EXHIBIT (g)
CUSTODIAN AGREEMENT
THIS AGREEMENT, made as of the 21st day of March, 1992, by and between
Fortis Advantage Portfolios, Inc., a Minnesota corporation (the "Fund"), for and
on behalf of each series of the Fund that adopts this Agreement (said series
being hereinafter referred to, individually, as a "Series" and, collectively, as
the "Series"), and Norwest Bank Minnesota, N.A., a national banking association
organized and existing under the laws of the United States of America (the
"Custodian"). The name of each Series that adopts this Agreement and the
effective date of this Agreement with respect to each such Series are set forth
in EXHIBIT A hereto.
WITNESSETH:
WHEREAS, the Fund desires to appoint the Custodian as the custodian for the
assets of each Series, and the Custodian desires to accept such appointment,
pursuant to the terms and conditions of this Agreement.
NOW, THEREFORE, in consideration of the mutual agreements and covenants
herein made, the Fund and the Custodian agree as follows:
ARTICLE 1. DEFINITIONS
The word "Securities" as used herein shall be construed to include, without
being limited to, shares, stocks, bonds, debentures, notes, scrip, participation
certificates, rights to subscribe, warrants, options, certificates of deposit,
bankers' acceptances, repurchase agreements, commercial paper, choses in action,
evidences of indebtedness, investment contracts, voting trust certificates,
certificates of indebtedness and certificates of interest of any and every kind
and nature whatsoever, severed and unsecured, issued or to be issued, by any
corporation, company, partnership (limited or general), association, trust,
entity or person, public or private, whether organized under the laws of the
United States, or any state, commonwealth, territory or possession thereof, or
organized under the laws of any foreign country, or any state, province,
territory or possession thereof, or issued or to be issued by the United States
government or any agency or instrumentality thereof, options on stock indexes,
stock index and interest rate futures contracts and options thereon, and other
futures contracts and options thereon.
The words "Written Order from the Fund" shall mean a writing signed or
initialed by one or more person or persons designated in the current certified
list referred to in Article 2, provided that if said writing is signed by only
one person, that person shall be an officer of the Fund designated in said
current certified list. "Written Order from the Fund" also may include a
communication effected directly between electro-mechanical or electronic devices
(including, but not limited to, facsimile transceivers) provided that management
of the Fund and the Custodian are satisfied that such procedures afford adequate
safeguards for the assets of each Series.
ARTICLE 2. NAMES, TITLES AND SIGNATURES OF FUND'S OFFICERS
The Fund shall certify to the Custodian the names, titles and signatures of
officers and other persons who are authorized to give any Written Order from the
Fund on behalf of each Series. The Fund agrees that, whenever any change in
such authorization occurs, it will file with the Custodian a new certified list
of names, titles and signatures which shall be signed by at least one officer
previously certified to the Custodian if any such officer still holds an office
in the fund. The Custodian is authorized to rely and act upon the names, titles
and signatures of the individuals as they appear in the most recent such
certified list which has been delivered to the Custodian as hereinbefore
provided.
ARTICLE 3. SUB-CUSTODIANS AND DEPOSITORIES
Notwithstanding any other provision in this Agreement to the contrary, all
or any of the cash and Securities of each Series may be held in the Custodian's
own custody or in the custody of one or more other banks or trust companies
selected by the Custodian or as directed in one or more Written Orders from the
fund. Any such sub-custodian must have the qualifications required for
custodians under the Investment Company Act of 1940, as amended. The Custodian
or sub-custodian, as the case may be, may participate directly or indirectly in
one or more "securities depositories" (as defined in Rule 17f-4 under the
Investment Company Act of 1940, as amended, or in any successor provisions or
rules thereto). Any references in this Agreement to the delivery of Securities
by or to the Custodian shall, with respect to Securities custodied with one of
the aforementioned "securities depositories," be interpreted to mean that the
Custodian shall cause a bookkeeping entry to be made by the applicable
securities depository to indicate the transfer of ownership of the applicable
Security to or from the Fund, all as set forth in one or more Written Orders
from the Fund. Additionally, any references in this Agreement to the receipt of
proceeds or payments with respect to Securities transactions shall, with respect
to Securities custodied with one of the aforementioned "securities
depositories," be interpreted to mean that the Custodian shall have received an
advice from such securities depository that said proceeds or payments have been
received by such depository and deposited in the Custodian's account.
