August
6, 2024
Andrew Nishimura
Area
Senior Vice President
ARTHUR
J GALLAGHER RISK MNGT SERV
300 S RIVERSIDE PLZ STE 1500
CHICAGO,
IL 60606-6637
| Re: | SRH
Total Return Fund, Inc. |
Mutual
Fund Bond
Policy
Number 652023945
Expiration Date: 09/01/2025
Dear
Andrew,
We
are pleased to enclose Policy Number 652023945 for SRH Total Return Fund, Inc.. We trust that this policy meets with the specifications
outlined in our quotation (number 6335134904). Please review it carefully to confirm this. Should you detect any problem, please
contact me as soon as possible.
If
commissions or other compensation are payable hereunder, Insurance Producer will comply with all applicable federal and state
laws, rules, regulations and/or orders governing disclosure by an agent, broker or producer to an insured or prospective insured
of commissions or other compensation.
We
appreciate the opportunity to do business with SRH Total Return Fund, Inc. and with you. If you should have any comments, questions,
or concerns, please do not hesitate to contact me.
Sincerely,
Mackenzie
Kennedy
Underwriter
(312)
822-2817
mackenzie.kennedy@cna.com
For All the Commitments
You Make®
125 Broad Street, New York, NY 10004
|
Declarations
INVESTMENT
COMPANY FIDELITY BOND
|
CUSTOMER
NUMBER |
|
DATE
ISSUED |
739384 |
08/06/2024 |
POLICY
NUMBER |
COVERAGE
IS PROVIDED BY |
PRODUCER NO.
|
652023945 |
Continental
Insurance Company
(herein
called ‘Underwriter’)
|
702635 |
NAMED
INSURED AND ADDRESS |
PRODUCER |
Item
1. |
SRH
Total Return Fund, Inc. (herein called ‘Insured’)
1700
Broadway
Suite
1850
Denver,
CO 80290 |
ARTHUR
J GALLAGHER RISK MNGT SERV
Andrew
Nishimura
300
S RIVERSIDE PLZ STE 1500
CHICAGO,
IL 60606-6637 |
|
|
|
|
|
| Item
2. | Policy
Period: From 12:01 a.m. on 9/15/2024 to 12:01 a.m. on 9/1/2025 standard time. |
| Item 3. | Limit
of Liability: $ 1,700,000 per Loss. |
Provided,
however that if specific limits, either greater or lesser, are inserted opposite any specified INSURING CLAUSE, such specific
limits shall be applicable to such INSURING CLAUSES in lieu of, and not in addition to, such bond limit. If “NOT COVERED”
is inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE and any other reference to such INSURING CLAUSE
shall be deemed to be deleted from this bond.
INSURING CLAUSE |
LIMIT OF
LIABILITY |
DEDUCTIBLE |
Fidelity - Blanket
Premises
Transit Forgery or Alteration
Securities
Counterfeit Currency Computer Systems Fraud
Voice Initiated Transfer Fraud Uncollectible Items of Deposit
Audit Expense |
$1,700,000
$1,700,000
$1,700,000
$1,700,000
$1,700,000
$1,700,000
$1,700,000
$50,000
$50,000
$50,000 |
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000 |
Provided,
that there shall be no deductible applicable to any loss under INSURING CLAUSE 1. sustained by any Investment Company.
G-131698-Ac
Ed. date 6/98
For All the Commitments
You Make®
125 Broad Street, New York, NY 10004
|
Declarations
INVESTMENT
COMPANY FIDELITY BOND
|
| Item
4. | The
liability of the Underwriter is also subject to the terms of the following endorsements executed simultaneously herewith: |
G-145184-A
Economic & Trade Sanctions Conditions
CNA-95228-XX Cryptocurrency Exclusion Rider
PRO-4144-A Growth in Size Provisions
| Item 5.
| Notice
of claim should be sent to the Underwriter at: |
|
CNA – Claims Reporting P.O.
Box 8317
Chicago,
IL 60680-8317
Fax
Number: 866-773-7504
Email
address: SpecialtyNewLoss@cna.com
|
IN
WITNESS WHEREOF, the Underwriter has caused this bond to be signed by its Chairman and Secretary, at Chicago, Illinois, but the
same shall not be binding upon the Underwriter unless countersigned by a duly authorized representative or attorney-in-fact of
the Underwriter
By: |
|
|
|
|
Attorney-in-fact |
|
Authorized Representative |
|
|
|
|
|
|
|
|
|
|
|
Authorized Representative |
G-131698-Ac
Ed. date 6/98
The
UNDERWRITER, in consideration of the required premium, and in reliance on the APPLICATION and all other statements made and information
furnished to the UNDERWRITER by the INSURED, and subject to the DECLARATIONS made a part of this bond and to all other terms and
conditions of this bond, agrees to pay the INSURED for:
INSURING
CLAUSES
Loss
resulting directly from Larceny or Embezzlement committed by any Employee, alone or in collusion with others.
Loss
of Property resulting directly from robbery, burglary, common-law or statutory larceny, hold-up, misplacement, mysterious unexplainable
disappearance, damage, destruction or abstraction or removal from the possession, custody or control of the INSURED, while such
Property is lodged or deposited within any offices or premises located anywhere.
