Common use of AML Program Clause in Contracts

AML Program. Pursuant to section 352 of the USA PATRIOT ACT, JNLD agrees to implement and operate an "AML" Program on behalf of the Trust (the "Trust AML Program") as such Program pertains to shareholder transactions effected through services provided by JNLD. JNLD agrees that the Trust AML Program will be reasonably designed to prevent the Trust from being used for money laundering or the financing of terrorist activities and to achieve and monitor compliance with the applicable requirements of the Bank Secrecy Act (31 U.S.C. xx.xx. 5311 et seq.) and the implementing regulations of the Department of Treasury. JNLD represents that in addition to its obligations to the Trust pursuant to this Agreement it has established and will maintain a written AML Program as required by NASD Conduct Rule 3011.

AML Program. Pursuant to section 352 of the USA PATRIOT ACT, JNLD agrees to implement and operate an "“AML" ” Program on behalf of the Trust (the "“Trust AML Program"”) as such Program pertains to shareholder transactions effected through services provided by JNLD. JNLD agrees that the Trust AML Program will be reasonably designed to prevent the Trust from being used for money laundering or the financing of terrorist activities and to achieve and monitor compliance with the applicable requirements of the Bank Secrecy Act (31 U.S.C. xx.xx. §§ 5311 et seq.) and the implementing regulations of the Department of Treasury. JNLD represents that in addition to its obligations to the Trust pursuant to this Agreement it has established and will maintain a written AML Program as required by NASD Conduct Rule 3011.