFS Core Equity Portfolio
|
MFS Emerging Markets Equity Portfolio
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MFS Global Governments Portfolio
|
MFS Global Growth Portfolio
|
MFS Global Research Portfolio
|
MFS Global Tactical Allocation Portfolio
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MFS Government Securities Portfolio
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MFS High Yield Portfolio
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MFS International Growth Portfolio
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MFS International Intrinsic Value Portfolio
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MFS Massachusetts Investors Growth Stock Portfolio
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MFS U.S. Government Money Market Portfolio
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MFS Research International Portfolio
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MFS Income Portfolio
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MFS Technology Portfolio
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MFS VARIABLE INSURANCE TRUST III
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MFS Blended Research Small Cap Equity Portfolio
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MFS Conservative Allocation Portfolio
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MFS Global Real Estate Portfolio
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MFS Growth Allocation Portfolio
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MFS Inflation-Adjusted Bond Portfolio
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MFS Limited Maturity Portfolio
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MFS Mid Cap Value Portfolio
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MFS Moderate Allocation Portfolio
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MFS New Discovery Value Portfolio
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Insured: |
MASSACHUSETTS FINANCIAL SERVICES COMPANY Date: October 25, 2022
DBA MFS INVESTMENT MANAGEMENT
|
Producer: | WILLIS TOWERS WATSON NORTHEAST INC |
Company: |
FEDERAL INSURANCE COMPANY
|
EFFECTIVE DATE
|
BOND NUMBER
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COVERAGE
|
PREMIUM
|
|
November 1, 2021
|
81391896
|
ICAP Bond
|
$ 73,225
|
|
To
|
||||
November 1, 2022
|
Renewal
|
|||
0% Commission
|
||||
TOTAL
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$ 73,225
|
ITEM 1.
|
BOND PERIOD: from
|
12:01 a.m. on
|
November 1, 2021
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to
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12:01 a.m. on
|
November 1, 2022
|
|
ITEM 2. |
LIMITS OF LIABILITY--DEDUCTIBLE AMOUNTS: | ||
If “Not Covered” is inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE and any other reference shall be deemed to be deleted. There shall be no deductible applicable to any loss under INSURING CLAUSE 1. sustained by any Investment Company. |
INSURING CLAUSE
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SINGLE LOSS
LIMIT OF LIABILITY
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DEDUCTIBLE
AMOUNT
|
||||
1.
|
Employee
|
$
|
25,000,000
|
$
|
100,000
|
|
2.
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On Premises
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$
|
25,000,000
|
$
|
100,000
|
|
3.
|
In Transit
|
$
|
25,000,000
|
$
|
100,000
|
|
4.
|
Forgery or Alteration
|
$
|
25,000,000
|
$
|
100,000
|
|
5.
|
Extended Forgery
|
$
|
25,000,000
|
$
|
100,000
|
|
6.
|
Counterfeit Money
|
$
|
25,000,000
|
$
|
100,000
|
|
7.
|
Threats to Person
|
$
|
Not Covered
|
$
|
Not Covered
|
|
8.
|
Computer System
|
$
|
25,000,000
|
$
|
100,000
|
|
9.
|
Voice Initiated Funds
Transfer Instruction
|
|||||
$
|
25,000,000
|
$
|
100,000
|
|||
10.
|
Uncollectible Items of
Deposit
|
|||||
$
|
250,000
|
$
|
100,000
|
|||
11.
|
Audit Expense
|
$
|
250,000
|
$
|
100,000
|
ITEM 3. | THE LIABILITY OF THE COMPANY IS ALSO SUBJECT TO THE TERMS OF THE FOLLOWING ENDORSEMENTS EXECUTED SIMULTANEOUSLY HEREWITH: |
|
||
Secretary
October 25, 2022
|
President
|
|
Date
|
Authorized Representative
|
Insuring Clauses
|
|
Employee
|
1. Loss resulting directly
from Larceny or Embezzlement committed by any Employee, alone or in collusion with others.
|
On Premises
|
2. Loss of Property resulting directly from robbery, burglary, false pretenses, common law or statutory larceny, misplacement, mysterious unexplainable disappearance, damage, destruction or
removal, from the possession, custody or control of the ASSURED, while such Property is lodged or deposited at premises located anywher
|
In Transit
|
3. Loss of Property resulting directly from common law or statutory larceny, misplacement, mysterious unexplainable disappearance, damage or destruction, while the Property is in transit anywhere:
|
a.
|
in an armored motor vehicle, including loading and unloading thereof,
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b.
|
in the custody of a natural person acting as a messenger of the ASSURED, or
|
c.
|
in the custody of a Transportation Company and being transported in a conveyance other than an armored motor vehicle provided,
however, that covered Property transported in such manner is limited to the following:
|
(1)
|
written records,
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(2)
|
securities issued in registered form, which are not endorsed or are restrictively endorsed, or
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(3)
|
negotiable instruments not payable to bearer, which are not endorsed or are restrictively endorsed.
|
|
Coverage
under this INSURING CLAUSE begins immediately on the receipt of such Property by the natural person or Transportation Company and ends
immediately on delivery to the premises of the addressee or to any representative of the addressee located anywhere.
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Insuring Clauses
(continued)
|
|
Forgery Or Alteration
|
4. Loss resulting directly from:
|
a.
|
Forgery on, or fraudulent material alteration of, any bills of exchange, checks, drafts, acceptances, certificates of deposits,
promissory notes, due bills, money orders, orders upon public treasuries, letters of credit, other written promises, orders or directions to pay sums certain in money, or receipts for the withdrawal of Property, or
|
b.
|
transferring, paying or delivering any funds or other Property, or establishing any credit or giving any value in reliance on any
written instructions, advices or applications directed to the ASSURED authorizing or acknowledging the transfer, payment, delivery or receipt of funds or other Property, which
instructions, advices or applications fraudulently purport to bear the handwritten signature of any customer of the ASSURED, or shareholder or subscriber to shares of an Investment Company,
or of any financial institution or Employee but which instructions, advices or applications either bear a Forgery or have been fraudulently
materially altered without the knowledge and consent of such customer, shareholder, subscriber, financial institution or Employee;
|
Extended Forgery |
5. Loss
resulting directly from the ASSURED having, in good faith, and in the ordinary course of business, for its own account or the account of others in any
capacity:
|
a.
|
acquired, accepted or received, sold or delivered, or given value, extended credit or assumed liability, in reliance on any original Securities,
documents or other written instruments which prove to:
|
(1)
|
bear a Forgery or a fraudulently material alteration,
|
(2)
|
have been lost or stolen, or
|
(3)
|
be Counterfeit, or
|
b.
|
guaranteed in writing or witnessed any signatures on any transfer, assignment, bill of sale, power of attorney, guarantee, endorsement or other obligation upon or in
connection with any Securities, documents or othe r written instruments.
|
Insuring Clauses
|
|
Extended Forgery
(continued)
|
For the purpose of this INSURING CLAUSE, a
mechanically reproduced facsimile signature is treated the same as a handwritten signature.
|
Counterfeit Money |
6. Loss
resulting directly from the receipt by the ASSURED in good faith of any Counterfeit money.
|
Threats To Person |
7. Loss
resulting directly from surrender of Property away from an office of the ASSURED as a result of a threat communicated to the ASSURED to do bodily harm to an Employee as defined in SECTION 1.e. (1), (2) and (5), a Re
la tive or invitee of such Employee, or a resident of
the household of such Employee, who is, or allegedly is, being
held captive provided, however, that prior to the surrender of such Property:
|
a.
|
the Employee who receives the threat has made a reasonable effort to notify an officer of the ASSURED who is not involved in such threat, and
|
b.
|
the ASSURED has made a reasonable effort to notify the Federal Bureau of Investigation and local law enforcement authorities concerning such threat.
|
Computer System |
8. Loss
resulting directly from fraudulent:
|
a.
|
entries of data into, or
|
b.
|
changes of data elements or programs within,
a Computer System, provided the fraudulent entry or change causes:
|
(1)
(2)
(3)
|
funds or other property to be transferred, paid or delivered,
an account of the ASSURED or of its customer to be added, deleted, debited or credited, or
an
unauthorized account or a fictitious account to be debited or credited.
|
Insuring Clauses
(continued)
|
|
Voice Initiated Funds
Transfer Instruction
|
9. Loss resulting directly from Voice Initiated Funds Transfer Instruction directed to the ASSURED authorizing the transfer of dividends or
redemption proceeds of Investment Company shares from a Customer's account, provided such Voice
Initiated Funds Transfer Instruction was:
a. received at the ASSURED'S offices by those
Employees of the ASSURED specifically authorized to receive the Voice Initiated Funds Transfer Instruction,
b. made by a person purporting to be a Customer, and
c. made by said person for the purpose of
causing the ASSURED or Customer to sustain a loss or making an improper personal financial gain for such person or any other person.