ARTICLE 4. RECEIPT AND DISBURSING OF MONEY
SECTION (1). The Fund shall from time to time cause cash owned by the Fund
to be delivered or paid to the Custodian for the account of any Series, but the
Custodian shall not be under any obligation or duty to determine whether all
cash of the Fund is being so deposited or to take any action or to give any
notice with respect to cash not so deposited. The Custodian agrees to hold such
cash, together with any other sum collected or received by it for or on behalf
of each Series of the Fund, in the account of such Series in conformity with the
terms of this Agreement. The Custodian shall be authorized to disburse cash
from the account of each Series only:
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(a) upon receipt of and in accordance with Written Orders
from the Fund stating that such cash is being used for one or more
of the following purposes, and specifying such purpose or purposes,
provided, however, that a reference in such Written Order from the
Fund to the pertinent paragraph or paragraphs of this Article shall
be sufficient compliance with this provision:
(i) the payment of interest;
(ii) the payment of dividends;
(iii) the payment of taxes;
(iv) the payment of the fees or charges to any investment adviser
of any Series;
(v) the payment of fees to a Custodian, stock registrar, transfer
agent or dividend disbursing agent for any Series;
(vi) the payment of distribution fees and commissions;
(vii) the payment of any operating expenses, which shall be deemed
to include legal and accounting fees and all other expenses
not specifically referred to in this paragraph (a);
(viii) payments to be made in connection with the conversion,
exchange or surrender of Securities owned by any Series;
(ix) payments on loans that may from time to time be due;
(x) payment to a recognized and reputable broker for Securities
purchased by the fund through said broker (whether or not
including any regular brokerage fees, charges or commissions
on the transaction) upon receipt by the Custodian of such
Securities in proper form for transfer and after the receipt
of a confirmation from the broker or dealer with respect to
the transaction;
(xi) payment to an issuer or its agent on a subscription for
Securities of such issuer upon the exercise of rights so to
subscribe, against a receipt from such issuer or agent for the
cash so paid;
(b) as provided in Article 5 hereof; and
(c) upon the termination of this Agreement.
SECTION (2). The Custodian is hereby appointed the
attorney-in-fact of the Fund to use reasonable efforts to enforce and collect
all checks, drafts or other orders for the payment of money received by the
Custodian for the account of each Series and drawn to or to the order of the
Fund and to deposit them in the account of the applicable Series.
ARTICLE 5. RECEIPT OF SECURITIES
The Fund agrees to place all of the Securities of each Series in its
account with the Custodian, but the Custodian shall not be under any obligation
or duty to determine whether all Securities of any Series are being so
deposited,
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or to require that such Securities be so deposited, or to take any action or
give any notice with respect to the Securities not so deposited. The Custodian
agrees to hold such Securities in the account of the Series designated by the
Fund, in the name of the Fund or of bearer or of a nominee of the Custodian, and
in conformity with the terms of this Agreement. The Custodian also agrees, upon
Written Order from the Fund, to receive from persons other than the Fund and to
hold in the account of the Series designated by the Fund Securities specified in
said Written Order of the Fund, and, if the same are in proper form, to cause
payment to be made therefor to the persons from whom such Securities were
received, from the funds of the applicable Series held by the Custodian in said
account in the amounts provided and in the manner directed by the Written Order
from the Fund.
The Custodian agrees that all Securities of each Series placed in its
custody shall be kept physically segregated at all times from those of any other
Series, person, firm or corporation, and shall be held by the Custodian with all
reasonable precautions for the safekeeping thereof. Upon delivery of any
Securities of any Series to a subcustodian pursuant to Article 3 of this
Agreement, the Custodian will create and maintain records identifying those
assets which have been delivered to the subcustodian as belonging to the
applicable Series.