Loss
of, or damage to furnishings, fixtures, stationery, supplies, equipment, safes or vaults (but excluding all electronic data processing
equipment) within any of the INSURED’S offices resulting directly from robbery, burglary, common law or statutory larceny
or hold-up of such offices, or attempt thereat, or by vandalism or malicious mischief, or loss through damage to any office resulting
directly from robbery, burglary, common law or statutory larceny or hold-up of such office, or attempts thereat, or to the interior
of any such office by vandalism or malicious mischief, provided, in any event that the INSURED is the owner of such offices, furnishings,
fixtures, stationery, supplies, equipment, safes or vaults or is legally liable for such loss or damage always excepting, however,
a loss or damage through fire.
Loss
of Property resulting directly from robbery, common law or statutory larceny, misplacement, mysterious unexplainable disappearance,
damage to or destruction of, while the Property is in transit anywhere:
| a. | in
an armored motor vehicle, including loading and unloading thereof, |
| b. | in
the custody of a natural person acting as a messenger of the INSURED, 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: |
| II. | securities
issued in registered form which are not endorsed or are restrictively endorsed, or |
| III. | negotiable
instruments not payable to bearer, which are not endorsed or are restrictively endorsed. |
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 1 |
Coverage
under this INSURING CLAUSE begins immediately on the receipt of such Property by the natural person acting as a messenger or Transportation
Company and ends immediately on delivery to the premises of the addressee or to any representative of the addressee located anywhere.
| 4. | FORGERY
OR ALTERATION COVERAGE |
Loss
resulting directly from:
| a. | Forgery
or fraudulent material alteration of, on or in 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 INSURED authorizing or acknowledging the transfer, payment, delivery or receipt
of funds or other Property, which instructions, advices or applications purport to bear
the handwritten signature of any customer of the INSURED, or shareholder or subscriber
to shares of an Investment Company, or of any banking institution, stockbroker or Employee
but which instructions or applications either bear a Forgery or a fraudulent material
alteration without the knowledge and consent of such customer, shareholder, subscriber
to shares, banking institution, stockbroker, or Employee; |
excluding,
however, under this INSURING CLAUSE any loss covered under INSURING CLAUSE 5. of this bond, whether or not coverage for INSURING
CLAUSE 5. is provided for in the DECLARATIONS of this bond.
A
mechanically reproduced facsimile signature is treated the same as a handwritten signature.
| 5. | EXTENDED
FORGERY COVERAGE |
Loss
resulting directly from the INSURED having in good faith, and in the ordinary course of business, whether for its own account
or for the account of others, in any capacity:
| a. | acquired,
accepted or received, sold or delivered, given value, extended credit, or assumed liability
in reliance upon any original Securities, documents or other written instruments which
prove: |
| I. | to
bear a Forgery or fraudulent material alteration, |
| II. | to
have been lost or stolen, or |
| III. | to
be Counterfeit, or |
| b. | guaranteed
in writing or witnessed any signatures upon any transfers, assignments, bills of sale,
powers of attorney, guarantees, endorsements or other obligations upon or in connection
with any Securities, documents or other written instruments which pass or purport to
pass title to them. |
Actual
physical possession, and continued actual physical possession, of such Securities, documents or other written instruments by an
Employee, Custodian, or a Federal or State chartered deposit institution is a condition precedent to the INSURED having relied
on such items. Release or return of such items is an acknowledgment by the INSURED that it no longer relies on such items.
A
mechanically reproduced facsimile signature is treated the same as a handwritten signature.
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 2 |
| 6. | COUNTERFEIT
CURRENCY COVERAGE |
Loss
resulting directly from the receipt by the INSURED, in good faith, of any Counterfeit money orders, currencies or coin of any
country.
| 7. | THREATS
TO PERSONS COVERAGE |
Loss
resulting directly from surrender of Property away from an office of the INSURED as a result of a threat communicated to the INSURED
to do bodily harm to an Employee as defined in paragraphs (1), (2) and (5) of the definition, 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 INSURED who is not involved in such threat, and |
| b. | the
INSURED 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 the INSURING CLAUSE, any Employee of the INSURED, as set forth in the preceding paragraph, shall
be deemed to be an INSURED 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.
| 8. | COMPUTER
SYSTEMS COVERAGE |
Loss
resulting directly from fraudulent entry of data into or change of data elements or programs within the INSURED’S proprietary
Computer System or a Computer System operated or used by the INSURED and declared in the APPLICATION, provided that the fraudulent
entry or change causes:
| a. | Property
to be transferred, paid or delivered, |
| b. | an
account of the INSURED, or of its customer, to be added, deleted, debited, or credited,
or |
| c. | an
unauthorized account or a fictitious account to be debited or credited. |
| 9. | VOICE
INITIATED TRANSACTION COVERAGE |
Loss
resulting directly from a Voice Initiated Transaction directed to the INSURED authorizing the transfer of dividends or redemption
proceeds of Investment Company shares from a Customer’s account, provided such Voice Initiated Transaction was:
| a. | received
at the INSURED’S offices by those Employees of the INSURED specifically authorized
to receive the Voice Initiated Transaction, |
| b. | made
by a person purporting to be a Customer, and |
| c. | made
by said person for the purpose of causing the INSURED 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 Transactions must be received and processed in accordance
with the Designated Procedures outlined in the APPLICATION furnished to the UNDERWRITER.