In order for coverage to apply under this INSURING CLAUSE, all Voice Initiated Funds Transfer Instructions must be
received and processed in accordance with the Designated Procedures outlined in the APPLICATION furnished to the COMPANY.
|
Uncollectible Items of Deposit |
10. Loss resulting directly from the ASSURED having credited
an account of a customer, shareholder or subscriber on the faith of any Items of Deposit which prove to be uncollectible, provided that the crediting of such account
causes:
a. redemptions or withdrawals to be permitted,
b. shares to be issued, or
c. dividends to be paid,
from an account of an Investment Company.
In order for coverage to apply under this INSURING CLAUSE, the ASSURED must hold Items of Deposit for
the minimum number of days stated in the APPLICATION before permitting any redemptions or withdrawals, issuing any shares or paying any dividends with respect to such Items of
Deposit.
Items of Deposit shall not be deemed uncollectible until the ASSURED'S standard collection
procedures have failed.
|
Audit Expense |
11. Expense
incurred by the ASSURED for that part of the cost of audits or examinations required by any governmental regulatory authority or self-regulatory organization to be conducted by such authority, organization or
their appointee by reason of the discovery of loss sustained by the ASSURED and covered by this Bond.
|
General Agreements
|
Additional Companies
Included As Assured
|
A. If
more than one corporation, or Investment Company, or any combination of them is included as the ASSURED herein:
|
(1) The total liability of the COMPANY under this Bond for loss or losses sustained by any one or more or all of them shall not exceed
the limit for which the COMPANY would be liable under this Bond if all such loss were sustained by any one of them.
(2) Only the first named ASSURED shall be deemed to be the sole agent of the others for all purposes under this Bond, including but not limited to the giving or
receiving of any notice or proof required to be given and for the purpose of effecting or accepting any amendments to or termination of this Bond. The COMPANY shall furnish each Investment Company with a copy of the Bond and with any amendment thereto, together with a copy of each formal filing of claim by any other named ASSURED and notification of the terms of the
settlement of each such claim prior to the execution of such settlement.
(3) The COMPANY shall not be responsible for the proper application of any payment made hereunder to the first named ASSURED.
(4) Knowledge possessed or discovery made by any partner, director, t rustee, officer or supervisory employee of any ASSURED shall constitute knowledge or
discovery by all the ASSUREDS for the purposes of this Bond.
(5) If the first named ASSURED ceases for any reason to be covered under this Bond, then the ASSURED next named on the APPLICATION shall thereafter be
considered as the first named ASSURED for the purposes of this Bond.
|
Representation Made By
Assured |
B. The ASSURED represents that all information it has
furnished in the APPLICATION for this Bond or otherwise is complete, true and correct. Such APPLICATION and other information constitute part of this Bond.
The ASSURED must promptly notify the COMPANY of any change in any fact or circumstance which materially affects the risk assumed by the COMPANY under this
Bond.
Any intentional misrepresentation, omission, concealment or incorrect statement of a material fact, in the APPLICATION or otherwise, shall be grounds for
recision of this Bond.
|
General Agreements
(continued)
|
Additional Offices Or
Employees - Consolidation,
Merger Or Purchase Or
Acquisition Of Assets Or
Liabilities - Notice To
Company
|
C. If the ASSURED, other
than an Investment Company, while this Bond is in force, merges or consolidates with, or purchases or acquires assets or liabilities of another institution, the
ASSURED shall not have the coverage afforded under this Bond for loss which has:
(1) occurred or will occur on premises, or
(2) been caused or will be caused by an employee, or
(3) arisen or will arise out of the assets or liabilities,
of such institution, unless the ASSURED:
a. gives the COMPANY written notice of
the proposed consolidation, merger or purchase or acquisition of assets or liabilities prior to the proposed effective date of such action, and
b. obtains the written consent of the
COMPANY to extend some or all of the coverage provided by this Bond to such additional exposure, and
c. on obtaining such consent, pays to
the COMPANY an additional premium.
|
Change Of Control -
Notice To Company
|
D. When the ASSURED learns of a change in
control (other than in an Investment Company), as set forth in Section 2(a) (9) of the Investment Company Act of 1940, the ASSURED shall within sixty (60) days give
written notice to the COMPANY setting forth:
(1) the names of the transferors and transferees (or the
names of the beneficial owners if the voting securities are registered in another name),
(2) 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
(3) the total number of outstanding voting securities.
Failure to give the required notice shall result in termination of coverage for any loss involving a transferee, to be effective on the
date of such change in control.
|
Court Costs And
Attorneys’ Fees
|
E. The COMPANY
will indemnify the ASSURED for court costs and reasonable attorneys' fees incurred and paid by the ASSURED in defense, whether or not successful, whether or not fully litigated on the merits and whether or not
settled, of any claim, suit or legal proceeding with respect to which the ASSURED would be entitled to recovery under this Bond. However, with respect to INSURING CLAUSE 1., this Section shall only apply in the
event that:
(1) an Employee admits to being guilty of Larceny or Embezzlement,
(2) an Employee is adjudicated to be guilty of Larceny or Embezzlement, or
|
General Agreements
|
Court Costs And
Attorneys’ Fees
(continued)
|
(3) in the absence of 1 or 2 above, an arbitration panel
agrees, after a review of an agreed statement of facts between the COMPANY and the ASSURED, that an Employee would be found guilty of Larceny or Embezzlement if such Employee were prosecuted.
The ASSURED shall promptly give notice to the COMPANY of any such suit or legal proceeding and at the request of the
COMPANY shall furnish copies of all pleadings and pertinent papers to the COMPANY. The COMPANY may, at its sole option, elect to conduct the defense of all or part of such legal proceeding. The defense by
the COMPANY shall be in the name of the ASSURED through attorneys selected by the COMPANY. The ASSURED shall provide all reasonable information and assistance as required by the COMPANY for such defense.
If the COMPANY declines to defend the ASSURED, no settlement without the prior written consent of the COMPANY nor
judgment against the ASSURED shall determine the existence, extent or amount of coverage under this Bond.
If the amount demanded in any such suit or legal proceeding is within the DEDUCTIBLE AMOUNT, if any, the COMPANY
shall have no liability for court costs and attorney's fees incurred in defending all or part of such suit or legal proceeding.
If the amount demanded in any such suit or legal proceeding is in excess of the LIMIT OF LIABILITY stated in ITEM 2.
of the DECLARATIONS for the applicable INSURING CLAUSE, the COMPANY'S liability for court costs and attorney's fees incurred in defending all or part of such suit or legal proceedings is limited to the
proportion of such court costs and attorney's fees incurred that the LIMIT OF LIABILITY stated in ITEM 2. of the DECLARATIONS for the applicable INSURING CLAUSE bears to the total of the amount demanded in
such suit or legal proceeding.
If the amount demanded is any such suit or legal proceeding is in excess of the DEDUCTIBLE AMOUNT, if any, but within
the LIMIT OF LIABILITY stated in ITEM
2. of the DECLARATIONS for the applicable INSURING CLAUSE, the COMPANY'S liability for court costs and attorney's
fees incurred in defending all or part of such suit or legal proceedings shall be limited to the proportion of such court costs or attorney's fees that the amount demanded that would be payable under this
Bond after application of the DEDUCTIBLE AMOUNT, bears to the total amount demanded.
Amounts paid by the COMPANY for court costs and attorneys' fees shall be in addition to the LIMIT OF LIABILITY stated in ITEM 2. of the
DECLARATIONS.
|
Conditions and
Limitations
|
Definitions
|
1. As used in this Bond:
a. Computer
System means a computer and all input, output, processing, storage, off-line media libraries, and communication facilities which are connected to the computer and which are under
the control and supervis ion of the operating system(s) or application(s) software used by the ASSURED.
b. Counterfeit means an imitation of an actual valid original which is intended to deceive and be taken as the original.
c. Custodian means the institution designated by an Investment Company to maintain possession and control of
its assets.
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.
e. Employee
means:
(1) an officer of
the ASSURED,
(2) a natural
person while in the regular service of the ASSURED at any of the ASSURED'S premises and compensated directly by the ASSURED through its payroll system and subject to the United States
Internal Revenue Service Form W-2 or equivalent income reporting plans of other countries, and whom the ASSURED has the right to control and direct both as to the result to be
accomplished and details and means by which such result is accomplished in the performance of such service,
(3) a guest
student pursuing studies or performing duties in any of the ASSURED'S premises,
(4) an attorney
retained by the ASSURED and an employee of such attorney while either is performing legal services for the ASSURED,
(5) a natural
person provided by an employment contractor to perform employee duties for the ASSURED under the ASSURED'S supervision at any of the ASSURED'S premises,
(6) an employee
of an institution merged or consolidated with the ASSURED prior to the effective date of this Bond,
(7) a director
or trustee of the ASSURED, but only while performing acts within the scope of the customary and usual duties of any officer or other employee of the ASSURED or while acting as a member
of any committee duly elected or appointed to examine or audit or have custody of or access to Property
of the ASSURED, or
|
Conditions and
Limitations
|
Definitions
(continued)
|
(8) each natural person, partnership or
corporation authorized by written agreement with the ASSURED to perform services as electronic data processor of checks or other accounting records related to such checks but only while such person,
partnership or corporation is actually performing such services and not:
a. creating, preparing, modifying or
maintaining the ASSURED'S computer software or programs, or
b. acting as transfer agent or in
any other agency capacity in issuing checks, drafts or securities for the ASSURED,
(9) any
partner, officer or employee of an investment advisor, an underwriter (distributor), a transfer agent or shareholder accounting recordkeeper, or an 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.