ARTICLE 6. DELIVERY OF SECURITIES
The Custodian agrees to transfer, exchange or deliver Securities as
provided in Article 7, or on receipt by it of, and in accordance with, a Written
Order from the Fund in which the Fund shall state specifically which of the
following cases is covered thereby:
(a) in the case of deliveries of Securities sold by the Fund,
against receipt by the Custodian of the proceeds of sale and after
receipt of a confirmation from a broker or dealer (or, in
accordance with industry practice with respect to "same day
trades," acceptance of delivery of such securities by the broker or
dealer, which acceptance is followed up by confirmation thereof
within the normal settlement period) with respect to the
transaction;
(b) in the case of deliveries of Securities which may mature
or be called, redeemed, retired or otherwise become payable,
against receipt by the Custodian of the sums payable thereon or
against interim receipts or other proper delivery receipts;
(c) in the case of deliveries of Securities which are to be
transferred to and registered in the name of the Fund or of a
nominee of the Custodian and delivered to the Custodian for the
account of the Series, against receipt by the Custodian of interim
receipts or other proper delivery receipts;
(d) in the case of deliveries of Securities to the issuer
thereof, its transfer agent or other proper agent, or to any
committee or other organization for exchange for other Securities
to be delivered to the Custodian in connection with a
reorganization or recapitalization of the issuer or any split-up or
similar transaction involving such
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Securities, against receipt by the Custodian of such other
Securities or against interim receipts or other proper delivery
receipts;
(e) in the case of deliveries of temporary certificates in
exchange for permanent certificates, against receipt by the
Custodian of such permanent certificates or against interim
receipts or other proper delivery receipts;
(f) in the case of deliveries of Securities upon conversion
thereof into other Securities, against receipt by the Custodian of
such other Securities or against interim receipts or other proper
delivery receipts;
(g) in the case of deliveries of Securities in exchange for
other Securities (whether or not such transactions also involve the
receipt or payment of cash), against receipt by the Custodian of
such other Securities or against interim receipts or other proper
delivery receipts;
(h) in the case of warrants, rights or similar Securities,
the surrender thereof in the exercise of such warrants, rights or
similar Securities or the surrender of interim receipts or
temporary Securities for definitive Securities;
(i) for delivery in connection with any loans of securities
made by the Fund for the benefit of any Series, but only against
receipt of adequate collateral as agreed upon from time to time by
the Custodian and the Fund;
(j) for delivery as security in connection with any
borrowings by the Fund for the benefit of any Series requiring a
pledge of assets from the applicable Series, but only against
receipt of amounts borrowed;
(k) for delivery in accordance with the provisions of any
agreement among the Fund, the Custodian and a bank, broker-dealer
or futures commission merchant relating to compliance with
applicable rules and regulations regarding account deposits, escrow
or other arrangements in connection with transactions by the Fund
for the benefit of any Series;
(l) in a case not covered by the preceding paragraphs of this
Article, upon receipt of a resolution adopted by the Board of
Directors of the Fund, signed by an officer of the Fund and
certified to by the Secretary, specifying the Securities and assets
to be transferred, exchanged or delivered, the purposes for which
such delivery is being made, declaring such purposes to be proper
corporate purposes, and naming a person or persons (each of whom
shall be a properly bonded officer or employee of the Fund) to whom
such transfer, exchange or delivery is to be made; and
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(m) in the case of deliveries pursuant to paragraphs (a)
through (k) above, the Written Order from the Fund shall direct
that the proceeds of any Securities delivered, or Securities or
other assets exchanged for or in lieu of Securities so delivered,
are to be delivered to the Custodian.
ARTICLE 7. CUSTODIAN'S ACTS WITHOUT WRITTEN ORDERS FROM THE FUND
Unless and until the Custodian receives contrary Written Orders
from the Fund, the Custodian shall without order from the Fund:
(a) present for payment all bills, notes, checks, drafts and
similar items, and all coupons or other income items (except stock
dividends), held or received for the account of any Series, and
which require presentation in the ordinary course of business, and
credit such items to the account of the applicable Series
conditionally, subject to final payment;
(b) present for payment all Securities which may mature or
be called, redeemed, retired or otherwise become payable and credit
such items to the account of the applicable Series conditionally,
subject to final payment;
(c) hold for and credit to the account of any Series all
shares of stock and other Securities received as stock dividends or
as the result of a stock split or otherwise from or on account of
Securities of the Series, and notify the Fund, in the Custodian's
monthly reports to the Fund, of the receipt of such items;
(d) deposit or invest (as instructed from time to time by the
Fund) any cash received by it from, for or on behalf of any Series
to the credit of the account of the applicable Series;
(e) charge against the account for any Series disbursements
authorized to be made by the Custodian hereunder and actually made
by it, and notify the Fund of such charges at least once a month;
(f) deliver Securities which are to be transferred to and
reissued in the name of any Series, or of a nominee of the
Custodian for the account of any Series, and temporary certificates
which are to be exchanged for permanent certificates, to a proper
transfer agent for such purpose against interim receipts or other
proper delivery receipts; and
(g) hold for disposition in accordance with Written Orders
from the Fund hereunder all options, rights and similar Securities
which may be received by the Custodian and which are issued with
respect to any securities held by it hereunder, and notify the Fund
promptly of the receipt of such items.
