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FI
75 10 (Ed. 11/16)
| INVESTMENT COMPANY BOND |
||
| GREAT AMERICAN INSURANCE COMPANY |
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| (A Inventory Insurance coverage Firm, Herein Known as the Underwriter) |
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| DECLARATIONS | Bond No. FS 2045995 12 00 |
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| Merchandise 1. |
Title of Insured (herein referred to as Insured): Oak Associates Funds |
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| Principal Tackle: |
3875 Embassy Parkway, Suite 250 |
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| Akron, OH 44333 |
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| Merchandise 2. |
Bond Interval: from 12:01 a.m. on 09/01/2022 to 09/01/2023 12:01 a.m. the efficient date of the termination or cancellation of this Bond, customary time on the Principal Tackle as to every of mentioned dates. |
|
| Merchandise 3. |
Restrict of Legal responsibility – Topic to Sections 9, 10 and 12 hereof, |
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| Quantity relevant to | ||||||||
| Restrict of Legal responsibility | Deductible | |||||||
| Insuring Settlement (A)-Constancy | $ | 1,250,000 | $ | 0 | ||||
| Insuring Settlement (B)-On Premises | $ | 1,250,000 | $ | 10,000 | ||||
| Insuring Settlement (C)–In Transit | $ | 1,250,000 | $ | 10,000 | ||||
| Insuring Settlement (D)-Forgery or Alteration | $ | 1,250,000 | $ | 10,000 | ||||
| Insuring Settlement (E)-Securities | $ | 1,250,000 | $ | 10,000 | ||||
| Insuring Settlement (F)-Counterfeit Forex | $ | 1,250,000 | $ | 10,000 | ||||
| Insuring Settlement (G)-Cease Fee | $ | 100,000 | $ | 5,000 | ||||
| Insuring Settlement (H)-Uncollectible Objects of Deposit | $ | 100,000 | $ | 5,000 | ||||
| Insuring Settlement (I)-Audit Expense | $ | 100,000 | $ | 5,000 | ||||
| Insuring Settlement (J)-Telefacsimile Transmissions | $ | 1,250,000 | $ | 10,000 | ||||
| Insuring Settlement (Okay)-Unauthorized Signatures | $ | 100,000 | $ | 5,000 | ||||
| Non-compulsory Insuring Agreements and Coverages | ||||||||
| Insuring Settlement (L)-Pc Methods | $ | 1,250,000 | $ | 10,000 | ||||
| Insuring Settlement (M)-Automated Telephone Methods | $ | Not Coated | $ | N/A | ||||
| Insuring Settlement (N)-Fraudulent Switch Directions | $ | 1,250,000 | $ | 10,000 | ||||
(Web page
1 of two)
| If Not Coated is inserted above reverse any specified Insuring Settlement or Protection, such Insuring Settlement or Protection and any different reference thereto on this Bond shall be deemed to be deleted therefrom. |
|
| Merchandise 4. |
Places of work or Premises Coated-Places of work acquired or established subsequent to the efficient date of this Bond are lined in response to the phrases of Common Settlement A. All of the Insureds places of work or premises in existence on the time this Bond turns into efficient are lined below this Bond besides the places of work or premises situated as follows: |
| N/A | |
| Merchandise 5. |
The legal responsibility of the Underwriter is topic to the phrases of the next Riders hooked up hereto: |
| See Kind FI8801 |
|
| Merchandise 6. |
The Insured by the acceptance of this Bond offers to the Underwriter terminating or cancelling prior Bond(s) or Coverage(ies) No.(s) |
| FS 2045995 11 |
|
| such termination or cancellation to be efficient as of the time this Bond turns into efficient. |
(Web page
2 of two)
FI
75 11 (Ed. 08/15)
INVESTMENT
COMPANY BOND
The
Underwriter, in consideration of an agreed premium, and topic to the Declarations made an element hereof, the Common Agreements, Circumstances
and Limitations and different phrases of this Bond, agrees with the Insured, in accordance with Insuring Agreements hereof to which an quantity
of insurance coverage is relevant as set forth in Merchandise 3 of the Declarations and with respect to loss sustained by the Insured at any time however
found throughout the Bond interval, to indemnify and maintain innocent the Insured for:
INSURING
AGREEMENTS
FIDELITY
| (A) | Loss ensuing from any dishonest or fraudulent act(s), together with Larceny or Embezzlement dedicated by an Worker, dedicated anyplace and whether or not dedicated alone or in collusion with others, together with lack of Property ensuing from such acts of an Worker, which Property is held by the Insured for any objective or in any capability and whether or not so held gratuitously or not and whether or not or not the Insured is liable therefor. |
Dishonest