The term Employee shall not include any partner, officer or employee of a transfer agent, shareholder
accounting recordkeeper or administrator:
a. which is not an "affiliated
person" (as defined in Section 2(a) of the Investment Company Act of 1940) of an Investment Company or of the investment advisor or underwriter (distributor) of
such Investment Company, or
b. which is a "bank" (as defined in
Section 2(a) of the Investment Company Act of 1940).
This Bond does not afford coverage in favor of the employers of persons as set forth in e. (4), (5) and (8) above, and upon payment to the ASSURED by the COMPANY resulting directly from La rceny 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 ASSURED'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 ASSURED to the
COMPANY, and the ASSURED shall execute all papers necessary to secure to the COMPANY the rights provided for herein.
Each employer of persons as set forth in e.(4), (5) and (8) above and the partners, officers and other employees of such employers
shall collectively be deemed to be one person for all the purposes of this Bond; excepting, however, the fifth paragraph of Section 13.
Independent contractors not specified in e.(4), (5) or (8) above, intermediaries, agents, brokers or other representatives of the
same general character shall not be considered Employees.
|
Conditions and
Limitations
|
Definitions
(continued)
|
f. Forgery means the
signing of the name of another natural person with the intent to deceive but does not mean a signature which consists in whole or in part of one's own name, with or without authority, in any capacity for any
purpose.
g. Investment Company means any
investment company registered under the Investment Company Act of 1940 and listed under the NAME OF ASSURED on the DECLARATIONS.
h. Items of Deposit means one or more
checks or drafts drawn upon a financial institution in the United States of America.
i. Larceny or Embezzlement means
larceny or embezzlement as defined in Section 37 of the Investment Company Act of 1940.
j. Property means money, revenue and
other stamps; securities; including any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of deposit, certificate of interest or participation in any profit- sharing
agreement, collateral trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting trust certificate, certificate of deposit for a security, fractional
undivided interest in oil, gas, or other mineral rights, any interest or instruments commonly known as a security under the Investment Company Act of 1940, any other certificate of interest or participation
in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the foregoing; bills of exchange; acceptances; checks; withdrawal orders; money
orders; travelers' letters of credit; bills of lading; abstracts of title; insurance policies, deeds, mortgages on real estate and/or upon chattels and interests therein; assignments of such policies, deeds
or mortgages; other valuable papers, including books of accounts and other records used by the ASSURED in the conduct of its business (but excluding all electronic data processing records); and, all other
instruments similar to or in the nature of the foregoing in which the ASSURED acquired an interest at the time of the ASSURED'S consolidation or merger with, or purchase of the principal assets of, a
predecessor or which are held by the ASSURED for any purpose or in any capacity and whether so held gratuitously or not and whether or not the ASSURED is liable therefor.
k. Relative means the spouse of an Employee or partner of the ASSURED and any unmarried child supported wholly by, or living in the home of, such Employee or
partner and being related to them by blood, marriage or legal guardianship.
l. Securities, documents or other written
instruments means original (including original counterparts) negotiable or non-negotiable instruments, or assignments thereof, which in and of themselves represent an equitable interest,
ownership, or debt and which are in the ordinary course of business transferable by delivery of such instruments with any necessary endorsements or assignments.
|
Conditions and
Limitations
|
Definitions
(continued)
|
m. Subsidiary means
any organization that, at the inception date of this Bond, is named in the APPLICATION or is created during the BOND PERIOD and of which more than fifty percent (50%) of the outstanding securities or
voting rights representing the present right to vote for election of directors is owned or controlled by the ASSURED either directly or through one or more of its subsidiaries.
n. Transportation Company means any organization which provides its own or its leased vehicles for transportation or which provides freight forwarding or air express services.
o. Voice Initiated Election means any election concerning dividend options available to Investment Company shareholders or subscribers which is
requested by voice over the telephone.
p. Voice Initiated Redemption means any redemption of shares issued by an Investment Company which is requested by voice over the telephone.
q. Voice Initiated Funds Transfer Instruction means any Voice Initiated Redemption or Voice Initiated Election.
|
For the purposes of these definitions, the singular includes the plural and the plural includes the singular, unless otherwise indicated.
|
General Exclusions -
Applicable to All Insuring
Clauses
|
2. This bond does
not directly or indirectly cover:
a. loss not reported to the
COMPANY in writing within sixty (60) days after termination of this Bond as an entirety;
b. loss due to riot or civil
commotion outside the United States of America and Canada, or any loss due to military, naval or usurped power, war or insurrection. This Section 2.b., however, shall not apply to loss which occurs
in transit in the circumstances recited in INSURING CLAUSE 3., provided that when such transit was initiated there was no knowledge on the part of any person acting for the ASSURED of such riot,
civil commotion, military, naval or usurped power, war or insurrection;
c. loss resulting from the
effects of nuclear fission or fusion or radioactivity;
d. loss of potential income
including, but not limited to, interest and dividends not realized by the ASSURED or by any customer of the ASSURED;
e. damages of any type for
which the ASSURED is legally liable, except compensatory damages, but not multiples thereof, arising from a loss covered under this Bond;
f. costs, fees and expenses
incurred by the ASSURED in establishing the existence of or amount of loss under this Bond, except to the extent covered under INSURING CLAUSE 11.;
g. loss resulting from indirect
or consequential loss of any nature;
|
Conditions and
Limitations
|
|
General Exclusions -
Applicable to All Insuring
Clauses
(continued)
|
h. loss resulting from dishonest acts by any
member of the Board of Directors or Board of Trustees of the ASSURED who is not an Employee, acting alone or in collusion with others;
i. loss, or that part of any loss, resulting
solely from any violation by the ASSURED or by any Employee:
(1) of any law regulating:
a. the issuance, purchase or
sale of securities,
b. securities transactions on
security or commodity exchanges or the over the counter market,
c. investment companies,
d. investment advisors, or
(2) of any rule or regulation
made pursuant to any such law; or
j. loss of confidential information, material or
data;
k. loss resulting from voice requests or
instructions received over the telephone, provided however, this Section 2.k. shall not apply to INSURING CLAUSE 7. or 9.
|
Conditions and
Limitations
|
|
Specific Exclusions -
Applicable To All Insuring
Clauses Except Insuring
Clause 1.
(continued)
|
f. loss resulting from the failure for
any reason of a financial or depository institution, its receiver or other liquidator to pay or deliver funds or other Property to the ASSURED
provided further that this Section 3.f. shall not apply to loss of Property resulting directly from robbery, burglary, misplacement, mysterious
unexplainable disappearance, damage, destruction or removal from the possession, custody or control of the ASSURED.
g. loss of Property while in the custody of a Transportation Company, provided however, that this Section 3.g. shall
not apply to INSURING CLAUSE 3.;
h. loss resulting
from entries or changes made by a natural person with authorized access to a Computer System who acts in good faith on instructions, unless
such instructions are given to that person by a software contractor or its partner, officer, or employee authorized by the ASSURED to design, develop, prepare, supply, service, write
or implement programs for the ASSURED's Computer System; or
i. loss
resulting directly or indirectly from the input of data into a Computer System terminal, either on the premises of the customer of the ASSURED
or under the control of such a customer, by a customer or other person who had authorized access to the customer's authentication mechanism.
|
Conditions and
Limitations
|
|
Limit Of Liability/Non-
Reduction And Non-
Accumulation Of Liability
(continued)
|
d. any
one casualty or event other than those specified in a., b., or c. above,
shall be deemed to be one loss and shall be limited to the applicable LIMIT OF LIABILITY
stated in ITEM 2. 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 from period to period.
All acts, as specified in c. above, of any one person which
i. directly
or indirectly aid in any way wrongful acts of any other person or persons, or
ii. permit
the continuation of wrongful acts of any other person or persons
whether such acts are committed with or without the knowledge of the wrongful acts of the
person so aided, and whether such acts are committed with or without the intent to aid such other person, shall be deemed to be one loss with the wrongful acts of
all persons so aided.
|
Discovery
|
6. This Bond applies only to loss first discovered by an
officer of the ASSURED during the BOND PERIOD. Discovery occurs at the earlier of an officer of the ASSURED being aware of:
a. facts which
may subsequently result in a loss of a type covered by this Bond, or
b. an actual
or potential claim in which it is alleged that the ASSURED is liable to a third party,
|
regardless of when the act or acts causing or contributing to such loss occurred, even though the amount of loss does not
exceed the applicable DEDUCTIBLE AMOUNT, or the exact amount or details of loss may not then be known.
|
Conditions and
Limitations
|
Notice To Company -
Proof - Legal Proceedings
Against Company
(continued)
|
f. Proof of loss involving Voice Initiated Funds Transfer Instruction shall include electronic recordings
of such instructions.
|
Deductible Amount
|
8. The COMPANY shall not be liable under any
INSURING CLAUSES of this Bond on account of loss unless the amount of such loss, after deducting the net amount of all reimbursement and/or recovery obtained or made by the ASSURED,
other than from any Bond or policy of insurance issued by an insurance company and covering such loss, or by the COMPANY on account thereof prior to payment by the COMPANY of such loss,
shall exceed the DEDUCTIBLE AMOUNT set forth in ITEM 3. of the DECLARATIONS, and then for such excess only, but in no event for more than the applicable LIMITS OF LIABILITY stated in
ITEM 2. of the DECLARATIONS.