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 3 |
| 10. | UNCOLLECTIBLE
ITEMS OF DEPOSIT COVERAGE |
Loss
resulting directly from the INSURED 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 said account causes:
| a. | redemption’s
or withdrawals to be permitted, |
| b. | shares
to be issued, or |
from
an account of an Investment Company.
In
order for coverage to apply under this INSURING CLAUSE, the INSURED must hold Items of Deposit for the minimum number of days
stated in the APPLICATION before permitting any redemption’s 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 INSURED’S standard collection procedures have failed.
| 11. | AUDIT
EXPENSE COVERAGE |
Reasonable
expense incurred by the INSURED for that part of an audit or examination required by any governmental regulatory authority or
self-regulatory organization and actually conducted by such authority, organization or their appointee by reason of the discovery
of loss sustained by the INSURED and covered by this bond.
CONDITIONS
AND LIMITATIONS
| A. | GENERAL
EXCLUSIONS APPLICABLE TO ALL INSURING CLAUSES |
This
bond does not directly or indirectly cover:
| (1) | loss
not reported to the UNDERWRITER in writing within thirty (30) days after termination
of this bond as an entirety; |
| (2) | 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. However, this exclusion
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 INSURED of such riot, civil commotion, military, naval
or usurped power, war or insurrection; |
| (3) | loss
resulting from dishonest acts by any member of the Board of Directors or Board of Trustees
of the INSURED who is not an Employee, acting alone or in collusion with others; |
| (4) | loss,
or that part of any loss, resulting solely from any violation by the INSURED or by any
Employee of any law, or rule, or regulation pursuant to any law regulating: |
| a. | the
issuance, purchase or sale of securities, |
| b. | transactions
on security or commodity exchanges or the over-the-counter markets, |
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 4 |
| c. | investment
companies, or |
| (5) | loss
of potential income including, but not limited to, interest and dividends not realized
by the INSURED or by any customer of the INSURED; |
| (6) | loss
resulting from indirect or consequential loss of any nature; |
| (7) | damages
of any type for which the INSURED is legally liable, except compensatory damages (but
not multiples thereof) arising from a loss covered under this bond; |
| (8) | loss
resulting from the effects of nuclear fission or fusion or radioactivity; |
| (9) | loss
resulting from the theft of confidential information, material or data; |
| (10) | costs,
fees and expenses incurred by the INSURED in establishing the existence or amount of
loss under this bond, provided however, this EXCLUSION shall not apply to INSURING CLAUSE
11.; |
| (11) | loss
resulting from voice requests or instructions received over the telephone, provided however,
this EXCLUSION shall not apply to INSURING CLAUSE 7. or 9. |
| B. | SPECIFIC
EXCLUSIONS APPLICABLE TO ALL INSURING CLAUSES EXCEPT INSURING CLAUSE 1. |
This
bond does not directly or indirectly cover:
| (1) | loss
caused by an Employee, provided, however, this EXCLUSION shall not apply to loss covered
under INSURING CLAUSE 2. or 3. which results directly from misplacement, mysterious unexplainable
disappearance, or damage to or destruction of Property; |
| (2) | loss
through the surrender of Property away from an office of the INSURED as a result of a
threat: |
| a. | to
do bodily harm to any person, except loss of Property in transit in the custody of any
person acting as messenger of the INSURED, provided that when such transit was initiated
there was no knowledge by the INSURED of any such threat, and provided further that this
EXCLUSION shall not apply to INSURING CLAUSE 7., or |
| b. | to
do damage to the premises or property of the INSURED; |
| (3) | loss
involving Items of Deposit which are not finally paid for any reason provided however,
that this EXCLUSION shall not apply to INSURING CLAUSE 10.; |
| (4) | loss
resulting from payments made or withdrawals from any account involving erroneous credits
to such account; |
| (5) | loss
of Property while in the mail: |
| (6) | loss
of Property while in the custody of a Transportation Company, provided however, that
this EXCLUSION shall not apply to INSURING CLAUSE 3.; |
| (7) | 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 INSURED
provided further that this EXCLUSION
shall not apply to loss of Property resulting directly from robbery, burglary, hold-up, misplacement, mysterious unexplainable
disappearance, damage, destruction or abstraction from the possession, custody or control of the INSURED. |
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 5 |
| C. | EXCLUSIONS
APPLICABLE TO ALL INSURING CLAUSES EXCEPT INSURING CLAUSES 1., 4., 5. |
This
bond does not directly or indirectly cover:
| (1) | loss
resulting from forgery or any alteration; |
| (2) | loss
resulting from the complete or partial non-payment of or default on any loan whether
such loan was procured in good faith or through trick, artifice, fraud or false pretenses; |
| (3) | loss
involving a counterfeit provided, however, this EXCLUSION shall not apply to INSURING
CLAUSE 5.