or fraudulent act(s) as used on this Insuring Settlement shall imply solely dishonest or fraudulent act(s) dedicated by such Worker with
the manifest intent:
| (a) | to trigger the Insured to maintain such loss; and |
| (b) | to receive monetary profit for the Worker, or for every other individual or group supposed by the Worker to obtain such profit, apart from salaries, commissions, charges, bonuses, promotions, awards, revenue sharing, pensions or different worker advantages earned within the regular course of employment. |
ON
PREMISES
| (B) | Loss of Property (occurring with or with out negligence or violence) by theft, housebreaking, Larceny, theft, holdup, or different fraudulent means, misplacement, mysterious unexplainable disappearance, injury thereto or destruction thereof, abstraction or elimination from the possession, custody or management of the Insured, and lack of subscription, conversion, redemption or deposit privileges by the misplacement or lack of Property, whereas the Property is (or is meant or believed by |
the
Insured to be) lodged or deposited inside any places of work or premises situated anyplace, besides in an workplace listed in Merchandise 4 of the Declarations
or modification thereof or within the mail or with a service for rent apart from an armored motorcar firm, for the aim of transportation.
Places of work
and Gear
| (1) | Loss of or injury to furnishings, fixtures, stationary, provides or gear, inside any of the Insureds places of work lined below this Bond attributable to Larceny or theft in, or by housebreaking, theft or hold-up of such workplace, or try thereat, or by vandalism or malicious mischief; or |
| (2) | loss by injury to any such workplace by Larceny or theft in, or by housebreaking, theft or hold-up of such workplace or try thereat. |
IN
TRANSIT
| (C) | Loss of Property (occurring with or with out negligence or violence) by theft, Larceny, theft, hold-up, misplacement, mysterious unexplainable disappearance, being misplaced or in any other case made away with, injury thereto or destruction thereof, and lack of subscription, conversion, redemption or deposit privileges by the misplacement or lack of Property, whereas the Property is in transit anyplace within the custody of any individual or individuals performing as messenger, besides whereas within the mail or with a service for rent, apart from an armored motorcar firm, for the aim of transportation, such transit to start instantly upon receipt of such Property by the transporting individual or individuals, and to finish instantly upon supply thereof at vacation spot. |
(Web page
1 of 13)
FORGERY
OR ALTERATION
| (D) | Loss by FORGERY or ALTERATION of, on or in any payments of change, checks, drafts, acceptances, certificates of deposit, promissory notes, or different written guarantees, orders or instructions to pay sums sure in cash due payments, cash orders, warrants, orders upon public treasuries, letters of credit score, written directions, advices or functions directed to the Insured, authorizing or acknowledging the switch, fee, supply or receipt of funds or Property, which directions or advices or functions purport to have been signed or endorsed by any buyer of the Insured, shareholder or subscriber to shares, whether or not certificated or uncertificated, of any Funding Firm or by any monetary or banking establishment or stock-broker however which directions, advices or functions both bear the cast signature or Endorsement or have been altered with out the data and consent of such buyer, shareholder or subscriber to shares, whether or not certificated or uncertificated, of an Funding Firm, monetary or banking establishment or stockbroker, withdrawal orders or receipts for the withdrawal of funds or Property, or receipts or certificates of deposit for Property and bearing the identify of the Insured as issuer, or of one other Funding Firm for which the Insured acts as agent, excluding, nonetheless, any loss lined below Insuring Settlement (F) hereof whether or not or not protection for Insuring Settlement (F) is supplied for within the Declarations of this Bond. |
Any
verify or draft (a) made payable to a fictitious payee and endorsed within the identify of such fictitious payee or (b) procured in a transaction
with the maker or drawer thereof or with one performing as an agent of such maker or drawer or anybody impersonating one other and made or drawn
payable to the one so impersonated and endorsed by anybody apart from the one impersonated, shall be deemed to be solid as to such Endorsement.