There shall be no deductible applicable to any loss under INSURING CLAUSE 1. sustained by any
Investment Company.
|
Valuation
|
9. BOOKS OF ACCOUNT OR OTHER RECORDS
The value of any loss of Property consisting of
books of account or other records used by the ASSURED in the conduct of its business shall be the amount paid by the ASSURED for blank books, blank pages, or other materials which
replace the lost books of account or other records, plus the cost of labor paid by the ASSURED for the actual transcription or copying of data to reproduce such books of account or other
records.
The value of any loss of Property other than books
of account or other records used by the ASSURED in the conduct of its business, for which a c laim is made shall be determined by the average market value of such Property on the business day immediately preceding discovery of such loss provided, however, that the
value of any Property replaced by the ASSURED with the consent of the COMPANY and prior to the
settlement of any claim for such Property shall be the actual market value at the time of
replacement.
In the case of a loss of interim certificates, warrants, rights or other
securities, the production of which is necessary to the exercise of subscription, conversion, redemption or deposit privileges, the value of them shall be the market value of such
privileges immediately preceding their expiration if said loss 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.
OTHER PROPERTY
The value of any loss of Property, other than as stated above, shall be the
actual
cash value or the cost of repairing or replacing such Property with Property of like quality and value, whichever is less.
|
Conditions and
Limitations
(continued)
|
Securities Settlement
|
10. In the event of a loss of securities covered under
this Bond, the COMPANY may, at its sole discretion, purchase replacement securities, tender the value of the securities in money, or issue its indemnity to effect replacement
securities.
The indemnity required from the ASSURED under the terms of this Section against all loss, cost or expense arising from the
replacement of securities by the COMPANY'S indemnity shall be:
a. for securities having a
value less than or equal to the applicable DEDUCTIBLE AMOUNT - one hundred (100%) percent;
b. for
securities having a value in excess of the DEDUCTIBLE AMOUNT but within the applicable LIMIT OF LIABILITY - the percentage that the DEDUCTIBLE AMOUNT bears to the value of the
securities;
c. for
securities having a value greater than the applicable LIMIT OF LIABILITY - the percentage that the DEDUCTIBLE AMOUNT and portion in excess of the applicable LIMIT OF LIABILITY
bears to the value of the securities.
The value referred to in Section 10.a., b., and c. is the value in accordance with Section 9, Valuation, regardless of
the value of such securities at the time the loss under the COMPANY'S indemnity is sustained.
The COMPANY is not required to issue its indemnity for any portion of a loss of securities which is not covered by this
Bond; however, the COMPANY may do so as a courtesy to the ASSURED and at its sole discretion.
The ASSURED shall pay the proportion of the Company's premium charge for the Company's indemnity as set forth in Section
10.a., b., and c. No portion of the
LIMIT OF LIABILITY shall be used as payment of premium for any indemnity purchased by the ASSURED to obtain replacement
securities.
|
Subrogation - Assignment –
Recovery
|
11. In the event of a payment under this Bond, the COMPANY shall be subrogated
to all of the ASSURED'S rights of recovery against any person or entity to the extent of such payment. On request, the ASSURED shall deliver to the COMPANY an assignment of the
ASSURED'S rights, title and interest and causes of action against any person or entity to the extent of such payment.
Recoveries, whether effected by the COMPANY or by the ASSURED, shall be applied net of the expense of such recovery in the
following order:
a. first, to the
satisfaction of the ASSURED'S loss which would otherwise have been paid but for the fact that it is in excess of the applicable LIMIT OF LIABILITY,
b. second, to the COMPANY
in satisfaction of amounts paid in settlement of the ASSURED'S claim,
c. third, to the ASSURED in
satisfaction of the applicable DEDUCTIBLE AMOUNT, and
|
Conditions and
Limitations
|
Subrogation - Assignment –
Recovery
(continued)
|
d.
fourth, to the ASSURED in satisfaction of any loss suffered by the ASSURED which was not covered under this Bond.
Recovery from reinsurance or indemnity of the COMPANY shall not be deemed a recovery under this section.
|
Cooperation Of Assured
|
12. At the COMPANY'S request and at reasonable times and places designated by
the COMPANY, the ASSURED shall:
Recoveries, whether effected by the COMPANY or by the ASSURED, shall be applied net of the expense of such recovery in the
following order:
a. submit to examination by
the COMPANY and subscribe to the same under oath,
b. produce for the
COMPANY'S examination all pertinent records, and
c. cooperate with the
COMPANY in all matters pertaining to the loss.
The ASSURED shall execute all papers and render assistance to secure to the COMPANY the rights and causes of action provided
for under this Bond. The ASSURED shall do nothing after loss to prejudice such rights or causes of action.
|
Termination
|
13. If the Bond is for a sole ASSURED, it shall not be
terminated unless written notice shall have been given by the acting party to the affected party and to the Securities and Exchange Commission, Washington, D.C., not less than
sixty (60) days prior to the effective date of such termination.
If the Bond is for a joint ASSURED, it shall not be terminated unless
written notice shall have been given by the acting party to the affected party, and by the COMPANY to all ASSURED Investment Companies and
to the Securities and Exchange Commission, Washington, D.C., not less than sixty (60) days prior to the effective date of such termination.
This Bond will terminate as to any one ASSURED, other than an Investment Company:
a. immediately on the taking over of such ASSURED by a receiver
or other liquidator or by State or Federal officials, or
b. immediately on the filing of a petition under any State or
Federal statute relative to bankruptcy or reorganization of the ASSURED, or assignment for the benefit of creditors of the ASSURED, or
c. immediately upon such ASSURED ceasing to exist, whether
through merger into another entity, disposition of all of its assets or otherwise.
The COMPANY shall refund the unearned premium computed at short rates in
accordance with the standard short rate cancellation tables if terminated by
the ASSURED or pro rata if terminated for any other reason.
|
Conditions and
Limitations
|
Termination
(continued)
|
If any partner, director, trustee, or officer or supervisory employee of an ASSURED not acting in collusion with an Employee learns of any dishonest act committed by such Employee at any time, whether in
the employment of the ASSURED or otherwise, whether or not such act is of the type covered under this Bond, and whether against the ASSURED or any other person or
entity, the ASSURED:
a. shall
immediately remove such Employee from a position that would enable such Employee to
cause the ASSURED to suffer a loss covered by this Bond; and
b. within
forty-eight (48) hours of learning that an Employee has committed any dishonest act, shall notify the COMPANY, of such action
and provide full particulars of such dishonest act.
The COMPANY may terminate coverage as respects any Employee sixty (60) days
after written notice is received by each ASSURED Investment Company and the Securities and Exchange Commission, Washington,
D.C. of its desire to
terminate this Bond as to such Employee.
|
Other Insurance
|
14. Coverage under this Bond shall apply only as excess over any
valid and collectible insurance, indemnity or suretyship obtained by or on behalf of:
a. the ASSURED,
b. a Transportation Company, or
c. another
entity on whose premises the loss occurred or which employed the person causing the loss or engaged the messenger conveying the Property
involved.
|
Conformity
|
15. If any limitation within this Bond is prohibited by any law
controlling this 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.
|
Conditions And
Limitations
|
Change or Modification (continued)
|
If this Bond is for a joint ASSURED, no charge or modification which would adversely affect the rights
of the ASSURED shall be effective prior to sixty (60) days after written notice has been furnished to all insured Investment Companies and to the Securities and Exchange Commission, Washington, D.C., by the
COMPANY.
|
MFS Global Aggregate Opportunistic LLC
|
MFS International Concentrated Equity LLC
|
MFS International Growth LLC
|
MFS Core Plus Fixed Income LLC
|
MFS Global Equity LLC
|
MFS International Research Equity LLC
|
MFS Emerging Markets Debt LLC I
|
MFS International Growth LLC II
|
MFS Heritage Trust Company Collective Investment Trust - MFS Global
Aggregate Opportunistic Fund
|
MFS Heritage Trust Company Collective Investment Trust- MFS Blended
Research Large Cap Growth Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS
Emerging Markets Equity Fund I
|
MFS Heritage Trust Company Collective Investment Trust - MFS
International Intrinsic Value Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS Global
Value Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS
International Growth Fund II
|
MFS Heritage Trust Company Collective Investment Trust - MFS
International Small-Mid Cap Equity Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS
Investors Trust Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS Mid Cap
Growth Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS U.S.