or 6. |
This
bond applies only to loss first discovered by any partner, director, trustee, officer or supervisory employee of the INSURED during
the BOND PERIOD. Discovery occurs at the earlier of such individuals 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 INSURED 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. |
| 3. | NOTICE
TO UNDERWRITER - PROOF - LEGAL PROCEEDINGS AGAINST UNDERWRITER |
| a. | At
the earliest practicable moment, not to exceed thirty (30) days after discovery of loss,
the INSURED shall give the UNDERWRITER notice thereof. |
| b. | Within
six (6) months after such discovery, the INSURED shall furnish to the UNDERWRITER proof
of loss, duly sworn to, with full particulars. |
| 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 UNDERWRITER
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 INSURED. No claim, suit, action or legal proceedings
shall be brought under this bond by anyone other than the INSURED. |
| 4. | LIMIT
OF LIABILITY/NON - REDUCTION AND NON-ACCUMULATION OF LIABILITY |
At
all times prior to termination of this bond, this bond shall continue in force for the limit stated in the applicable sections
of ITEM 3. of the DECLARATIONS, notwithstanding any previous loss for which the UNDERWRITER may have paid or be liable to pay
under this bond provided, however, that the liability of the UNDERWRITER 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 |
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 6 |
| 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 |
| 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 3. of the DECLARATIONS of this
bond irrespective of the total amount of such loss or losses and shall not be cumulative in amounts from year to year or 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.
The
UNDERWRITER 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 INSURED, other than from any bond or policy
of insurance issued by an insurance company and covering such loss, or by the UNDERWRITER on account thereof prior to payment
by the UNDERWRITER of such loss, shall exceed the DEDUCTIBLE AMOUNT set forth in ITEM 4. of the DECLARATIONS, and then for such
excess only, but in no event for more than the applicable LIMIT OF LIABILITY stated in ITEM 3. of the DECLARATIONS.
There
shall be no deductible applicable to any loss under INSURING CLAUSE 1. sustained by any Investment Company.
| 6. | COURT
COSTS AND ATTORNEYS’ FEES |
The
UNDERWRITER will indemnify the INSURED for court costs and reasonable attorneys’ fees incurred and paid by the INSURED in
defense, whether or not successful, whether or not fully litigated on the merits and whether or not settled, of any claim, suit
or legal proceeding with respect to which the INSURED would be entitled to recovery under this bond. However, with respect to
INSURING CLAUSE 1. this Section shall only apply in the event that:
| a. | an
Employee admits to being guilty of Larceny or Embezzlement, |
| b. | an
Employee is adjudicated to be guilty of Larceny or Embezzlement, or |
| c. | in
the absence of a. or b. above, an arbitration panel agrees, after a review of an agreed
statement of facts between the UNDERWRITER and the INSURED, that an Employee would be
found guilty of Larceny or Embezzlement if such Employee were prosecuted. |
The
INSURED shall promptly give notice to the UNDERWRITER of any such suit or legal proceeding and at the request of the UNDERWRITER
shall furnish copies of all pleadings and pertinent papers to the UNDERWRITER. The UNDERWRITER may, at its sole option, elect
to conduct the defense of all or part of such legal proceeding. The defense by the UNDERWRITER shall be in the name of the INSURED
through attorneys selected by the UNDERWRITER. The INSURED shall provide all reasonable information and assistance as required
by the UNDERWRITER for such defense.
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 7 |
If
the amount demanded in any such suit or legal proceeding is greater than the LIMIT OF LIABILITY stated in ITEM 3. of the DECLARATIONS
for the applicable INSURING CLAUSE, or if a DEDUCTIBLE AMOUNT is applicable, or both, the UNDERWRITER’S liability for court
costs and attorneys’ fees incurred in defending all or part of such legal proceeding is limited to the proportion of such
court costs and attorneys’ fees incurred that the LIMIT OF LIABILITY stated in ITEM 3. of the DECLARATIONS for the applicable
INSURING CLAUSE bears to the total of the amount demanded in such suit or legal proceeding.
Amounts
paid by the UNDERWRITER for court costs and attorneys’ fees shall be in addition to the LIMIT OF LIABILITY stated in ITEM
3. of the DECLARATIONS.
If
the UNDERWRITER declines to defend the INSURED, no settlement without the prior written consent of the UNDERWRITER nor judgment
against the INSURED shall determine the existence, extent or amount of coverage under this bond, and the UNDERWRITER shall not
be liable for any costs, fees and expenses incurred by the INSURED.
The
value of any loss of Property other than books of account or other records used by the INSURED 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 INSURED with the consent of the UNDERWRITER
and prior to the settlement of any claim for such Property shall be 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.