Mechanically
reproduced facsimile signatures are handled the identical as handwritten signatures.
SECURITIES
| (E) | Loss sustained by the Insured, together with loss sustained by purpose of a violation of the structure, by-laws, guidelines or laws of any |
Self
Regulatory Group of which the Insured is a member or which might have been imposed upon the Insured by the structure, by-laws,
guidelines or laws of any Self Regulatory Group if the Insured had been a member thereof,
| (1) | by the Insureds having, in good religion and in the midst of enterprise, whether or not for its personal account or for the account of others, in any consultant, fiduciary, company or every other capability, both gratuitously or in any other case, bought or in any other case acquired, accepted or acquired, or bought or delivered, or given any worth, prolonged any credit score or assumed any legal responsibility, on the religion of, or in any other case acted upon, any securities, paperwork or different written devices which show to have been |
| (b) | solid as to the signature of any maker, drawer, issuer, endorser, assignor, lessee, switch agent or registrar, acceptor, surety or guarantor or as to the signature of any individual signing in every other capability, or |
| (c) | raised or in any other case altered, or misplaced, or stolen, or |
| (2) | by the Insureds having, in good religion and in the midst of enterprise, assured in writing or witnessed any signatures whether or not for worthwhile consideration or not and whether or not or not such guaranteeing or witnessing is extremely vires the Insured, upon any transfers, assignments, payments of sale, powers of legal professional, ensures, Endorsements or different obligations upon or in reference to any securities, paperwork or different written devices and which go or purport to go title to such securities, paperwork or different written devices; EXCLUDING, losses attributable to FORGERY or ALTERATION of, on or in these devices lined below Insuring Settlement (D) hereof. |
Securities,
paperwork or different written devices shall be deemed to imply authentic (together with authentic counterparts) negotiable or non-negotiable
agreements which in and of themselves signify an equitable curiosity, possession, or debt, together with an task thereof which devices
are within the bizarre
(Web page
2 of 13)
course
of enterprise, transferable by supply of such agreements with any vital Endorsement or task.
The
phrase counterfeited as used on this Insuring Settlement shall be deemed to imply any safety, doc or different written instrument
which is meant to deceive and to be taken for an authentic.
Mechanically
reproduced facsimile signatures are handled the identical as handwritten signatures.
COUNTERFEIT
CURRENCY
| (F) | Loss by the receipt by the Insured, in good religion, of any counterfeited cash orders or altered paper currencies or coin of the United States of America or Canada issued or purporting to have been issued by the US of America or Canada or issued pursuant to a United States of America or Canadian statute to be used as forex. |
STOP
PAYMENT
| (G) | Loss in opposition to any and all sums which the Insured shall turn out to be obligated to pay by purpose of the Legal responsibility imposed upon the Insured by regulation for damages: |
For
having both complied with or didn’t adjust to any written discover of any buyer, shareholder or subscriber of the Insured or
any Licensed Consultant of such buyer, shareholder or subscriber to cease fee of any verify or draft made or drawn by such
buyer, shareholder or subscriber or any Licensed Consultant of such buyer, shareholder or subscriber, or
For
having refused to pay any verify or draft made or drawn by any buyer, shareholder or subscriber of the Insured, or any Licensed Consultant
of such buyer, shareholder or Subscriber.