REIT Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS Global
Equity Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS
International Research Equity Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS Growth
Equity Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS Large
Cap Value Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS
International Concentrated Equity Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS
Emerging Markets Debt Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS
International Growth Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS
International Equity Fund
|
MFS Heritage Trust Company Collective Investment Trust - MFS Global
Growth Fund
|
MFS Heritage Trust Company Collective Investment Trust- MFS Low
Volatility Global Equity
|
MFS Heritage Trust Company Collective Investment Trust - MFS
International Growth ex-Emerging Markets Fund
|
MFS Value Fund
|
MFS Low Volatility Global Equity Fund
|
MFS Low Volatility Equity Fund
|
MFS U.S. Government Cash Reserve Fund
|
MFS New Discovery Fund
|
MFS Core Equity Fund
|
MFS Research International Fund
|
MFS Technology Fund
|
MFS Global High Yield Fund
|
MFS High Yield Pooled Portfolio
|
MFS High Income Fund
|
MFS Municipal High Income Fund
|
MFS Blended Research Emerging Markets Equity Fund
|
MFS Blended Research International Equity Fund
|
MFS Global New Discovery Fund
|
MFS U.S. Government Money Market Fund
|
MFS Mid Cap Growth Fund
|
MFS Research Fund
|
MFS International New Discovery Fund
|
MFS Total Return Fund
|
MFS Utilities Fund
|
MFS Global Equity Fund
|
MFS Global Total Return Fund
|
MFS Income Fund
|
MFS Global Growth Fund
|
MFS Inflation-Adjusted Bond Fund
|
MFS Corporate Bond Fund
|
MFS Limited Maturity Fund
|
MFS Municipal Limited Maturity Fund
|
MFS Total Return Bond Fund
|
MFS Aggressive Growth Allocation Fund
|
MFS Blended Research Mid Cap Equity Fund
|
MFS Blended Research Small Cap Equity Fund
|
MFS Blended Research Value Equity Fund
|
MFS Blended Research Growth Equity Fund
|
MFS Conservative Allocation Fund
|
MFS Emerging Markets Debt Fund
|
MFS Emerging Markets Debt Local Currency Fund
|
MFS Emerging Markets Equity Fund
|
MFS International Growth Fund
|
MFS International Intrinsic Value Fund
MFS Global Opportunistic Bond Fund |
MFS Growth Allocation Fund
|
MFS International Diversification Fund
|
MFS Managed Wealth Fund
MFS International Large Cap Value Fund
MFS Moderate Allocation Fund
|
MFS Mid Cap Value Fund
|
MFS Blended Research Core Equity Fund
|
MFS Lifetime 2025 Fund
|
MFS Lifetime 2035 Fund
|
MFS Lifetime 2045 Fund
|
MFS Lifetime 2055 Fund
|
MFS Lifetime Income Fund
|
MFS Lifetime 2020 Fund
|
MFS Lifetime 2030 Fund
|
MFS Lifetime 2040 Fund
|
MFS Lifetime 2050 Fund
|
MFS Lifetime 2060 Fund
MFS Lifetime 2065 Fund
|
MFS Diversified Income Fund
|
MFS Global Real Estate Fund
|
MFS Government Securities Fund
|
MFS New Discovery Value Fund
|
MFS Commodity Strategy Fund
|
MFS Global Alternative Strategy Fund
|
Massachusetts Investors Growth Stock Fund
|
Massachusetts Investors Trust
|
MFS Intermediate High Income Fund
|
MFS High Yield Municipal Trust
|
MFS High Income Municipal Trust
|
MFS Investment Grade Municipal Trust
|
MFS Charter Income Trust
|
MFS Municipal Income Trust
|
MFS Special Value Trust
|
MFS Government Markets Income Trust
|
MFS Intermediate Income Trust
|
MFS Multimarket Income Trust
|
MFS Alabama Municipal Bond Fund
|
MFS Arkansas Municipal Bond Fund
|
MFS California Municipal Bond Fund
|
MFS Georgia Municipal Bond Fund
MFS Municipal Intermediate Fund
|
MFS Massachusetts Municipal Bond Fund
|
MFS Maryland Municipal Bond Fund
|
MFS Municipal Income Fund
|
MFS Mississippi Municipal Bond Fund
|
MFS North Carolina Municipal Bond Fund
|
MFS New York Municipal Bond Fund
|
MFS Pennsylvania Municipal Bond Fund
|
MFS South Carolina Municipal Bond Fund
|
MFS Virginia Municipal Bond Fund
|
MFS West Virginia Municipal Bond Fund
|
MFS Variable Insurance Trust -
MFS Growth Series
|
|
MFS Variable Insurance Trust -
MFS Total Return Bond Series
|
|
MFS Variable Insurance Trust -
MFS Research Series
|
|
MFS Variable Insurance Trust -
MFS Global Equity Series
|
|
MFS Variable Insurance Trust -
MFS Investors Trust Series
|
|
MFS Variable Insurance Trust -
MFS Value Series
|
|
MFS Variable Insurance Trust -
MFS Mid Cap Growth Series
|
|
MFS Variable Insurance Trust -
MFS New Discovery Series
|
MFS Variable Insurance Trust - MFS Total Return Series
|
MFS Variable Insurance Trust -
MFS Utilities Series
|
MFS VIT II - MFS
Corporate Bond Portfolio
|
MFS VIT II - MFS
Blended Research Core Equity Portfolio
|
MFS VIT II - MFS
Emerging Markets Equity Portfolio
|
MFS VIT II - MFS
International Intrinsic Value Portfolio
|
MFS VIT II - MFS
International Growth Portfolio
|
MFS VIT II - MFS
Government Securities Portfolio
|
MFS VIT II - MFS High
Yield Portfolio
|
MFS VIT II - MFS
Massachusetts Investors Growth Stock Portfolio
|
MFS VIT II - MFS U.S.
Government Money Market Portfolio
|
MFS VIT II - MFS Global
Research Portfolio
|
MFS VIT II - MFS Core
Equity Portfolio
|
MFS VIT II - MFS
Research International Portfolio
|
MFS VIT II - MFS Income
Portfolio
|
MFS VIT II - MFS
Technology Portfolio
|
MFS VIT II - MFS Global
Growth Portfolio
|
MFS VIT II - MFS Global
Governments Portfolio
|
MFS VIT II - MFS Global
Tactical Allocation Portfolio
|
MFS VIT III - MFS
Conservative Allocation Portfolio
|
MFS VIT III - MFS New
Discovery Value Portfolio
|
MFS VIT III - MFS
Growth Allocation Portfolio
|
MFS VIT III - MFS
Inflation-Adjusted Bond Portfolio
|
MFS VIT III - MFS
Limited Maturity Portfolio
|
MFS VIT III - MFS
Moderate Allocation Portfolio
|
MFS VIT III - MFS Mid
Cap Value Portfolio
|
MFS VIT III - MFS
Global Real Estate Portfolio
|
MFS VIT III - MFS
Blended Research Small Cap Equity Portfolio
|
Date: October 25, 2022
|
By
|
|
Authorized Representative
|
INSURING CLAUSE
|
SINGLE LOSS
LIMIT OF LIABILITY
|
DEDUCTIBLE
AMOUNT
|
1. Employee
|
$ 25,000,000
|
$ 100,000
|
2. On Premises
|
$ 25,000,000
|
$ 100,000
|
3. In Transit
|
$ 25,000,000
|
$ 100,000
|
4. Forgery or Alteration
|
$ 25,000,000
|
$ 100,000
|
5. Extended Forgery
|
$ 25,000,000
|
$ 100,000
|
6. Counterfeit Money
|
$ 25,000,000
|
$ 100,000
|
7. Threats to Person
|
$ Not Covered
|
$ Not Covered
|
8. Computer System
|
$ 25,000,000
|
$ 100,000
|
9. Voice Initiated Funds Transfer Instruction
|
$ 25,000,000
|
$ 100,000
|
10. Uncollectible Items of Deposit
|
$ 250,000
|
$ 100,000
|
11. Audit Expense
|
$ 250,000
|
$ 100,000
|
12. Unauthorized Signature
|
$ 25,000,000
|
$ 100,000
|
13. Claims Expense
|
$ 250,000
|
$ 100,000
|
14. Automated Phone System
|
$ 25,000,000
|
$ 100,000
|
15. Computer Systems & Voice Instruction
|
$ 25,000,000
|
$ 100,000
|
16. Destruction of Data or Programs by Hacker
|
$ 25,000,000
|
$ 100,000
|
17. Destruction of Data or Programs by Virus
|
$ 25,000,000
|
$ 100,000
|
Date: October 25, 2022
|
By
|
1.
|
By adding the following INSURING CLAUSE:
|
2.
|
By adding to Section 1., Definitions, the following:
|
r.
|
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.
|
s.
|
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.
|
t.
|
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.
|
Date: October 25, 2022
|
By
|
|
Authorized Representative
|
1.
|
By adding the following INSURING CLAUSE:
|
(1)
|
the loss is covered under the Bond, and
|
(2)
|
the loss is in excess of the applicable DEDUCTIBLE AMOUNT.
