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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Tortoise Midstream Energy Fund Inc | NYSE:NTG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.13 | -0.34% | 38.39 | 38.7399 | 38.28 | 38.65 | 10,527 | 01:00:00 |
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TORTOISE MIDSTREAM ENERGY FUND, INC.
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Date: May 11, 2022
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By:
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/s/ P. Bradley Adams
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Name: P. Bradley Adams
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Title: Chief Executive Officer
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LOCKTON COMPANIES, LLC | ||
ATTN: | John Hecker | |
444 W 47TH ST STE 900 | ||
KANSAS CITY, MO 64112 | ||
INSURED: | TORTOISE MIDSTREAM ENERGY FUND, INC | |
PRODUCT: | DFIBond | |
POLICY NO: | 82183338 | |
TRANSACTION: | RENL_CORR |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 1 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 2 of 19 |
Insuring Clauses | ||||||
Extended Forgery | For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile | |||||
(continued) | 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 Relative 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. | ||||||
It is agreed that for purposes of this INSURING CLAUSE, any Employee of the | ||||||
ASSURED, as set forth in the preceding paragraph, shall be deemed to be an | ||||||
ASSURED hereunder, but only with respect to the surrender of money, securities | ||||||
and other tangible personal property in which such Employee has a legal or | ||||||
equitable interest. | ||||||
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 | ) | funds or other property to be transferred, paid or delivered, | ||||
(2 | ) | an account of the ASSURED or of its customer to be added, deleted, | ||||
debited or credited, or | ||||||
(3 | ) | an unauthorized account or a fictitious account to be debited or | ||||
credited. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 3 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 4 of 19 |
General Agreements | ||||
Additional Companies | A. | If more than one corporation, or Investment Company, or any combination of | ||
Included As Assured | 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, trustee, | ||
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 | B. | The ASSURED represents that all information it has furnished in the | ||
Assured | 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. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 5 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 6 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 7 of 19 |
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 supervision | ||||||
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 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 8 of 19 |
Conditions and | ||||
Limitations | ||||
Definitions | (8 | ) | each natural person, partnership or corporation authorized by written | |
(continued) | 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 Larceny or | ||||
Embezzlement committed by any of the partners, officers or | ||||
employees of such employers, whether acting alone or in collusion with | ||||
others, an assignment of such of the 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. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 9 of 19 |
Conditions and | ||
Limitations | ||
Definitions | f. | Forgery means the signing of the name of another natural person with the |
(continued) | 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. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 10 of 19 |
Conditions and | ||||
Limitations | ||||
Definitions | m. | Subsidiary means any organization that, at the inception date of this Bond, | ||
(continued) | 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 - | 2 | . | This bond does not directly or indirectly cover: | |
Applicable to All Insuring | a. | loss not reported to the COMPANY in writing within sixty (60) days after | ||
Clauses | 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; |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 11 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 12 of 19 |
Conditions and | ||||||||
Limitations | ||||||||
Specific Exclusions - | f. | loss resulting from the failure for any reason of a financial or depository | ||||||
Applicable To All Insuring | institution, its receiver or other liquidator to pay or deliver funds or other | |||||||