The
value of any loss of Property consisting of books of account or other records used by the INSURED in the conduct of its business
shall be the amount paid by the INSURED 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 INSURED for the actual transcription or copying of data to reproduce such
books of account or other records.
| 8. | VALUATION
OF PREMISES AND FURNISHINGS |
In
the case of loss or damage to any office of the INSURED or to the furnishings, fixtures, stationery, supplies, equipment, safes
or vaults, the UNDERWRITER shall not be liable for more than the actual cash value thereof, or for more than the actual cost of
replacement or repair. The UNDERWRITER may, at its election, pay such actual cash value or make such replacement or repair. If
the UNDERWRITER and the INSURED cannot agree upon the actual cash value or the cost of replacement or repair, it shall be determined
by arbitration.
In
the event of a loss of securities covered under this bond, the UNDERWRITER may, at its sole discretion, purchase replacement securities,
tender the value of the securities in money, or issue its indemnity to effect replacement securities.
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 8 |
The
indemnity required from the INSURED under the terms of this Section against all loss, cost or expense arising from the replacement
of securities by the UNDERWRITER’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 a., b., and c. above is the value in accordance with SECTION 7., VALUATION OF PROPERTY, regardless of the
value of such securities at the time the loss under the UNDERWRITER’S indemnity is sustained.
The
UNDERWRITER is not required to issue its indemnity for any portion of a loss of securities which is not covered by this bond;
however, the UNDERWRITER may do so as a courtesy to the INSURED and at its sole discretion.
The
INSURED shall pay the proportion of the UNDERWRITER’S premium charge for the UNDERWRITER’S indemnity as set forth
in a., b., and c. above. No portion of the LIMIT OF LIABILITY shall be used as payment of premium for any indemnity purchased
by the INSURED to obtain replacement securities.
| 10. | SUBROGATION
- ASSIGNMENT-RECOVERY |
In
the event of a payment under this bond, the UNDERWRITER shall be subrogated to all of the INSURED’S rights of recovery against
any person or entity to the extent of such payment. On request, the INSURED shall deliver to the UNDERWRITER an assignment of
the INSURED’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 UNDERWRITER or by the INSURED, shall be applied net of the expense of such recovery, first to the satisfaction
of the INSURED’S loss which would otherwise have been paid but for the fact that it is in excess of the applicable LIMIT
OF LIABILITY, second, to the UNDERWRITER in satisfaction of amounts paid in settlement of the INSURED’S claim and third,
to the INSURED in satisfaction of the applicable DEDUCTIBLE AMOUNT. Recovery from reinsurance and/or indemnity of the UNDERWRITER
shall not be deemed a recovery under this section.
| 11. | COOPERATION
OF INSURED |
At
the UNDERWRITER’S request and at reasonable times and places designated by the UNDERWRITER the INSURED shall submit to examination
by the UNDERWRITER and subscribe to the same under oath, produce for the UNDERWRITER’S examination all pertinent records,
and cooperate with the UNDERWRITER in all matters pertaining to the loss.
The
INSURED shall execute all papers and render assistance to secure to the UNDERWRITER the rights and causes of action provided for
under this bond. The INSURED shall do nothing after loss to prejudice such rights or causes of action.
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 9 |
Coverage
under this bond shall apply only as excess over any valid and collectible insurance, indemnity or suretyship obtained by or on
behalf of the INSURED, a Transportation Company, or another entity on whose premises the loss occurred or which employed the person
causing the loss or engaged the messenger conveying the Property involved.
| 13. | ADDITIONAL
COMPANIES INCLUDED AS INSURED |
If
more than one corporation, or Investment Company, or any combination of them is included as the INSURED herein:
| a. | The
total liability of the UNDERWRITER 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 UNDERWRITER would
be liable under this bond if all such losses were sustained by any one of them. |
| b. | Only
the first named INSURED 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 UNDERWRITER 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 INSURED and notification of the terms of the
settlement of each such claim prior to the execution of such settlement. |
| c. | The
UNDERWRITER shall not be responsible for the proper application of any payment made hereunder
to the first named INSURED. |
| d. | Knowledge
possessed or discovery made by any partner, director, trustee, officer or supervisory
employee of any INSURED shall constitute knowledge or discovery by all the INSUREDS for
the purposes of this bond. |
| e. | If
the first named INSURED ceases for any reason to be covered under this bond, then the
INSURED next named shall thereafter be considered as the first named INSURED for the
purpose of this bond. |
| 14. | ADDITIONAL
OFFICES OR EMPLOYEES - CONSOLIDATION, MERGER OR PURCHASE OR ACQUISITION OF ASSETS OR
LIABILITIES - NOTICE TO UNDERWRITER |
If
the INSURED, 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 INSURED shall not have the coverage afforded under this bond for loss which:
| a. | has
occurred or will occur in offices or on premises, or |
| b. | has
been caused or will be caused by an employee or employees, or |
| c. | has
arisen or will arise out of the assets or liabilities acquired |
unless the INSURED
| i. | gives
the UNDERWRITER 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 |
| ii. | obtains
the written consent of the UNDERWRITER to extend some or all of the coverage provided
by this bond to such additional exposure, and |
| iii. | on
obtaining such consent pays to the UNDERWRITER an additional premium. |
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 10 |
| 15. | CHANGE OF CONTROL - NOTICE TO UNDERWRITER |
When the INSURED 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 INSURED shall within thirty (30) days give written notice to the UNDERWRITER setting forth:
| a. | the names of the transferors and transferees (or the names of the beneficial owners if the voting
securities are registered in another name), |
| b. | the total number of voting securities owned by the transferors and the transferees (or the beneficial
owners), both immediately before and after the transfer, and |
| c. | the total number of outstanding voting securities. |
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.
| 16. | REPRESENTATIONS MADE BY INSURED |
The INSURED 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 INSURED must promptly
notify the UNDERWRITER of any change in any fact or circumstance which materially affects the risk assumed by the UNDERWRITER under
this bond.