UNCOLLECTIBLE
ITEMS OF DEPOSIT
| (H) | Loss ensuing from funds of dividends or fund shares, or withdrawals permitted from any buyers, shareholders or subscribers account based mostly upon Uncollectible objects of Deposit of a buyer, shareholder or subscriber credited by the Insured or the Insureds agent to such buyers, shareholders or subscribers Mutual Fund Account: or |
loss
ensuing from any merchandise of Deposit processed by an Automated Clearing Home which is reversed by the client, shareholder or subscriber
and deemed uncollectible by the Insured.
Loss
consists of dividends and curiosity accrued to not exceed 15% of the Uncollectible objects that are deposited.
This
Insuring Settlement applies to all Mutual Funds with change privileges if all Fund(s) within the change program are insured
by a Nice American Insurance coverage Firm of Cincinnati, OH for Uncollectible Objects of Deposit. Whatever the variety of transactions
between Fund(s) the minimal variety of days of deposit throughout the Fund(s) earlier than withdrawal as declared within the Fund(s) prospectus shall
start from the date a deposit was first credited to any Insured Fund(s).
AUDIT
EXPENSE
| (I) | Expense incurred by the Insured for that a part of the prices of audits or examinations required by any governmental regulatory authority to be carried out both by such authority or by an impartial accountant by purpose of the invention of loss sustained by the Insured by any dishonest or fradulent act(s), together with Larceny or Embezzlement of any of the Staff. The overall legal responsibility of the Underwriter for such expense by purpose of such acts of any Worker or wherein such Worker is anxious or implicated or with respect to anyone audit or examination is proscribed to the quantity acknowledged reverse Audit Expense in Merchandise 3 of the Declarations; it being understood, nonetheless, that such expense shall be deemed to be a loss sustained by the Insured by any dishonest or fraudulent act(s), together with Larceny or Embezzlement of a number of of the Staff and the legal responsibility below this paragraph shall be along with the Restrict of Legal responsibility acknowledged in Insuring Settlement (A) in Merchandise 3 of the Declarations. |
TELEFACSIMILE
TRANSMISSIONS
| (J) | Loss ensuing by purpose of the Insured having transferred, paid or delivered any funds or Property, established any credit score, debited any account, or given any worth counting on any fraudulent directions despatched by a buyer or monetary establishment by Telefacsimile Transmission directed to the Insured, authorizing or |
(Web page
3 of 13)
acknowledging
the switch, fee, or supply of funds or property, the institution of a credit score, debiting of any account, or the giving of worth
by the Insured, however provided that such telefacsimile directions:
| (1) | bear a sound check key exchanged between the Insured and a buyer or one other monetary establishment with authority to make use of such check key for Telefacsimile directions within the bizarre course of enterprise, however which check key has been wrongfully obtained by an individual who was not approved to provoke, make, validate or authenticate a check key association; and |
| (2) | fraudulently purport to have been despatched by such buyer or monetary establishment, however which telefacsimile directions are transmitted with out the data or consent of such buyer or monetary establishment by an individual apart from such buyer or monetary establishment and which bear a solid signature. |
Telefacsimile
means a system of transmitting written paperwork by digital indicators over phone traces to gear maintained by the Insured inside
its communication room for the needs of reproducing a duplicate of mentioned doc. It doesn’t imply digital communication despatched by Telex,
TWC, or electronic message, or Automated Clearing Home.
UNAUTHORIZED
SIGNATURES
| (Okay) | Loss ensuing instantly from the Insured having accepted, paid or cashed any verify or withdrawal order, draft, made or drawn on a buyers account which bears the signature or Endorsement of 1 apart from an individual whose identify and signature is on the appliance on file with the Insured as a signatory on such account. |
It
shall be a situation precedent to the Insureds proper to restoration below this Insuring Settlement that the Insured shall have on file signatures
of all individuals who’re approved signatories on such account.
