CUSTODIAN AGREEMENT
THIS AGREEMENT, made as of the 1st day of February, 1996, is by and
between TWENTIETH CENTURY STRATEGIC PORTFOLIOS, INC., a Maryland Corporation
("Corporation") and BOATMEN'S FIRST NATIONAL BANK OF KANSAS CITY, a
nationally-chartered banking association ("Custodian").
1. During the term of this Agreement the Corporation shall maintain one
or more custody accounts (the "Accounts") with the Custodian and shall deposit
in the Accounts all currency, checks, drafts, wired funds and other funds
delivered to the Corporation in Kansas City, Missouri in payment for its shares.
All checks, drafts and similar items shall be endorsed in proper form for
deposit to the Accounts.
2. The Custodian shall provide a courier for delivery of deposits from
the Corporation's office to the Custodian, and the courier shall pick up the
deposits at such times as the Corporation and Custodian may from time to time
agree upon.
3. The Custodian promptly and in a business-like manner shall process
the items so deposited in the Accounts and remit the funds deposited to United
States Trust Company of New York, the Corporation's custodian, for deposit in
Corporation's accounts there. Any funds not remitted by the close of each day
shall be invested for the Corporation's benefit in such manner as the
Corporation and Custodian may from time to time agree upon. All income from such
investments shall be deposited in the Accounts. No funds shall be invested or
otherwise utilized for the benefit of the Custodian.
4. (a) The Custodian shall, no later than 9 a.m. on every day
(Saturdays, Sundays and Holidays excluded), report to the Corporation the
balance in the Accounts and the amounts available for transfer to The Chase
Manhattan Bank, N.A.
(b) The Custodian shall furnish monthly bank statements of the
Accounts in the usual form.
(c) At least monthly the Custodian shall provide the Corporation
with an account analysis showing average ledger and collected balance for the
month, total items processed and other bank services used during the period,
together with the Custodian's statement for its services. The Corporation shall
compensate the Custodian for its services in accordance with the schedule of
compensation attached to this Agreement and marked Schedule 1.
5. If the Corporation instructs the Custodian in any capacity to take
any action with respect to any funds held by it hereunder, which action might
subject the Custodian in the opinion of the Custodian to liability for any cost,
loss, damage or expense, as a prerequisite to taking such action the Custodian
shall be and be kept indemnified in an amount and form satisfactory to it.
6. This Agreement may be terminated by the Corporation in whole or in
part upon ten (10) days written notice delivered to the Custodian at 10th &
Baltimore, Xxxxxx Xxxx, Xxxxxxxx 00000 (mailing address X.X. Xxx 00, Xxxxxx
Xxxx, Xxxxxxxx 00000-0000) or by the Custodian upon sixty (60) days written
notice delivered to the Corporation at 0000 Xxxx Xxxxxx, Xxxxxx Xxxx, Xxxxxxxx
00000 (mailing address X.X. Xxx 000000, Xxxxxx Xxxx, Xxxxxxxx 00000),
and each party may from time to time designate another address to which such
notice shall be delivered. Such notices shall be sent by registered mail and
shall be deemed delivered when deposited in the United States Mail, postage
prepaid. In the event of the inability of the Custodian to serve or other
termination of this Agreement by either party, the Corporation shall forthwith
appoint a custodian which qualifies as such under the Investment Company Act of
1940 or any other applicable law and the Custodian shall deliver all funds to
such successor custodian (or to any other custodian of the Corporation's assets)
and such delivery shall constitute a full and complete discharge of the
Custodian's obligations hereunder. If no such successor shall be found and there
should be no other custodian, the Corporation shall submit to the holders of
shares of its capital stock, before permitting delivery of such cash to anyone
other than a qualified custodian, the question whether the Corporation shall be
dissolved or shall function without a custodian; and pending such decision the
Custodian shall:
(a) continue to hold the Accounts, or
(b) deliver the funds in the Accounts, and all other assets,if
any, to a bank or trust company selected by it, such funds and assets to be held
subject to the terms of custody hereunder and any such delivery shall be a full
and complete discharge of its obligation hereunder.
7. If the Corporation shall be liquidated while this Agreement is in
force, the Custodian shall distribute the property of the Corporation to
creditors and shareholders in such manner as the Corporation may direct.
IN WITNESS WHEREOF, each of the parties hereto has caused this
Agreement to be executed in its name and on its behalf by its officer or
officers duly authorized, as of the day and year first above written.
TWENTIETH CENTURY STRATEGIC
PORTFOLIOS, INC.
By: /s/ Xxxxx X. Xxxxxxx, Xx.
-----------------------------
Xxxxx X. Xxxxxxx, Xx.
Chairman of the Board
BOATMEN'S FIRST NATIONAL BANK OF
KANSAS CITY
By: /s/ Xxxxxxx X. Xxxxxx
-------------------------
Xxxxxxx X. Xxxxxx
Vice President
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