Any misrepresentation,
omission, concealment or incorrect statement of a material fact, in the APPLICATION or otherwise, shall be grounds for rescission
of this bond.
| 17. | TERMINATION - CANCELLATION |
If the bond is for a sole
INSURED, it shall not be terminated or canceled 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 or cancellation.
If the bond is for a joint
INSURED, it shall not be terminated or canceled unless written notice shall have been given by the acting party to the affected
party, and by the UNDERWRITER to all INSURED 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 or cancellation.
This bond will terminate as
to any one INSURED, other than an Investment Company, immediately on the taking over of such INSURED by a receiver or other liquidator
or by State or Federal officials, or immediately on the filing of a petition under any State or Federal statute relative to bankruptcy
or reorganization of the INSURED, or assignment for the benefit of creditors of the INSURED, or immediately upon such INSURED ceasing
to exist, whether through merger into another entity, disposition of all of its assets or otherwise.
The UNDERWRITER shall refund
the unearned premium computed at short rates in accordance with the standard short rate cancellation tables if terminated by the
INSURED or pro rata if terminated for any other reason.
Coverage will terminate as to
any Employee:
| a. | immediately on any partner, director, trustee, or officer or supervisory employee not acting in collusion with such
Employee, learning of any dishonest act committed by such Employee at any time, whether in the employment of the
INSURED or otherwise, whether or not such act is of the type covered under this bond, and whether against the INSURED or any other
person or entity, or |
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 11 |
| b. | sixty (60) days after the receipt by each INSURED and by the Securities
and Exchange Commission, Washington, D.C., of a written notice from the UNDERWRITER of its desire to terminate this bond as to
such Employee. |
| 18. | CHANGE OR MODIFICATION |
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 UNDERWRITER.
If this bond is for a sole
INSURED, no change or modification which would adversely affect the rights of the INSURED 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.
If this bond is for a joint
INSURED, no change or modification which would adversely affect the rights of the INSURED 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 UNDERWRITER.
DEFINITIONS
As used in this bond:
Computer System means:
| 1. | computers, with related peripheral and storage components, wherever located, |
| 2. | systems and applications software, |
| 4. | related communication networks by which data are electronically collected, transmitted, processed,
stored, and retrieved. |
Counterfeit means an
imitation of an actual valid original which is intended to deceive and be taken as the original.
Custodian means the
institution designed by an Investment Company to maintain possession and control of its assets.
Customer means an individual, corporate, partnership
or trust customer shareholder or subscriber of an Investment Company which has a written agreement with the INSURED for Voice Initiated
Transactions.
Employee means:
| 1. | an officer of the INSURED, |
| 2. | a natural person while in the regular service of the INSURED at any of
the INSURED’S offices and compensated directly by the INSURED 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 INSURED 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, |
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 12 |
| 3. | an attorney retained by the INSURED and an employee of such attorney while
either is performing legal services for the INSURED, |
| 4. | a person provided by an employment contractor to perform clerical, premises
maintenance or security duties for the INSURED under the INSURED’S supervision at any of the INSURED’S offices or premises, |
| 5. | an employee of an institution merged or consolidated with the INSURED prior
to the effective date of this bond, |
| 6. | a guest student pursuing studies or performing duties in any of the INSURED’S offices, |
| 7. | each natural person, partnership or corporation authorized by written agreement
with the INSURED 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 INSURED’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 INSURED, |
| 8. | a director or trustee of the INSURED, but only while performing acts within
the scope of the customary and usual duties of any officer or employee of the INSURED 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 INSURED, or |
| 9. | any partner, officer or employee of an investment adviser, 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 adviser 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 4. and 7. above, and upon payment to the INSURED by the UNDERWRITER
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 INSURED’S rights and causes of action as it may have
against such employers by reason of such acts so committed shall, to the extent of such payment, be given by the INSURED to the
UNDERWRITER, and the INSURED shall execute all papers necessary to secure to the UNDERWRITER the rights provided for herein.
Each employer of persons
as set forth in 3., 4. and 7. 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 last paragraph of Section 18.
Independent contractors
not specified in 3., 4., and 7. above, intermediaries, agents, brokers or other representatives of the same general character shall
not be considered Employees.
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 13 |
Forgery means the
signing of the name of another person or organization 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.
Investment Company means
an investment company registered under the Investment Company Act of 1940 and as listed under the NAME OF INSURED on the DECLARATIONS.
Items of Deposit
means one or more checks or drafts drawn upon a financial institution in the United States of America.
Larceny or Embezzlement
means larceny or embezzlement as set forth in Section 37 of the Investment Company Act of 1940.