GENERAL
AGREEMENTS
| (A) | ADDITIONAL OFFICES OR EMPLOYEES- CONSOLIDATION OR MERGER-NOTICE |
| (1) | If the Insured shall, whereas this Bond is in drive, set up any further workplace or places of work, such workplace or places of work shall be mechanically lined hereunder from the dates of their institution, respectively. No discover to the Underwriter of a rise throughout any premium interval within the variety of places of work or within the variety of Staff at any of the places of work lined hereunder want be given and no further premium want be paid for the rest of such premium interval. |
| (2) | If an Funding Firm, named as Insured herein, shall, whereas this Bond is in drive, merge or consolidate with, or buy the property of one other establishment, protection for such acquisition shall apply mechanically from the date of acquisition. The Insured shall notify the Underwriter of such acquisition inside 60 days of mentioned |
date,
and an extra premium shall be computed provided that such acquisition entails further places of work or staff.
WARRANTY
| (B) | No assertion made by or on behalf of the Insured, whether or not contained within the software or in any other case, shall be deemed to be a guaranty of something besides that it’s true to the most effective of the data and perception of the individual making the assertion. |
COURT
COSTS AND ATTORNEYS FEES
(Relevant to all Insuring Agreements or Coverages now or hereafter forming a part of this Bond)
| (C) | The Underwriter will indemnify the Insured in opposition to courtroom prices and affordable attorneys charges incurred and paid by the Insured in protection, whether or not or not profitable, whether or not or not totally litigated on the deserves and whether or not or not settled of any go well with or authorized continuing introduced in opposition to the Insured to implement the lnsureds legal responsibility or alleged legal responsibility on account |
(Web page
4 of 13)
of
any loss, declare or injury which, if established in opposition to the Insured, would represent a loss sustained by the Insured lined below the
phrases of this Bond supplied, nonetheless, that with respect to Insuring Settlement (A) this indemnity shall apply solely within the occasion that
| (1) | an Worker admits to being responsible of any dishonest or fraudulent act(s), together with Larceny or Embezzlement; or |
| (2) | an Worker is adjudicated to be responsible of any dishonest or fraudulent act(s), together with Larceny or Embezzlement; |
| (3) | in the absence of (1) or (2) above an arbitration panel agrees, after a overview of an agreed assertion of information, that an Worker can be discovered responsible of dishonesty if such Worker had been prosecuted. |
The
Insured shall promptly give discover to the Underwriter of any such go well with or authorized continuing and on the request of the Underwriter shall
furnish it with copies of all pleadings and different papers therein. On the Underwriters election the Insured shall allow the Underwriter
to conduct the protection of such go well with or authorized continuing, within the Insureds identify, by attorneys of the Underwriters selec-
tion.
In such occasion, the Insured shall give all affordable info and help which the Underwriter shall deem essential to the right
protection of such go well with or authorized continuing.
If
the Insureds legal responsibility or alleged legal responsibility is larger than the quantity recoverable below this Bond, or if a Deductible Quantity is relevant,
the legal responsibility of the Underwriter below this Common Settlement is proscribed to that proportion of litigation expense decided by professional ration
of the Bond restrict of legal responsibility to the quantity claimed, after the appliance of any deductible. This litigation expense will probably be as well as
to the Restrict of Legal responsibility for the relevant Insuring Settlement.