Clauses Except Insuring | Property to the ASSURED provided further that this Section 3.f. shall not | |||||||
Clause 1. | apply to loss of Property resulting directly from robbery, burglary, | |||||||
(continued) | 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. | ||||||||
Specific Exclusions - | 4 | . | This bond does not directly or indirectly cover: | |||||
Applicable To All Insuring | a. | loss resulting from the complete or partial non-payment of or default on any | ||||||
Clauses Except Insuring | loan whether such loan was procured in good faith or through trick, artifice, | |||||||
Clauses 1., 4., And 5. | fraud or false pretenses; provided, however, this Section 4.a. shall not apply | |||||||
to INSURING CLAUSE 8.; | ||||||||
b. | loss resulting from forgery or any alteration; | |||||||
c. | loss involving a counterfeit provided, however, this Section 4.c. shall not | |||||||
apply to INSURING CLAUSE 5. or 6. | ||||||||
Limit Of Liability/Non- | 5 | . | At all times prior to termination of this Bond, this Bond shall continue in force for | |||||
Reduction And Non- | the limit stated in the applicable sections of ITEM 2. of the DECLARATIONS, | |||||||
Accumulation Of Liability | notwithstanding any previous loss for which the COMPANY may have paid or be | |||||||
liable to pay under this Bond provided, however, that the liability of the COMPANY | ||||||||
under this Bond with respect to all loss resulting from: | ||||||||
a. | any one act of burglary, robbery or hold-up, or attempt thereat, in which no | |||||||
Employee is concerned or implicated, or | ||||||||
b. | any one unintentional or negligent act on the part of any one person | |||||||
resulting in damage to or destruction or misplacement of Property, or | ||||||||
c. | all acts, other than those specified in a. above, of any one person, or |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 13 of 19 |
Conditions and | ||||
Limitations | ||||
Limit Of Liability/Non- | d. | any one casualty or event other than those specified in a., b., or c. above, | ||
Reduction And Non- | shall be deemed to be one loss and shall be limited to the applicable LIMIT OF | |||
Accumulation Of Liability | LIABILITY stated in ITEM 2. of the DECLARATIONS of this Bond irrespective of | |||
(continued) | 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. | ||||
Notice To Company - | 7 | . | a. | The ASSURED shall give the COMPANY notice thereof at the earliest |
Proof - Legal Proceedings | practicable moment, not to exceed sixty (60) days after discovery of loss, in | |||
Against Company | an amount that is in excess of 50% of the applicable DEDUCTIBLE | |||
AMOUNT, as stated in ITEM 2. of the DECLARATIONS. | ||||
b. | The ASSURED shall furnish to the COMPANY proof of loss, duly sworn to, | |||
with full particulars within six (6) months after such discovery. | ||||
c. | Securities listed in a proof of loss shall be identified by certificate or bond | |||
numbers, if issued with them. | ||||
d. | Legal proceedings for the recovery of any loss under this Bond shall not be | |||
brought prior to the expiration of sixty (60) days after the proof of loss is filed | ||||
with the COMPANY or after the expiration of twenty-four (24) months from | ||||
the discovery of such loss. | ||||
e. | This Bond affords coverage only in favor of the ASSURED. No claim, suit, | |||
action or legal proceedings shall be brought under this Bond by anyone | ||||
other than the ASSURED. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 14 of 19 |
Conditions and | ||||
Limitations | ||||
Notice To Company - | f. | Proof of loss involving Voice Initiated Funds Transfer Instruction shall | ||
Proof - Legal Proceedings | include electronic recordings of such instructions. | |||
Against Company | ||||
(continued) | ||||
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 claim 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. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 15 of 19 |
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 – 11. | In the event of a payment under this Bond, the COMPANY shall be subrogated to | |||
Recovery | 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 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 16 of 19 |
Conditions and | ||||
Limitations | ||||
Subrogation - Assignment – | d. | fourth, to the ASSURED in satisfaction of any loss suffered by the | ||
Recovery | ASSURED which was not covered under this Bond. | |||
(continued) | 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: | ||||