Property means money
(i.e., currency, coin, bank notes, or Federal Reserve notes); postage and revenue stamps; U.S. Savings 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 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, mortgages and instruments; other valuable papers, including
books of accounts and other records used by the INSURED 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 INSURED acquired an interest at
the time of the INSURED’S consolidation or merger with, or purchase of the principal assets of, a predecessor or which are
held by the INSURED for any purpose or in any capacity and whether so held gratuitously or not and whether or not the INSURED is
liable therefor.
Relative means the
spouse of an Employee or partner of the INSURED 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.
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.
Transportation Company
means any organization which provides its own or leased vehicles for transportation or which provides freight forwarding or
air express services.
Voice Initiated Election
means any election concerning dividend options available to Investment Company shareholders or subscribers which is requested by
voice over the telephone.
Voice Initiated Redemption
means any redemption of shares issued by an Investment Company which is requested by voice over the telephone.
Voice Initiated Transaction(s)
means any Voice Initiated Redemption or Voice Initiated Election.
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 14 |
|
|
Chairman |
Secretary |
G-131697-A (ED. 06/98) | Copyright © CNA All Rights Reserved. | 15 |
THIS ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
ECONOMIC AND TRADE SANCTIONS CONDITION
The following condition is added
to the Policy:
ECONOMIC AND TRADE SANCTIONS
CONDITION
In accordance with laws and
regulations of the United States concerning economic and trade embargoes, this policy is void from its inception with respect to
any term or condition of this policy that violates any laws or regulations of the United States concerning economic and trade embargoes
including, but not limited to the following:
1. | Any insured under this Policy, or any person or entity claiming the benefits of such insured,
who is or becomes a Specially Designated National or Blocked Person or who is otherwise subject to U.S. economic or trade sanctions; |
2. | Any claim or suit that is brought in a Sanctioned Country or by a Sanctioned Country Government,
where any action in connection with such claim or suit is prohibited by U.S. economic or trade sanctions; |
3. | Any claim or suit that is brought by any Specially Designated National or Blocked Person or
any person or entity who is otherwise subject to U.S. economic or trade sanctions; |
4. | Property that is located in a Sanctioned Country or that is owned by, rented to or in the care,
custody or control of a Sanctioned Country Government, where any activities related to such property are prohibited by U.S. economic
or trade sanctions; or |
5. | Property that is owned by, rented to or in the care, custody or control of a Specially Designated
National or Blocked Person, or any person or entity who is otherwise subject to U.S. economic or trade sanctions. |
As used in this endorsement
a Specially Designated National or Blocked Person is any person or entity that is on the list of Specially Designated Nationals
and Blocked Persons issued by the U.S. Treasury Department’s Office of Foreign Asset Control (O.F.A.C.) as it may be from
time to time amended.
As used in this endorsement
a Sanctioned Country is any country that is the subject of trade or economic embargoes imposed by the laws or regulations of the
United States of America.
ENDORSEMENT NUMBER:
1
POLICY NUMBER: 652023945
ISSUED TO: SRH Total Return Fund, Inc.
EFFECTIVE
DATE OF ENDORSEMENT: 09/15/2024
This endorsement, which forms a part of and is for
attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated
in said Policy and expires concurrently with said Policy unless another effective date is shown above.
By Authorized
Representative _________________________________________________________________
(No signature
is required if this endorsement is issued with the Policy or if it is effective on the Policy Effective Date)
G-145184-A (Ed. 6/03)
CRYPTOCURRENCY EXCLUSION
RIDER
In consideration of the premium, Paragraph A. General
Exclusions Applicable to All Insuring Clauses of Section 1, Exclusions set forth in the CONDITIONS AND LIMITATIONS of the bond
is amended to add the following:
This bond does not directly
or indirectly cover loss resulting from the theft, destruction, disappearance, misplacement, or change in value of any virtual
or digital currency in which cryptography or other encryption security techniques are used to regulate the generation of units
of currency and/or verify the transfer of funds, operating independently of a central bank, including when such virtual or digital
currency cannot be retrieved or accessed for any reason.
All other terms and conditions of the Bond remain unchanged.
This rider, which forms a part of and is for attachment to the Bond issued by the designated Insurers, takes effect on the effective date of said Bond at the hour stated in said Bond, unless another effective date is shown below, and expires concurrently with said Bond. |
CNA95228XX (3-19) |
Policy No: |
652023945 |
Page 1 |
Endorsement No: |
2 |
Continental Insurance Company |
Effective Date: |
09/15/2024 |
Insured Name: SRH Total Return Fund, Inc. |
|
|
©
CNA All Rights Reserved.
INVESTMENT
COMPANY BOND
GROWTH IN SIZE PROVISIONS
In
consideration of the premium paid, it is understood and agreed that CONDITIONS AND LIMITATIONS, Section
14. ADDITIONAL OFFICES OR EMPLOYEES – CONSOLIDATION, MERGER OR PURCHASE OR ACQUISITION OF ASSETS OR LIABILITIES
– NOTICE TO UNDERWRITER is amended by the addition of the following:
If an INSURED, other than
an Investment Company as defined in the Policy, merges or consolidates with or purchases or acquires assets or liabilities of another
entity, there is no coverage under this bond for loss which involves any assets or employees acquired as a result of that transaction
unless the INSURED gives the UNDERWRITER written notice of the proposed transaction prior to its proposed effective date and obtains
the written consent of the UNDERWRITER to include those assets or employees under this bond and pays the UNDERWRITER any additional
premium charged.