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ARTICLE 8. SEGREGATED ACCOUNTS
Upon receipt of a Written Order from the Fund, the Custodian shall
establish and maintain one or more segregated accounts for and on behalf of the
Series specified in said Written Order from the Fund for purposes of segregating
cash and/or Securities (of the type agreed upon from time to time by the
Custodian and the Fund) for the purpose or purposes specified in said Written
Order from the Fund.
ARTICLE 9. DELIVERY OF PROXIES
The Custodian shall deliver promptly to the Fund all proxies,
notices and communications with relation to Securities held by it which it
may receive from sources other than the Fund.
ARTICLE 10. TRANSFER
The Fund shall furnish to the Custodian appropriate instruments to
enable the Custodian to hold or deliver in proper form for transfer any
Securities which it may hold for the account of any Series of the Fund. For
the purpose of facilitating the handling of Securities, unless otherwise
directed by Written Order from the Fund, the Custodian is authorized to hold
Securities deposited with it under this Agreement in the name of its
registered nominee or nominees (as defined in the Internal Revenue Code and
any regulations of the United States Treasury Department issued thereunder or
in any provision of any subsequent federal tax law exempting such transaction
from liability for stock transfer taxes) and shall execute and deliver all
such certificates in connection therewith as may be required by such laws or
regulations or under the laws of any state. The Custodian shall, if requested
by the Fund, advise the Fund of the certificate number of each certificate so
presented for transfer and that of the certificate received in exchange
therefor, and shall use its best efforts to the end that the specific
Securities held by it hereunder shall be at all times identifiable.
ARTICLE 11. TRANSFER TAXES AND OTHER DISBURSEMENTS
The Fund, for and on behalf of each Series, shall pay or reimburse the
Custodian for any transfer taxes payable upon transfers of Securities made
hereunder, including transfers incident to the termination of this Agreement,
and for all other necessary and proper disbursements and expenses made or
incurred by the Custodian in the performance or incident to the termination of
this Agreement, and the Custodian shall have a lien upon any cash or Securities
held by it for the account of each applicable Series of the fund for all such
items, enforceable, after thirty days' written notice by registered mail from
the Custodian to the Fund, by the sale of sufficient Securities to satisfy such
lien. The Custodian may reimburse itself by deducting from the proceeds of any
sale of Securities an amount sufficient to pay any transfer taxes payable upon
the transfer of Securities sold. The Custodian shall execute such certificates
in connection with Securities delivered to it under this Agreement as may be
required, under the provisions of any
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federal revenue act and any regulations of the Treasury Department issued
thereunder or any state laws, to exempt from taxation any transfers and/or
deliveries of any such Securities as may qualify for such exemption.
ARTICLE 12. CUSTODIAN'S LIABILITY FOR PROCEEDS OF SECURITIES SOLD
If the mode of payment for Securities to be delivered by the
Custodian is not specified in the Written Order from the Fund directing such
delivery, the Custodian shall make delivery of such Securities against
receipt by it of cash, a postal money order or a check drawn by a bank, trust
company or other banking institution, or by a broker named in such Written
Order from the Fund, for the amount the Custodian is directed to receive.
The Custodian shall be liable for the proceeds of any delivery of Securities
made pursuant to this Article, but provided that it has complied with the
provisions of this Article, but provided that is has complied with the
provisions of this Article, only to the extent that such proceeds are
actually received.
ARTICLE 13. CUSTODIAN'S REPORT
The Custodian shall furnish the Fund, as of the close of business
on the last business day of each month, a statement showing all cash
transactions and entries for the account of each Series of the Fund. The
books and records of the Custodian pertaining to its actions as Custodian
under this Agreement shall be open to inspection and audit, at reasonable
times, by officers of, and auditors employed by, the Fund. The Custodian
shall furnish the Fund with a list of the Securities held by it in custody
for the account of each Series of the fund as of the close of business on the
last business day of each quarter of the Fund's fiscal year.
ARTICLE 14. CUSTODIAN COMPENSATION
The Custodian shall be paid compensation at such rates and at such
times as may from time to time be agreed on in writing by the parties hereto
(as set forth with respect to each Series in EXHIBIT B hereto), and the
Custodian shall have a lien for unpaid compensation, to the date of
termination of this Agreement, upon any cash or Securities held by it for the
Series accounts of the Fund, enforceable in the manner specified in Article
11 hereof.