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. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 17 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 18 of 19 |
Conditions And | |
Limitations | |
Change or Modification | If this Bond is for a joint ASSURED, no charge or modification which would |
(continued) | adversely affect the rights of the ASSURED shall be effective prior to sixty (60) |
days after written notice has been furnished to all insured Investment Companies | |
and to the Securities and Exchange Commission, Washington, D.C., by the | |
COMPANY. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 19 of 19 |
IMPORTANT NOTICE TO POLICYHOLDERS |
All of the members of the Chubb Group of Insurance companies doing business in the United |
States (hereinafter “Chubb”) distribute their products through licensed insurance brokers and agents |
(“producers”). Detailed information regarding the types of compensation paid by Chubb to producers on |
US insurance transactions is available under the Producer Compensation link located at the bottom of the |
page at www.chubb.com, or by calling 1-866-588-9478. Additional information may be available from your |
producer. |
Thank you for choosing Chubb. |
10-02-1295 (ed. 6/2007)
Important Notice: |
The SEC Requires Proof of Your Fidelity Insurance Policy |
Your company is now required to file an electronic copy of your fidelity insurance coverage |
(Chubb’s ICAP Bond policy) to the Securities and Exchange Commission (SEC), according to |
rules adopted by the SEC on June 12, 2006. |
Chubb is in the process of providing your agent/broker with an electronic copy of your insurance |
policy as well as instructions on how to submit this proof of fidelity insurance coverage to the |
SEC. You can expect to receive this information from your agent/broker shortly. |
The electronic copy of your policy is provided by Chubb solely as a convenience and does not |
affect the terms and conditions of coverage as set forth in the paper policy you receive by mail. |
The terms and conditions of the policy mailed to you, which are the same as those set forth in |
the electronic copy, constitute the entire agreement between your company and Chubb. |
If you have any questions, please contact your agent or broker. |
Form 14-02-12160 (ed. 7/2006)
14-02-9228 (2/2010)
Page 1
FEDERAL INSURANCE COMPANY | |||||
Endorsement No: | 2 | ||||
Bond Number: | 82183338 | ||||
NAME OF ASSURED: TORTOISE MIDSTREAM ENERGY FUND, INC | |||||
TERMINATION-NONRENEWAL-NOTICE ENDORSEMENT | |||||
It is agreed that this Bond is amended as follows: | |||||
1 | . | By adding to Section 13., Termination, the following: | |||
"Termination By The Company | |||||
Bonds In Effect For More Than Sixty (60) Days | |||||
If this Bond has been in effect for more than sixty (60) days, or, if this Bond is a renewal, the | |||||
COMPANY may terminate by providing written notice of cancellation at least sixty (60) days before the | |||||
effective date of termination for at least one of the following reasons: | |||||
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 | |||
11 | . | Unfavorable underwriting facts, specific to the ASSURED, existing that were not present at the | |||
inception of the Bond. |
ICAP Bond | |
Form 17-02-1360 (Rev. 10-99) | Page 1 |
Bonds In Effect Sixty (60) Days Or Less | |
If this Bond has been in effect for sixty (60) days or less, and it is not a renewal Bond, the COMPANY | |
may terminate for any reason by providing written notice of termination at least sixty (60) days before | |
the effective date of termination. | |
Notice Of Termination | |
Notice of termination under this Section shall be mailed or delivered, by certified mail, return receipt | |
provided by the United States Postal Service, to the ASSURED and to the authorized agent or broker, if | |
any, at least sixty (60) days prior to the effective date of cancellation at the address shown on the | |
DECLARATIONS of this Bond. | |
If this Bond is cancelled for nonpayment of premium, the COMPANY will mail or deliver, by certified | |
mail, return receipt provided by the United States Postal Service, a written notice at least thirty (30) | |
days before the effective date of cancellation. The cancellation notice shall contain information | |
regarding the amount of premium due and the due date, and shall state the effect of nonpayment by | |
the due date. Cancellation shall not be effective if payment of the amount due is made prior to the | |
effective date of cancellation. | |
All notice of cancellation shall state the reason(s) for cancellation. | |