If an INSURED creates, other
than by acquisition, a new investment company required by the SEC Reg 17g-1 to have coverage of the type afforded by this bond,
that investment company will be automatically insured hereunder, provided that the total combined limit of liability for all INSURED
covered hereunder, as required by SEC Reg 17g-1, including the newly created investment company does not exceed $1,875,000.
If the coverage required for the newly created investment company will exceed that limit, no coverage will be provided hereunder
for the investment company without the written consent of the UNDERWRITER.
If an Investment Company requires
an increase in limits to comply with SEC Reg. 17g-1 due to an increase in asset size, whether by growth of current funds insured
under the bond or by the addition of new funds, that increase in limits shall take place automatically and will be covered until
the next Annual Period without payment of additional premium, provided that the total combined limit of liability for all INSUREDS
under this bond does not exceed $1,875,000 after including the increase
in limits needed due to the increase in asset size. If the increase in limits needed as a result of the increase in assets will
exceed $1,875,000, then the increase will not occur unless written
consent of the UNDERWRITER is obtained.
Within 15 days of the end
of each Annual Period, each Investment Company insured hereunder shall advise the UNDERWRITER, in writing, of its current asset
size as of the conclusion of that Annual Period and shall pay to the UNDERWRITER any additional premium required by it for any
newly created investment companies or any increase in limits that will carry into the current Annual Period.
This endorsement, which forms
a part of and is for attachment to the following described Policy issued by the designated Insurers takes effect on the effective
date of said Policy, unless another effective date is shown below, at the hour stated in said Policy and expires concurrently with
said Policy.
Must be Completed
|
ENDT. NO.
3
|
POLICY NO.
652023945
|
Complete Only When This Endorsement Is Not Prepared with the Policy
or is Not to be Effective with the Policy |
ISSUED TO |
EFFECTIVE DATE OF
THIS ENDORSEMENT |
|
Countersigned by |
|
|
|
Authorized Representative |
CNA INSURANCE COMPANIES | Page 1 of 2 |
PRO-4144-A | |
(ED. 01/00) | |
DEFINITIONS
Annual Period means each consecutive twelve month
period commencing on the effective date of this bond.
This endorsement, which forms
a part of and is for attachment to the following described Policy issued by the designated Insurers takes effect on the effective
date of said Policy, unless another effective date is shown below, at the hour stated in said Policy and expires concurrently with
said Policy.
Must be Completed
|
ENDT. NO.
3
|
POLICY NO.
652023945
|
Complete Only When This Endorsement Is Not Prepared with the Policy
or is Not to be Effective with the Policy |
ISSUED TO |
EFFECTIVE DATE OF
THIS ENDORSEMENT |
|
Countersigned by |
|
|
|
Authorized Representative |
CNA INSURANCE COMPANIES | Page 2 of 2 |
PRO-4144-A | |
(ED. 01/00) | |
APPROVAL
OF FIDELITY BOND
| WHEREAS: | After
full consideration of such information as the Board of Directors (the “Board”)
of SRH Total Return Fund, Inc. (the “Fund”) deems appropriate, including
the value of the aggregate assets of the Fund to which any person covered under the Bond
may have access, the custody and safekeeping of the assets of the Fund's portfolio and
the nature of the securities in the Fund's portfolio, the Board has determined that the
Bond (as defined below) covering officers and employees of the Fund, in accordance with
the requirements of Rule 17g-1 under the Investment Company Act of 1940, as amended (the
“1940 Act”), is fair and reasonable in form and amount; now therefore it is |
| RESOLVED: | That
the approval of the fidelity bond coverage for the period beginning at 12:01 a.m. on
September 15, 2024 to 12:01 a.m. on September 15, 2025, which provides coverage in the
aggregate amount of $1,700,000 (the “Bond”), is hereby approved; and further |
| RESOLVED: | That
the premium of $2,400 be, and it hereby is, confirmed and authorized by vote of a majority
of the Board (all Directors voting) and separately by a majority of the Directors who
are not “interested persons” of the Fund (the “Independent Directors”)
within the meaning of Section 2(a)(19) of the 1940 Act; and further |
| RESOLVED: | That
the Bond be, and it hereby is approved by vote of a majority of the Board (all Directors
voting) and separately by a majority of the Independent Directors; and further |
| RESOLVED: | That
the appropriate officers of the Fund 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 from time to time be necessary or appropriate in
order to conform to the provisions of the 1940 Act and the rules and regulations under
that Act; and further |
| RESOLVED: | That
the Secretary of the Fund shall make such filings concerning the Bond with the U.S. Securities
and Exchange Commission (the “SEC”) and give such notices as required under
paragraph (g) of Rule 17g-1 promulgated by the SEC under the 1940 Act. |