Exhibit 8(a)(3)
XXXXXXX CALIFORNIA TAX FREE FUND
Custodian Contract
Amendment No. 1
The Xxxxxxx California Tax Free Fund (the "Fund") and State Street Bank
and Trust Company (the "Custodian") hereby agree to amend the Custodian Contract
entered into on June 14, 1983 pursuant to Article IX therein, as follows:
1. Page 5, Article II, Section B. By inserting the following new
Paragraphs 12 and 13 as follows and by renumbering the existing Paragraphs 12
and 13 as Paragraphs 14 and 15, respectively:
"12) For delivery in accordance with the provisions of any agreement
among the Fund, the Custodian and a broker-dealer registered under
the Securities Exchange Act of 1934 (the "Exchange Act") and a
member of The National Association of Securities Dealers, Inc.
("NASD"), relating to compliance with the rules of The Options
Clearing Corporation and of any registered national securities
exchange, or of any similar organization or organizations, regarding
escrow or other arrangements in connection with transactions by the
Fund;
13) For delivery in accordance with the provisions of any agreement
among the Fund, the Custodian, and a futures commission merchant
registered under the Commodity Exchange Act, relating to compliance
with the rules of the Commodity Futures Trading Commission and/or
any Contract Market, or any similar organization or organizations,
regarding account deposits in connection with transactions by the
Fund;"
2. Page 9, Article II, Section H, Paragraph 1, line 1. By inserting after
"securities" the following: ", futures contracts or options on futures
contracts".
3. Page 9, Article II, Section H, Paragraph 1, line 3. By inserting after
"securities" the following: ", or evidence of title to futures contracts or
options on futures contracts,".
4. Page 9, Article II, Section H, Paragraph 1, line 18. By inserting after
"another bank" the following: "or a broker-dealer which is a member of the
NASD,".
5. Page 10, Article II, Section H. By adding a new Paragraph 6 as follows
and by renumbering the current Paragraph 6 as Paragraph 7:
"6) For payment of the amount of dividends received in respect of
securities sold short;"
6. Page 15, Article II. By adding the following new Section M. as follows
and by renumbering the current Sections M., N., O., P. and Q. as Sections N.,
O., P., Q. and R., respectively:
"M. Segregated Account. The Custodian shall upon receipt of proper
instructions, which may be standing instructions, establish and
maintain a segregated account or accounts for and on behalf of the
Fund, into which account or accounts may be transferred cash and/or
securities, including securities maintained in an account by the
Custodian pursuant to Section L hereof, (i) in accordance with the
provisions of any agreement among the Fund, the Custodian and a
broker-dealer registered under the Exchange Act and a member of the
NASD (or any futures commission merchant registered under the
Commodity Exchange Act), relating to compliance with the rules of
The Options Clearing Corporation and of any registered national
securities exchange (or the Commodity Futures Trading Commission or
any registered contract market), or of any similar organization or
organizations, regarding escrow or other arrangements in connection
with transactions by the Fund, (ii) for purposes of segregating cash
or government securities in connection with options purchased, sold
or written by the Fund or commodity futures contracts or options
thereon purchased or sold by the Fund, (iii) for the purposes of
compliance by the Fund with the procedures required by Investment
Company Act Release No. 10666, or any subsequent release or releases
of the Securities and Exchange Commission relating to the
maintenance of segregated accounts by registered investment
companies and (iv) for other proper corporate purposes, but only, in
the case of clause (iv), upon receipt of, in addition to proper
instructions, a certified copy of a resolution of the Trustees or of
the Executive Committee signed by an officer of the Fund and
certified by the Secretary or an Assistant Secretary, setting forth
the purpose or purposes of such segregated account and declaring
such purposes to be proper corporate purposes."
7. Page 16, Article II, Section O, line 5. By inserting after "connection
therewith" the following: "and notices of exercise of call and put options
written by the Fund and the maturity of futures contracts purchased or sold by
the Fund)".
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8. Page 20, Article VI, line 5. By inserting after "safeguarding
securities," the following: "futures contracts and options on futures
contracts,".
This Amendment shall become effective as of its date of execution.
IN WITNESS WHEREOF, each of the parties has caused this instrument to be
executed in its name and behalf by its duly authorized representative and its
seal to be hereunder affixed as of the 16th day of April, 1986.
XXXXXXX CALIFORNIA TAX FREE FUND
(SEAL)
By /s/ Xxxxx X. Xxx
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Title: President
STATE STREET BANK AND TRUST COMPANY
(SEAL)
By [ILLEGIBLE]
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Title: Vice President
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