|
2.
|
Under General Exclusions-Applicable To All Insuring Clauses, Section 2.f. does not apply to loss covered under
this INSURING CLAUSE.
|
Date: October 25, 2022
|
By
|
|
Authorized Representative
|
(1)
|
The Insuring Clauses section is amended by adding the following Insuring Clause:
Automated Phone System Insuring Clause
|
(2)
|
For purposes of this endorsement, the following terms shall apply:
|
(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. 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:
|
(a)
|
begin by saying or pressing his/her account number, then say or press his/her PIN, or
|
(b)
|
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).
|
(c)
|
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.
|
(d)
|
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 ASSURED’S next regular processing cycle, but in no event later than five (5) business days following such APS
Transaction.
|
(e)
|
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: The Shareholder Services
Group, Inc., accesses the hardware housing the Mutual Fund On-Line system which effects transactions.
|
(3)
|
With respect to the coverage afforded pursuant to the Automated Phone Systems Insuring Clause, this Bond
does not directly or indirectly cover any loss resulting from:
|
(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; or
|
(2)
|
the redemption of shares, where the proceeds of such redemption are paid by check
mailed to any address, unless such address has either been (i) designated by voice over the telephone or in writing without a signature
guarantee. In either case at least thirty (30) days prior to such redemption, or (ii) designated, or (iii) verified by any other
procedures, if such procedures are stated below in this Endorsement; or
|
(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
|
(4)
|
the intentional failure to adhere to one or more APS Designated Procedures.
|
1.
|
This bond is amended by adding the following additional Insuring Clause: Computer
Systems And Voice Instructions Insuring Clause
|
(A)
|
Loss resulting directly from a fraudulent:
|
(1)
|
entry of data into; or
|
(2)
|
change of data elements or programs within a “Computer System” (as defined below),
provided the fraudulent entry or change causes:
|
(a)
|
Property to be transferred, paid or
delivered;
|
(b)
|
an account of the ASSURED, or of its customer, to be added, deleted, debited or
credited; or
|
(c)
|
an authorized account or a fictitious account to be debited or credited.
|
(3)
|
voice instructions or advices having been transmitted to the
ASSURED or its agent(s) by telephone; and provided further, the fraudulent entry or change is made or caused by an
individual acting with the manifest intent to:
|
(a)
|
cause the ASSURED or its agent(s) to sustain a loss; or
|
(b)
|
obtain financial benefit for that individual or for other persons intended by that
individual to receive financial benefit;
|
(i)
|
were made by a person who purported to represent an individual authorized to make
such voice instructions or advices; or
|
(ii)
|
were electronically recorded by the ASSURED or its agent(s).
|
(4)
|
It shall be a condition to recovery under this Computer Systems
And Voice Instructions Insuring Clause that the ASSURED or its agent(s) shall to the best of their ability
electronically record all voice instructions or advices received over telephone. The ASSURED or its agent(s) warrant
that they shall make their best efforts to maintain the electronic recording system on a continuous basis.
|
(B)
|
Loss resulting by reason of the ASSURED or its Employee(s) having transferred, paid, or delivered any funds or property,
established any credit, debited any account or given any value on the faith of any instructions directed to the ASSURED
or its Employee(s) over the Internet authorizing or acknowledging the
transfer, payment, delivery or receipt of funds or property which instructions were transmitted over the Internet
directly to the ASSURED or its Employee(s) and fraudulently purport to have
been sent by a customer, an office of the ASSURED or another financial institution, but which instructions were either
transmitted over the Internet, without the knowledge or consent of said person, or were fraudulently modified during
transmission over the Internet to the ASSURED or its Employee(s).
|
2.
|
For purposes of this endorsement, the following terms shall apply:
“Computer System” means:
|
(a)
|
computers with related peripheral components, including storage components, wherever located;
|
(b)
|
systems and applications software;
|
(c)
|
terminal devices;
|
(d)
|
related communication networks or customer communication systems; or
|
(e)
|
related “Electronic Funds Transfer Systems” (as defined below);
|
3.
|
In addition to the exclusions in the attached bond, the following
exclusions are applicable to this Computer Systems And Voice Instructions Insuring Clause:
|
(a)
|
loss resulting directly or indirectly from the theft of confidential information,
material or data;
|
(b)
|
loss resulting directly or indirectly from entries or changes made
by an individual authorized to have access to a Computer System who acts in good faith on instructions, unless such
instructions are given to that individual by a software contractor (or by a partner, officer or employee thereof)
authorized by the ASSURED to design, develop prepare, supply service, write or implement programs for the ASSURED’S
Computer System. This exclusion shall only apply to that customer’s account.
|
4.
|
The coverage afforded by this endorsement applies only to loss
discovered by the ASSURED during the period this endorsement is in force.
|
5.
|
All loss or series of losses involving the fraudulent activity in which
one individual is implicated, whether or not that individual is specifically identified, shall be treated as one loss. A
series of losses involving unidentified individuals but arising from the same method of operation may be deemed by the
COMPANY to involve the same individual and in that even shall be treated as one loss.
|
6.
|
The COMPANY’S maximum Limit of Liability for this Computer Systems
And Voice Instructions Insuring Clause is $25,000,000, and is subject to a deductible of $100,000, which applies to each
and every loss.
|
7.
|
If any loss is covered under this Insuring Clause and any other
Insuring Clause or Coverage, the maximum amount payable for such loss shall not exceed the largest amount available
under any one Insuring Clause or Coverage.
|
8.
|
Coverage under this endorsement shall terminate upon termination or
cancellation of the bond to whic h this endorsement is attached. Coverage under this endorsement may also be terminated
or cancelled without cancelling the bond as an entirety:
|
(a)
|
ninety (90) days after receipt by the ASSURED of written
notice from the COMPANY of its desire to terminate or cancel coverage under this endorsement; or
|
(b)
|
immediately upon receipt by the COMPANY of a written request
from the ASSURED to terminate or cancel coverage under this endorsement.
|
1.
|
Section 7., Notice to Company-Proof-Legal Proceedings Against
Company, of the Conditions and Limitations, of this bond is amended by adding the following sentence:
|
2.
|
Notwithstanding the foregoing, however, coverage afforded by this
endorsement is not designed to provide protection against loss covered under a separate Electronic and Computer
Crime Policy by whatever title assigned or written by any insurer. Any loss which is covered under such separate
Policy is excluded from coverage under this bond; and the ASSURED agrees to make claim for such loss under its
separate policy.
|
|
|
|
Authorized Representative
|
(1)
|
Dishonest or fraudulent acts which meet any of the following criteria
will not require notification by the ASSURED to the Company:
|
(i)
|
Acts involving values of less than $10,000 (Ten thousand dollars), or
|
(ii)
|
convictions involving any controlled substances as defined by federal and
local law which:
|
(a)
|
occurred more than three (3) years prior to the ASSURED’S discovery; and
|
(b)
|
did not occur while employed by the ASSURED.
|
(2)
|
Any request for waiver for an Employee must
include a description of the position to be held and a description of the facts and circumstances
surrounding the legal infraction.
|
|
|
|
Authorized Representative
|
(1)
|
The Insuring Clauses section is amended by adding the following Insuring Clause: Telefacsimile Transmissions Insuring
Clause
|
(i)
|
fraudulently purport to have been sent by such customer or financial institution but which 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 forged signature.
|
(2)
|
The coverage afforded by this endorsement applies only to loss discovered by the ASSURED during the period this endorsement
is in force. The first sentence of Subsection 6, Discovery, of the Conditions and Limitations section of this Bond does not
apply to this Telefacsimile Transmissions Insuring Clause.
|
(3)
|
The Company’s maximum Limit of Liability for this Telefacsimile Transmissions Insuring Clause is
|
(4)
|
Coverage under this endorsement shall terminate upon termination or cancellation of this Bond
to which this endorsement is attached, and coverage under this endorsement may also be terminated or canceled without
canceling the Bond as an entirety:
|
(i)
|
ninety (90) days after receipt by the ASSURED of written notice from the Company of its desire to terminate or cancel
coverage under this endorsement, or
|
(ii)
|
immediately upon receipt by the Company of a written request from the
|
(1)
|
For purposes of this endorsement, the following terms shall apply:
|
|
|
|
Authorized Representative
|
|
|
|
Authorized Representative
|
1.
|
By adding to Section 13., Termination, the following:
"Termination By The Company
|
1.
|
Nonpayment of premium;
|
2.
|
Discovery of fraud or material
misrepresentation in obtaining this Bond or in the presentation of a claim thereunder;
|
3.
|
Discovery of willful or reckless acts or
omissions or violation of any provision of this Bond on the part of the ASSURED which
substantially and materially increases any hazard insured against, and which occurred
subsequent to the inception of the current BOND PERIOD;
|
4.
|
Conviction of the ASSURED of a crime
arising out of acts increasing the hazard insured against;
|
5.
|
Material change in the risk which increases
the risk of loss after insurance coverage has been issued or renewed, except to the extent
that the COMPANY should reasonably have foreseen the change, or contemplated the risk when the
contract was written;
|
6.