There is no liability on the part of, and no cause of action of any nature shall arise against, the | |
COMPANY, its authorized representatives, its employees, or any firm, person or corporation furnishing | |
to the COMPANY, information relating to the reasons for cancellation or nonrenewal, for any statement | |
made by them in complying or enabling the COMPANY to comply with this Section, for the provision of | |
information pertaining thereto, or for statements made or evidence submitted at any hearings | |
conducted in connection therewith, if such information was provided in good faith and without malice. | |
Notice Of Nonrenewal | |
If the COMPANY elects not to renew this Bond, the COMPANY shall mail or deliver written notice, by | |
certified mail, return receipt, provided by the United States Postal Service, to the ASSURED, at his last | |
known address, at least sixty (60) days before the expiration date or before the anniversary date, if this | |
Bond has been written for a term of more than one (1) year. Such notice shall also be mailed to the | |
ASSURED'S agent or broker, if any. | |
Such notice shall contain all of the following: | |
a. | Bond Number: |
b. | Date of Notice; |
c. | Reason for Cancellation; |
d. | Expiration Date of the Bond; |
e. | Effective Date and Hour of Cancellation. |
Notice of nonrenewal shall not be required if the COMPANY or a COMPANY within the same insurance | |
group has offered to issue a renewal Bond, the ASSURED has obtained replacement coverage or has | |
agreed in writing to obtain replacement coverage, the ASSURED has requested or agreed to | |
nonrenewal, or the Bond is expressly designated as nonrenewable. |
ICAP Bond | |
Form 17-02-1360 (Rev. 10-99) | Page 2 |
Return Premium Calculations | ||
Any unearned premiums which have been paid by the ASSURED shall be refunded to the ASSURED | ||
on a pro rata basis if terminated by the COMPANY or the ASSURED. The unearned premiums shall | ||
be refunded to the ASSURED within forty-five (45) days of receipt of the request for cancellation or the | ||
effective date of cancellation, whichever is later. | ||
Conditional Renewal | ||
If the COMPANY offers or purports to renew the Bond, but on less favorable terms or at higher rates, | ||
the new terms or higher premiums may take effect on the renewal date, if the COMPANY mails or | ||
delivers by certified mail, return receipt provided by the United States Postal Service, to the ASSURED, | ||
notice of the new terms or premiums at least sixty (60) days prior to the renewal date. If the | ||
COMPANY notifies the ASSURED within sixty (60) days prior to the renewal date, the new terms or | ||
premiums do not take effect until sixty (60) days after the notice is mailed or delivered, in which case, | ||
the ASSURED may elect to cancel the renewal Bond within the sixty (60) day period. If the COMPANY | ||
does not notify the ASSURED of the new terms or premiums, the COMPANY shall continue the Bond | ||
at the expiring terms and premiums until notice is given or until the effective date of replacement | ||
coverage is obtained by the ASSURED, whichever occurs first.” | ||
2 | . | 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. | ||
This Endorsement applies to loss discovered after 12:01 a.m. on February 25, 2022. | ||
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED. |
Date: March 24, 2022
ICAP Bond | |
Form 17-02-1360 (Rev. 10-99) | Page 3 |
FEDERAL INSURANCE COMPANY | ||
Endorsement No.: 3 | ||
Bond Number: | 82183338 | |
NAME OF ASSURED: TORTOISE MIDSTREAM ENERGY FUND, INC | ||
KANSAS AMENDATORY ENDORSEMENT | ||
It is agreed that this Bond is amended by deleting paragraph d in its entirety from Section 7., Notice-Proof- | ||
Legal Proceedings Against Company, and substituting the following: | ||
"d | Legal proceedings for the recovery of any loss under this Bond shall not be brought prior to the | |
expiration of sixty (60) days after the proof of loss is filed with the COMPANY or after the expiration of | ||
five (5) years from the discovery of such loss." | ||
This Endorsement applies to loss discovered after 12:01 a.m. on February 25, 2022. | ||
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED. |
Date: March 24, 2022
State Amendatory - General Use Form 17-02-1424 (Ed. 1-97)
17-02-2437 (12/2006) rev.
Page 1
MS-307332 (09/2020)
Page 1 of 1
TORTOISE MIDSTREAM ENERGY FUND, INC. |
|||
Date: May 11, 2022
|
By:
|
/s/ Diane Bono |
|
Name: Diane Bono |
|||
Title: Secretary |
|||
1 Year Tortoise Midstream Energy Chart |
1 Month Tortoise Midstream Energy Chart |
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