FORMER
EMPLOYEE
| (D) | Acts of Worker, as outlined on this Bond, are lined below Insuring Settlement (A) solely whereas the Worker is within the Insureds make use of. Ought to loss involving a former Worker of the Insured be found subsequent to the termination of employment, protection would nonetheless apply below Insuring Settlement (A) if the direct proximate explanation for the loss occurred whereas the previous Worker carried out duties throughout the scope of his/her employment. |
THE
FOREGOING INSURING AGREEMENTS AND
GENERAL AGREEMENTS ARE SUBJECT TO
THE FOLLOWING CONDITIONS AND LIMITATIONS:
SECTION
1. DEFINITIONS
The
following phrases, as used on this Bond, shall have the respective meanings acknowledged on this Part:
| (1) | any of the Insureds officers, companions, or staff, and |
| (2) | any of the officers or staff of any predecessor of the Insured whose principal property are acquired by the Insured by consolidation or merger with, or buy of property of capital inventory of such predecessor, and |
| (3) | attorneys retained by the Insured to carry out authorized companies for the Insured and the workers of such attorneys whereas such attorneys or the workers of such attorneys are performing such companies for the Insured, and |
| (4) | visitor college students pursuing their research or duties in any of the Insureds places of work, and |
| (5) | administrators or trustees of the Insured, the funding advisor, underwriter (distributor), switch agent, or shareholder accounting report keeper, or administrator approved by written settlement to maintain monetary and/or different required data, however solely whereas performing acts coming throughout the scope of the same old duties of an officer or worker or whereas performing as a member of any committee duly elected or |
(Web page
5 of 13)
appointed
to look at or audit or have custody of or entry to the Property of the Insured, and
| (6) | any particular person or people assigned to carry out the same old duties of an worker throughout the premises of the Insured by contract, or by any company furnishing short-term personnel on a contingent or part-time foundation, and |
| (7) | every pure individual, partnership or company approved by written settlement with the Insured to carry out companies as digital knowledge processor of checks or different accounting data of the Insured, however excluding any such processor who acts as switch agent or in every other company capability in issuing checks, drafts or securities for the Insured, until included below Sub-section (9) hereof, and |
| (8) | these individuals so designated in part 15, Central Dealing with of Securities, and |
| (9) | any officer, associate or Worker of |
| (a) | an funding advisor, |
| (b) | an underwriter (distributor), |
| (c) | a switch agent or shareholder accounting record-keeper, or |
| (d) | an administrator approved by written settlement to maintain monetary and/or different required data, for an Funding Firm, named as Insured whereas performing acts coming throughout the scope of the same old duties of an officer or Worker of any Funding Firm named as Insured herein, or whereas performing as a member of any committee duly elected or appointed to look at or audit or have custody of or entry to the Property of any such Funding Firm supplied that solely Staff or companions of a switch agent, shareholder accounting record-keeper or administrator which is an affiliated individual as outlined within the Funding Firm Act of 1940, of an Funding Firm named as Insured, or is an affiliated individual of the adviser, underwriter or administrator of such Funding Firm, and which isn’t a financial institution, shall be included throughout the definition of Worker. |
Every
employer of short-term personnel or processors as set forth in Sub-Sections (6) and (7) of Part 1 (a) and their companions, officers and
staff shall collectively be deemed to be one individual for all the needs of this Bond, excepting, nonetheless, the final paragraph of
Part 13. Brokers, or different brokers below contract or representatives of the identical basic character shall not be thought-about Staff.
| (b) | Property means cash (i.e. forex, coin, financial institution notes, Federal Reserve notes), postage and income stamps, U.S. Financial savings Stamps, bullion, valuable metals of all types and in any type and articles made therefrom, jewellery, watches, necklaces, bracelets, gems, valuable and semi-precious stones, Bonds, securities, evidences of money owed, debentures, scrip, certificates, interim receipts, warrants, rights, places, calls, straddles, spreads, transfers, coupons, drafts, payments of change, acceptances, notes, checks, withdrawal orders, cash orders, warehouse receipts, payments of lading, conditional gross sales contracts, abstracts of title, insurance coverage Insurance policies, deeds, mortgages below actual property and/or chattels and upon pursuits therein, and assignments of such Insurance policies, mortgages and devices, and different worthwhile papers, together with books of account and different data utilized by the Insured within the conduct of its enterprise, and all different devices much like or within the nature of the foregoing together with Digital Representations of such Devices enumerated above (however excluding all knowledge processing data) in which the Insured has an curiosity or wherein the Insured acquired or ought to have acquired an curiosity by purpose of a predecessors declared monetary situation on the time of the Insureds consolidation or merge with, or buy of the principal property of, such predecessor or that are held by the Insured for any objective or in any capability and whether or not so held by the Insured for any objective or in any capability and whether or not so held gratuitously or not and whether or not or not the Insured is liable therefor. |
| (c) | Forgery means the signing of the identify of one other with the intent to deceive; it doesn’t embody the signing of 1s personal identify with or with out authority, in any capability, or for any objective. |
(Web page
6 of 13)
| (d) | Larceny and Embezzlement because it applies to any named Insured means these acts as set forth in Part 37 of the Funding Firm Act of 1940. |
| (e) | Objects of Deposit means any a number of checks and drafts. |
SECTION 2.