|
Determination by the Commissioner that the
continuation of the Bond would jeopardize a COMPANY'S solvency or would place the COMPANY in
violation of the insurance laws of any state;
|
7.
|
Determination by the Commissioner that
continuation of the present premium volume of the COMPANY would jeopardize the COMPANY'S
policyholders, creditors or the public;
|
8.
|
Such other reasons that are approved by the Commissioner;
|
9.
|
Determination by the Commissioner that the
COMPANY no longer has adequate reinsurance to meet the ASSUREDS needs;
|
10.
|
Substantial breaches of contractual duties, conditions or
warranties; or
|
a.
|
Bond Number:
|
b.
|
Date of Notice;
|
c.
|
Reason for Cancellation;
|
d.
|
Expiration Date of the Bond;
|
e.
|
Effective Date and Hour of Cancellation.
|
1.
|
It is further understood and agreed that for the purposes of
Section 13., Termination, any occurrence listed in this Section shall be considered to be a request by the ASSURED to
immediately terminate this Bond.
|
Date: October 25, 2022
|
By
|
|
Authorized Representative
|
(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,
|
|
|
|
Authorized Representative
|
C.
|
Additional Offices or Employees-Consolidation, Merger or
Purchase or Acquisition Of Assets or Liabilities-Notice To Company
|
(1)
|
occurred or will occur on premises,
|
(2)
|
been caused or will be caused by an employee, or
|
(3)
|
arisen or will arise out of the
assets or liabilities, of such institution, unless the ASSURED:
|
a.
|
gives the COMPANY written notice of the proposed
consolidation, merger or purchase or acquisition of assets or liabilities prior to the
proposed effective date of such action, and
|
b.
|
obtains the written consent of the COMPANY to extend some
or all of the coverage provided by this Bond to such additional exposure, and
|
c.
|
on obtaining such consent, pays to the COMPANY an
additional premium.
|
i.
|
the assets shall not exceed
$1,000,000,000,
|
ii.
|
there shall be neither any paid nor pending Bond claim
for the three (3) year period prior to the date of acquisition, and
|
iii.
|
the ASSURED is not aware of any disciplinary action or
proceeding by State or Federal officials involving the acquired institution as of the
date of acquisition.
|
Date: October 25, 2022
|
By
|
|
Authorized Representative
|
6.
|
Discovery
|
a.
|
facts which may subsequently result in a loss of a type covered
by this Bond, or
|
b.
|
an actual or potential claim in which it
is alleged that the ASSURED is liable to a third party,
|
Date: October 25, 2022
|
By
|
|
Authorized Representative
|
|
|
|
Authorized Representative
|
1.
|
“Employee” as
used in the attached bond shall include any
natural person who is a director or trustee of
the Insured while such director or trustee is
engaged in handling funds or other property of
any Employee Welfare or Pension Benefit Plan
owned, controlled or operated by the Insured
or any natural person who is a trustee,
manager, officer or employee of any such Plan.
|
2.
|
If the bond,
in accordance with the agreements, limitations
and conditions thereof, covers loss sustained
by two or more Employee Welfare or Pension
Benefit Plans or sustained by any such Plan in
addition to loss sustained by an Insured other
than such Plan, it is the obligation of the
Insured or the Plan Administrator(s) of such
Plans under Regulations published by the
Secretary of Labor implementing Section 13 of
the Welfare and Pension Plans Disclosure Act
of 1958 to obtain under one or more bonds
issued by one or more Insurers an amount of
coverage for each such Plan at least equal to
that which would be required if such Plans
were bonded separately.
|
3.
|
In compliance
with the foregoing, payment by the Company in
accordance with the agreements, limitations
and conditions of the bond shall be held by
the Insured, or, if more than one, by the
Insured first named, for the use and benefit
of any Employee Welfare or Pension Benefit
Plan sustaining loss so covered and to the
extent that such payment is in excess of the
amount of coverage required by such
Regulations to be carried by said Plan
sustaining such loss, such excess shall be
held for the use and benefit of any other such
Plan also covered in the event that such other
Plan discovers that it has sustained loss
covered thereunder.
|
4.
|
If money or other property of two or
more Employee Welfare or Pension Benefit Plans
covered under the bond is commingled, recovery
for loss of such money or other property
through fraudulent or dishonest acts of
Employees shall be shared by such Plans on a
pro rata basis in accordance with the amount
for which each such Plan is required to carry
bonding coverage in accordance with the
applicable provisions of said Regulations.
|
5.
|
The Deductible Amount of this
bond applicable to loss sustained by a Plan through acts committed by an Employee of
the Plan shall be waived, but only up to an amount equal to the amount of coverage
required to be carried by the Plan because of compliance with the provisions of the
Employee Retirement Income Security Act of 1974.
|
6.
|
Nothing herein contained shall be held to vary,
alter, waive or extend any of the terms, conditions, provisions, agreements or
limitations of the bond, other than as stated herein.
|
7.
|
This rider is effective as of 12:01 a.m. on November 1, 2021.
|
Date: October 25, 2022
|
By
|
|
Authorized Representative
|
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:
|
|
|
|
Authorized Representative
|
1.
|
The first two paragraphs are
deleted and replaced with the following:
|
2.
|
The last paragraph is deleted and
replaced with the following:
|
|
|
|
Authorized Representative
|
1. |
The NAME OF ASSURED, as set forth on the DECLARATIONS of
this Bond, shall include any newly created, merged,
consolidated or terminated registered investment company
sponsored by an ASSURED or any newly created portfolio of an
ASSURED. Provided, however, that this provision shall not
apply to a registered investment company that is created as
a result of a merger, consolidation or acquisition with any
other registered investment company.
|
|
|
|
Authorized
Representative
|
|
|
|
Authorized Representative
|
Date:
October 25, 2022
|
By
|
|
Authorized
Representative
|
|
|
|
Authorized
Representative
|
1.
|
At the
written
request of the
Named ASSURED,
any payment in
satisfaction
of loss
covered by
this Bond
involving
money,
securities or
other Property
in
which The
Office of the
City Attorney
has an
interest shall
be paid by an
instrument
issued to that
organization
and the Named
ASSURED as
Joint
Loss-Payees,
subject to the
following
conditions and
limitations:
|
a.
|
The
attached Bond
is for the
sole use and
benefit of the
Named ASSURED
as expressed
herein. The
organization
named above
shall not be
considered as
an ASSURED
under this
Bond, nor
shall it
otherwise have
any rights or
benefits under
said Bond.
|
b.
|
Notwithstanding
any payment
made under the
terms of this
Endorsement or
the execution
of more than
one of such
similar
Endorsement,
the amount
paid for any
one loss
occurrence or
otherwise in
accordance
with the terms
of this bond
shall not
exceed the
LIMIT OF
LIABILITY as
set forth in
the
DECLARATIONS.
|
c.
|
Nothing
herein is
intended to
alter the
terms,
conditions and
limitations of
this Bond.
|
2.
|
Should
this Bond be
canceled,
reduced,
non-renewed or
restrictively
modified by
the COMPANY,
the COMPANY
will endeavor
to give thirty
(30) days
advance notice
to The Office
of the City
Attorney but
failure to do
so shall not
impair or
delay the
effectiveness
of any such
cancellation,
reduction,
non-renewal or
restrictive
modification,
nor shall the
COMPANY be
held liable in
any way.
|
3.
|
Should
this Bond be
canceled or
reduced at the
request of the
ASSURED, the
COMPANY will
endeavor to
notify The
Office of the
City Attorney
of such
cancellation
or reduction
within ten
|
Date:
October 25,
2022
|
By
|
|
Authorized
Representative
|
1.
|
At the
written
request of the
Named ASSURED,
any payment in
satisfaction
of loss
covered by
this Bond
involving
money,
securities or
other Property
in
which
Teachers'
Retirement
System of
Louisiana
(8401 United
Plaza
Boulevard,
Baton Rouge,
LA 70809-7017)
has an
interest shall
be paid by an
instrument
issued to that
organization
and the Named
ASSURED as
Joint Loss-
Payees,
subject to the
following
conditions and
limitations:
|
a.
|
The
attached Bond
is for the
sole use and
benefit of the
Named ASSURED
as expressed
herein. The
organization
named above
shall not be
considered as
an ASSURED
under this
Bond, nor
shall it
otherwise have
any rights or
benefits under
said Bond.
|
b.
|
Notwithstanding
any payment
made under the
terms of this
Endorsement or
the execution
of more than
one of such
similar
Endorsement,
the amount
paid for any
one loss
occurrence or
otherwise in
accordance
with the terms
of this bond
shall not
exceed the
LIMIT OF
LIABILITY as
set forth in
the
DECLARATIONS.
|
c.
|
Nothing
herein is
intended to
alter the
terms,
conditions and
limitations of
this Bond.
|
2.