ARTICLE 15. DURATION, TERMINATION AND AMENDMENT OF AGREEMENT
This Agreement shall remain in effect with respect to each Series,
as it may from time to time be amended, until it shall have been terminated
as hereinafter provided, but no such amendment or termination shall affect or
impair any rights or liabilities arising out of any acts or omissions to act
occurring prior to such amendment or termination.
The Custodian may terminate this Agreement by giving the Fund
ninety days' written notice of such termination by registered mail addressed
to the Fund at its principal place of business.
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The Fund may terminate this Agreement by giving ninety days'
written notice thereof delivered by registered mail to the Custodian at its
principal place of business. Additionally, this Agreement may be terminated
with respect to any Series of the Fund pursuant to the same procedures, in
which case this Agreement shall continue in full effect with respect to all
other Series of the Fund.
Upon termination of this Agreement, the assets of the Fund, or Series
thereof, held by the Custodian shall be delivered by the Custodian to a
successor custodian upon receipt by the Custodian of a Written Order from the
Fund designating the successor custodian; and if no successor custodian is
designated in said Written Order from the Fund, the Custodian shall, upon such
termination, deliver all such assets to the Fund.
This Agreement may be amended or terminated at any time to the mutual
agreement of the Fund and the Custodian. Additionally, this Agreement may be
amended or terminated with respect to any Series of the Fund at any time by the
mutual agreement of the Fund and the Custodian, in which case such amendment or
termination would apply to such Series amending or terminating this Agreement
but not to the other Series of the Fund.
This Agreement may not be assigned by the Custodian without the
consent of the Fund, authorized or approved by a resolution of its Board of
Directors.
ARTICLE 16. SUCCESSOR CUSTODIAN
Any bank or trust company into which the Custodian or any successor
custodian may be merged or converted or with which it or any successor custodian
may be consolidated, or any bank or trust company resulting from any merger,
conversion or consolidation to which the Custodian or any successor custodian
shall be a party, or any bank or trust company succeeding to the business of the
Custodian, shall be and become the successor custodian without the execution of
any instrument or any further act on the part of the Fund or the Custodian or
any successor custodian.
Any successor custodian shall have all the power, duties and
obligations of the preceding custodian under this Agreement and any
amendments thereof and shall succeed to all the exemptions and privileges of
the preceding custodian under this Agreement and any amendments thereof.
ARTICLE 17. GENERAL
Nothing expressed or mentioned in or to be implied from any
provisions of this Agreement is intended to give or shall be construed to
give any person or corporation other than the parties hereto any legal or
equitable right, remedy or claim under or in respect of this Agreement or any
covenant, condition or provision herein contained, this Agreement and all of
the covenants, conditions and provisions hereof being intended to be, and
being, for the sole and exclusive benefit of the parties hereto and their
respective successors and assigns.
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It is the purpose and intention of the parties hereto that the Fund
shall retain all the power, rights and responsibilities of determining
policy, exercising discretion and making decisions with respect to the
purchase, or other acquisition, and the sale, or other disposition, of all of
its Securities, and that the duties and responsibilities of the Custodian
hereunder shall be limited to receiving and safeguarding the assets and
Securities of each Series of the Fund and to delivering or disposing of them
pursuant to the Written Order from the Fund as aforesaid, and the Custodian
shall have no authority, duty or responsibility for the investment policy of
the Fund or for any acts of the Fund in buying or otherwise acquiring, or in
selling or otherwise disposing of, any Securities, except as hereinbefore
specifically set forth.
The Custodian shall in no case or event permit the withdrawal of
any money or Securities of the Fund upon the mere receipt of any director,
officer, employee or agent of the Fund, but shall hold such money and
Securities for disposition under the procedures herein set forth.
ARTICLE 18. STANDARD OF CARE; INDEMNIFICATION
In connection with the performance of its duties and
responsibilities hereunder, the Custodian (and each officer, employee, agent,
sub-custodian and depository of or engaged by the Custodian) shall at all
times be held to the standard of reasonable care. The Custodian shall be
fully responsible for any action taken or omitted by any officer, employee,
agent, sub-custodian or depository of or engaged by the Custodian to the same
extent as if the Custodian were to take or omit to take such action directly.