EXCLUSIONS
THIS
BOND DOES NOT COVER:
| (a) | loss effected instantly or not directly by the use of forgery or alteration of, on or in any instrument, besides when lined by Insuring Settlement (A), (D), (E) or (F). |
| (b) | loss because of riot or civil commotion exterior the US of America and Canada; or loss because of navy, naval or usurped energy, battle or rebellion until such loss happens in transit within the circumstances recited in Insuring Settlement (C) and until, when such transit was initiated, there was no data of such riot, civil commotion, navy, naval or usurped energy, battle or rebellion on the half of any individual performing for the Insured in initiating such transit. |
| (c) | loss, in time of peace or battle, instantly or not directly attributable to or ensuing from the consequences of nuclear fission or fusion or radioactivity; supplied, nonetheless, that this paragraph shall not apply to loss ensuing from industrial makes use of of nuclear power. |
| (d) | loss ensuing from any wrongful act or acts of any one who is a member of the Board of Administrators of the Insured or a member of any equal physique by by any means identify identified until such individual can be an Worker or an elected official, partial proprietor or associate of the Insured in another capability, nor, in any occasion, loss ensuing from the act or acts of any individual whereas performing within the capability of a member of such Board or equal physique. |
| (e) | loss ensuing from the entire or partial nonpayment of, or default upon, any mortgage or transaction within the nature of, or amounting to, a mortgage made by or obtained from the Insured or any of its companions, administrators or Staff, whether or not approved or unauthorized and whether or not procured in good religion or by |
trick,
artifice, fraud or false pretenses, until such loss is roofed below Insuring Settlement (A), (E) or (F).
| (f) | loss ensuing from any violation by the Insured or by any Worker |
| (1) | of regulation regulating (a) the issuance, buy or sale of securities, (b) securities transactions upon Safety Exchanges or over-the-counter market, (c) Funding Corporations, or (d) Funding Advisors, or |
| (2) | of any rule or regulation made pursuant to any such regulation. |
until
such loss, within the absence of such legal guidelines, guidelines or laws, can be lined below Insuring Agreements (A) or (E).
| (g) | loss of Property or lack of privileges by the misplacement or lack of Property as set forth in Insuring Settlement (C) or (D) whereas the Property is within the custody of any armored motorcar firm, until such loss shall be in extra of the quantity recovered or acquired by the Insured below (a) the Insureds contract with mentioned armored motorcar firm, (b) insurance coverage carried by mentioned armored motor automobile firm for the good thing about customers of its service, and (c) all different insurance coverage and indemnity in drive in by any means type carried by or for the good thing about customers of mentioned armored motorcar firms service, after which this Bond shall cowl solely such extra. |
| (h) | potential revenue, together with however not restricted to curiosity and dividends, not realized by the Insured due to a loss lined below this Bond, besides as included below Insuring Settlement (I). |
| (i) | all damages of any kind for which the Insured is legally liable, besides direct compensatory damages arising from a loss lined below this Bond. |
| (j) | loss by the give up of Property away from an workplace of the Insured on account of a risk |
| (1) | to do bodily hurt to any individual, besides lack of Property in transit within the custody of any individual performing as messenger pro- |
(Web page
7 of 13)
vided
that when such transit was initiated there was no data by the Insured of any such risk, or
| (2) | to do injury to the premises or Property of the Insured, besides when lined below Insuring Settlement (A). |
| (ok) | all prices, charges and different bills incurred by the Insured in establishing the existence of or quantity of loss lined below this Bond until such indemnity is supplied for below Insuring Settlement (I). |
| (l) | loss ensuing from funds made or withdrawals from the account of a buyer of the Insured, shareholder or subscriber to shares involving funds erroneously credited to such account, until such funds are made to or withdrawn by such depositor or consultant of such individual, who’s throughout the premises of the drawee financial institution of the Insured or throughout the workplace of the Insured on the time of such fee or withdrawal or until such fee is roofed below Insuring Settlement (A). |
| (m) | any loss ensuing from Uncollectible Objects of Deposit that are drawn from a monetary establishment exterior the fifty states of the United States of America, District of Columbia, and territories and possessions of the US of America, and Canada. |
SECTION 3.
