Agency Shop Pursuant to the ▇▇▇▇▇▇-▇▇▇▇▇▇-▇▇▇▇▇ Act, Government Code Section 3502.5, employees covered by this Memorandum of Understanding (MOU) shall, as a condition of continuing employment, become a member of the Union or shall pay a service fee in lieu of membership dues. Such dues or service fees are as set in accordance with the bylaws of the Union. Any employee hired, promoted, demoted or transferred into a position subject to this MOU shall be provided, by the County, with a Notice of Agency Shop Provision during their first pay period of employment advising the employee of the agency shop agreement with the Union and of the requirement that all employees subject to the MOU must either join the Union or pay a service fee in lieu of membership dues to the Union unless the employee claims a religious exemption. The County shall automatically deduct the service fee established by the Union no later than the first pay period following the date of hire, promotion, demotion, or transfer unless the employee has provided a dues deduction form electing membership in the Union, or the employee has provided verification of the religious exemption. If the employee has not properly completed the authorization form of his/her choice and returned said form to the Auditor Controller/Treasurer-Tax Collector’s Office, the County shall continue to automatically deduct the service fee and thereafter until such time as the employee has provided a dues deduction form electing membership in the Union or the employee has provided verification of the religious exemption to the Auditor Controller/Treasurer-Tax Collector’s Office. If a current employee is promoted, demoted or transferred into a position in another SEIU represented bargaining unit that is subject to an Agency Shop provision, the employee’s current deduction status will continue (Union dues, service fee, religious exemption fee, or non-germane objector’s fee).
Portfolio Security Portfolio Security will mean any security owned by the Fund.
DEPOSIT OF FUND ASSETS WITH THE UNDERLYING TRANSFER AGENT Underlying Shares beneficially owned by the Fund, on behalf of a Portfolio, shall be deposited and/or maintained in an account or accounts maintained with an Underlying Transfer Agent and the Custodian’s only responsibilities with respect thereto shall be limited to the following: 1) Upon receipt of a confirmation or statement from an Underlying Transfer Agent that such Underlying Transfer Agent is holding or maintaining Underlying Shares in the name of the Custodian (or a nominee of the Custodian) for the benefit of a Portfolio, the Custodian shall identify by book-entry that such Underlying Shares are being held by it as custodian for the benefit of such Portfolio. 2) In respect of the purchase of Underlying Shares for the account of a Portfolio, upon receipt of Proper Instructions, the Custodian shall pay out monies of such Portfolio as so directed, and record such payment from the account of such Portfolio on the Custodian’s books and records. 3) In respect of the sale or redemption of Underlying Shares for the account of a Portfolio, upon receipt of Proper Instructions, the Custodian shall transfer such Underlying Shares as so directed, record such transfer from the account of such Portfolio on the Custodian’s books and records and, upon the Custodian’s receipt of the proceeds therefor, record such payment for the account of such Portfolio on the Custodian’s books and records. The Custodian shall not be liable to the Fund for any loss or damage to the Fund or any Portfolio resulting from the maintenance of Underlying Shares with an Underlying Transfer Agent except for losses resulting directly from the fraud, negligence or willful misconduct of the Custodian or any of its agents or of any of its or their employees.
E7 Security The Authority shall be responsible for maintaining the security of the Authority premises in accordance with its standard security requirements. The Contractor shall comply with all security requirements of the Authority while on the Authority premises, and shall ensure that all Staff comply with such requirements.
Deposit of Fund Assets in U.S. Securities Systems The Custodian may deposit and/or maintain securities owned by a Portfolio in a U.S. Securities System in compliance with the conditions of Rule 17f-4 under the 1940 Act, as amended from time to time.