|
Should
this Bond be
canceled,
reduced,
non-renewed or
restrictively
modified by
the COMPANY,
the COMPANY
will endeavor
to give thirty
(30) days
advance notice
to Teachers'
Retirement
System of
Louisiana
(8401 United
Plaza
Boulevard,
Baton Rouge,
LA 70809-7017)
but failure to
do so shall
not impair or
delay the
effectiveness
of any such
cancellation,
reduction,
non-renewal or
restrictive
modification,
nor shall the
COMPANY be
held liable in
any way.
|
3.
|
Should
this Bond be
canceled or
reduced at the
request of the
ASSURED, the
COMPANY will
endeavor to
notify
Teachers'
Retirement
System of
Louisiana
(8401 United
Plaza
Boulevard,
Baton Rouge,
LA 70809-7017)
of such
cancellation
or reduction
within ten
(10) business
days after
receipt of
such request,
but failure to
do so shall
not impair or
delay the
effectiveness
of such
cancellation
or reduction,
nor shall the
COMPANY be
held liable in
any way.
|
Date:
October 25,
2022
|
By
|
|
Authorized
Representative
|
1.
|
At the
written
request of the
Named ASSURED,
any payment in
satisfaction
of loss
covered by
this Bond
involving
money,
securities or
other Property
in
which KP
International
Equity Fund
c/o SEI, 1
Freedom Valley
Drive, Oaks PA
19456 has an
interest shall
be paid by an
instrument
issued to that
organization
and the Named
ASSURED as
Joint
Loss-Payees,
subject to the
following
conditions and
limitations:
|
a.
|
The
attached Bond
is for the
sole use and
benefit of the
Named ASSURED
as expressed
herein. The
organization
named above
shall not be
considered as
an ASSURED
under this
Bond, nor
shall it
otherwise have
any rights or
benefits under
said Bond.
|
b.
|
Notwithstanding
any payment
made under the
terms of this
Endorsement or
the execution
of more than
one of such
similar
Endorsement,
the amount
paid for any
one loss
occurrence or
otherwise in
accordance
with the terms
of this bond
shall not
exceed the
LIMIT OF
LIABILITY as
set forth in
the
DECLARATIONS.
|
c.
|
Nothing
herein is
intended to
alter the
terms,
conditions and
limitations of
this Bond.
|
2.
|
Should
this Bond be
canceled,
reduced,
non-renewed or
restrictively
modified by
the COMPANY,
the COMPANY
will endeavor
to give thirty
(30) days
advance notice
to KP
International
Equity Fund
c/o SEI, 1
Freedom Valley
Drive, Oaks PA
19456 but
failure to do
so shall not
impair or
delay the
effectiveness
of any such
cancellation,
reduction,
non-renewal or
restrictive
modification,
nor shall the
COMPANY be
held liable in
any way.
|
3.
|
Should
this Bond be
canceled or
reduced at the
request of the
ASSURED, the
COMPANY will
endeavor to
notify KP
International
Equity Fund
c/o SEI, 1
Freedom Valley
Drive, Oaks PA
19456 of such
cancellation
or reduction
within ten
(10) business
days after
receipt of
such request,
but failure to
do so shall
not impair or
delay the
effectiveness
of such
cancellation
or reduction,
nor shall the
COMPANY be
held liable in
any way.
|
Date:
October 25,
2022
|
By
|
|
Authorized
Representative
|
1.
|
At the
written
request of the
Named ASSURED,
any payment in
satisfaction
of loss
covered by
this Bond
involving
money,
securities or
other Property
in
which KP Large
Cap Equity
Fund c/o/ SEI,
1 Freedom
Valley Drive,
Oaks PA 19456
has an
interest shall
be paid by an
instrument
issued to that
organization
and the Named
ASSURED as
Joint
Loss-Payees,
subject to the
following
conditions and
limitations:
|
a.
|
The
attached Bond
is for the
sole use and
benefit of the
Named ASSURED
as expressed
herein. The
organization
named above
shall not be
considered as
an ASSURED
under this
Bond, nor
shall it
otherwise have
any rights or
benefits under
said Bond.
|
b.
|
Notwithstanding
any payment
made under the
terms of this
Endorsement or
the execution
of more than
one of such
similar
Endorsement,
the amount
paid for any
one loss
occurrence or
otherwise in
accordance
with the terms
of this bond
shall not
exceed the
LIMIT OF
LIABILITY as
set forth in
the
DECLARATIONS.
|
c.
|
Nothing
herein is
intended to
alter the
terms,
conditions and
limitations of
this Bond.
|
2.
|
Should
this Bond be
canceled,
reduced,
non-renewed or
restrictively
modified by
the COMPANY,
the COMPANY
will endeavor
to give thirty
(30) days
advance notice
to KP Large
Cap Equity
Fund c/o/ SEI,
1 Freedom
Valley Drive,
Oaks PA 19456
but failure to
do so shall
not impair or
delay the
effectiveness
of any such
cancellation,
reduction,
non-renewal or
restrictive
modification,
nor shall the
COMPANY be
held liable in
any way.
|
3.
|
Should
this Bond be
canceled or
reduced at the
request of the
ASSURED, the
COMPANY will
endeavor to
notify KP
Large Cap
Equity Fund
c/o/ SEI, 1
Freedom Valley
Drive, Oaks PA
19456 of such
cancellation
or reduction
within ten
(10) business
days after
receipt of
such request,
but failure to
do so shall
not impair or
delay the
effectiveness
of such
cancellation
or reduction,
nor shall the
COMPANY be
held liable in
any way.
|
1.
|
At the
written
request of the
Named ASSURED,
any payment in
satisfaction
of loss
covered by
this Bond
involving
money,
securities or
other Property
in
which Brinker
Capital
Destinations
Trust -
'Proposed
International
Value Equity
Fund' has an
interest shall
be paid by an
instrument
issued to that
organization
and the Named
ASSURED as
Joint
Loss-Payees,
subject to the
following
conditions and
limitations:
|
a.
|
The
attached Bond
is for the
sole use and
benefit of the
Named ASSURED
as expressed
herein. The
organization
named above
shall not be
considered as
an ASSURED
under this
Bond, nor
shall it
otherwise have
any rights or
benefits under
said Bond.
|
b.
|
Notwithstanding
any payment
made under the
terms of this
Endorsement or
the execution
of more than
one of such
similar
Endorsement,
the amount
paid for any
one loss
occurrence or
otherwise in
accordance
with the terms
of this bond
shall not
exceed the
LIMIT OF
LIABILITY as
set forth in
the
DECLARATIONS.
|
c.
|
Nothing
herein is
intended to
alter the
terms,
conditions and
limitations of
this Bond.
|
2.
|
Should
this Bond be
canceled,
reduced,
non-renewed or
restrictively
modified by
the COMPANY,
the COMPANY
will endeavor
to give thirty
(30) days
advance notice
to Brinker
Capital
Destinations
Trust -
'Proposed
International
Value Equity
Fund' but
failure to do
so shall not
impair or
delay the
effectiveness
of any such
cancellation,
reduction,
non-renewal or
restrictive
modification,
nor shall the
COMPANY be
held liable in
any way.
|
3.
|
Should
this Bond be
canceled or
reduced at the
request of the
ASSURED, the
COMPANY will
endeavor to
notify Brinker
Capital
Destinations
Trust -
'Proposed
International
Value Equity
Fund' of such
cancellation
or reduction
within ten
(10) business
days after
receipt of
such request,
but failure to
do so shall
not impair or
delay the
effectiveness
of such
cancellation
or reduction,
nor shall the
COMPANY be
held liable in
any way.
|
1.
|
The
COMPANY will
mark its
records to
indicate that
the Department
of Member
Firms of the
New York Stock
Exchange
located at 11
Wall Street,
New York, NY
10005, is to
be notified
promptly
concerning the
cancellation,
termination or
substantial
modification
of the
attached bond,
whether at the
request of the
ASSURED or the
COMPANY, and
will use its
best efforts
to so notify
said
Department,
but failure to
so notify said
Department
shall not
impair or
delay the
effectiveness
of any such
cancellation,
termination or
modification.
|
2.
|
Should
this Bond be
canceled,
reduced,
non-renewed or
restrictively
modified by
the COMPANY,
the COMPANY
will to give
thirty (30)
days advance
notice to Los
Angeles
Department of
Water and
Power Risk
Management
Section, P.O.
Box 51111,
Room 465, Los
Angeles, CA
90051-5700,
unless an
earlier date
of such
cancelation is
approved by
the Los
Angeles
Department of
Water and
Power Risk
Management
Section.
|
3.
|
Should
this Bond be
canceled or
reduced at the
request of the
ASSURED, the
COMPANY will
notify Los
Angeles
Department of
Water and
Power Risk
Management
Section, P.O.
Box 51111,
Room 465, Los
Angeles, CA
90051-5700, of
such
cancellation
or reduction
within ten
(10) business
days after
receipt of
such request,
unless an
earlier date
of such
cancelation is
approved by
the Los
Angeles
Department of
Water and
Power Risk
Management
Section.
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Authorized Representative
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1 Year MFS Intermediate High In... Chart |
1 Month MFS Intermediate High In... Chart |
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