The Custodian agrees to indemnify and hold the Fund and each Series of the
Fund harmless from and against any and all loss, liability and expense,
including reasonable legal fees and expenses, arising out of the Custodian's
own negligence, misfeasance, bad faith or willful misconduct or that of any
officer, employee, agent, sub-custodian and depository of or engaged by the
Custodian in the performance of the Custodian's duties and obligations under
this Agreement; PROVIDED, HOWEVER, that, notwithstanding any other provision
in this Agreement, the Custodian shall not be responsible for the following:
(a) any action taken or omitted in accordance with any
Written Order from the Fund reasonably believed by the Custodian to
be genuine and to be signed by the proper party or parties; or
(b) any action taken or omitted in reasonable reliance on the
advice of counsel of or reasonably acceptable to the Fund relating
to any of its duties and responsibilities hereunder.
The Fund agrees to indemnify and hold the Custodian harmless from and
against any and all loss, liability and expense, including reasonable legal fees
and expenses, arising out of the performance by the Custodian (and each officer,
employee, agent, sub-custodian and depository of or engaged by the Custodian) of
its duties and responsibilities under this Agreement PROVIDED THAT the Custodian
(or any officer, employee, agent, sub-custodian and depository of or engaged by
the Custodian, as applicable) exercised reasonable care in the performance of
its duties and responsibilities under this Agreement.
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ARTICLE 19. EFFECTIVE DATE
This Agreement shall become effective with respect to each Series that
adopts this Agreement when this Agreement shall have been approved with respect
to such Series by the Board of Directors of the Fund. The effective date with
respect to each Series shall be set forth on EXHIBIT A hereto. The Fund shall
transmit to the Custodian promptly after such approval by said Board of
Directors a copy of its resolution embodying such approval, certified by the
Secretary of the Fund.
ARTICLE 20. GOVERNING LAW
This Agreement is executed and delivered in Minneapolis, Minnesota,
and the laws of the State of Minnesota shall be controlling and shall govern
the construction, validity and effect of this contract.
IN WITNESS WHEREOF, the Fund and the custodian have caused this
Agreement to be executed in duplicate as of the date first above written by
their duly authorized officers.
ATTEST: FORTIS ADVANTAGE PORTFOLIOS, INC.
/s/ XXXXXXX X. XXXXXX By /s/ XXXXXX X. XXXXXXX
----------------------------- --------------------------------
Its PRESIDENT
----------------------------
ATTEST: NORWEST BANK MINNESOTA, N.A.
By /s/ XXXXX XXXXXX
----------------------------- --------------------------------
Its ASSISTANT VICE PRESIDENT
----------------------------
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Exhibit A
(as amended through March 21, 1992)
TO
CUSTODIAN AGREEMENT
BETWEEN
FORTIS ADVANTAGE PORTFOLIOS, INC.
AND
NORWEST BANK MINNESOTA, N.A.
NAME OF SERIES EFFECTIVE DATE
-------------- --------------
Capital Appreciation Portfolio March 21, 1992
High Yield Portfolio March 21, 1992
Government Total Return Portfolio March 21, 1992
Asset Allocation Portfolio March 21, 1992
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EXHIBIT B
(as amended through March 21, 1992)
TO
CUSTODIAN AGREEMENT
BETWEEN
FORTIS ADVANTAGE PORTFOLIOS, INC.
AND
NORWEST BANK MINNESOTA, N.A.
COMPENSATION SCHEDULE
NORWEST BANK MINNESOTA/CUSTODY FEE SCHEDULE (FORTIS)
SAFEKEEPING CHARGES
Per Issue
Bonds: $20.00 per year
Stocks: $40.00 per year
Asset Value
Bonds: $0.10/$1,000.00 par value of assets per year
Stocks: $0.10/$1,000.00 par value of assets per year
TRANSACTION CHARGES
Buy/Sell/Maturity $12.00 per transaction
Principal Payments $12.00 per transaction
Incoming/Outgoing Movement $10.00 per movement
Asset Movements $12.00 per movement
EXTRAORDINARY SERVICES
For any service other than those covered by the aforementioned, a special charge
may be made according to the service provided, time required and responsibility
involved. Such services include, but are not limited to excessive
administrative time, unusual reports, certifications, audits, etc.
ADDITIONAL CHARGES
Reimbursement may be requested for out-of-pocket expenses such as postage,
insurance, shipping, telephone, supplies, etc.
This fee schedule shall remain effective subject to periodic review by all
concerned parties.
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