ASSIGNMENT OF RIGHTS
This
Bond doesn’t afford protection in favor of any Employers of short-term personnel or of processors as set forth in sub-sections (6) and
(7) of Part 1(a) of this Bond, as aforesaid, and upon fee to the insured by the Underwriter on account of any loss by dishonest
or fraudulent act(s) together with Larceny or Embezzlement dedicated by any of the companions, officers or staff of such Employers, whether or not
performing alone or in collusion with others, an task of such of the Insureds rights and causes of motion as it might have in opposition to such
Employers by purpose of such acts so dedicated shall, to the extent of such fee, be given by the Insured to the Underwriter, and the
Insured shall execute all papers essential to safe to the Underwriter the rights herein supplied for.
| SECTION 4. | LOSS-NOTICE-PROOF-LEGAL PROCEEDINGS |
This
Bond is for the use and profit solely of the Insured named within the Declarations and the Underwriter shall not be liable hereunder for loss
sustained by anybody apart from the Insured until the Insured, in its sole discretion and at its possibility, shall embody such loss within the
Insureds proof of loss. On the earliest practicable second after discovery of any loss hereunder the Insured shall give the Underwriter
written discover thereof and shall additionally inside six months after such discovery furnish to the Underwriter affirmative proof of loss with
full particulars. If declare is made below this Bond for lack of securities or shares, the Underwriter shall not be liable until every
of such securities or shares is recognized in such proof of loss by a certificates or Bond quantity or, the place such securities or shares
are uncertificated, by such identification means as agreed to by the Underwriter. The Underwriter shall have thirty days after discover
and proof of loss inside which to research the declare, and this shall apply however the loss is made up wholly or in a part of
securities of which duplicates could also be obtained. Authorized proceedings for restoration of any loss hereunder shall not be introduced previous to the
expiration of sixty days after such proof of loss is filed with the Underwriter nor after the expiration of twenty-four months from the
discovery of such loss, besides that any motion or continuing to get better hereunder on account of any judgment in opposition to the Insured in any
go well with talked about in Common Settlement C or to get better attorneys charges paid in any such go well with, shall be begun inside twenty-four months from
the date upon which the judgment in such go well with shall turn out to be last. If any limitation embodied on this Bond is prohibited by any regulation controlling
the development hereof, such limitation shall be deemed to be amended in order to be equal to the minimal interval of limitation permitted
by such regulation.
Discovery
happens when the Insured
| (a) | turns into conscious of information, or |
| (b) | receives written discover of an precise or potential declare by a 3rd social gathering which alleges that the Insured is liable below circumstance |
which
would trigger an inexpensive individual to imagine {that a} loss lined by the Bond has been or will probably be incurred despite the fact that the precise quantity or
particulars of loss is probably not then identified.
(Web page
8 of 13)
SECTION
5. VALUATION OF PROPERTY
The
worth of any Property, besides books of accounts or different data utilized by the Insured within the conduct of its enterprise, for the lack of
which a declare shall be made hereunder, shall be decided by the common market worth of such Property on the enterprise day subsequent previous
the invention of such loss; supplied, nonetheless, that the worth of any Property changed by the Insured previous to the fee of declare therefor
shall be the precise market worth on the time of alternative; and additional supplied that in case of a loss or misplacement of interim certificates,
warrants, rights, or different securities, the manufacturing which is critical to the train of subscription, conversion, redemption or deposit
privileges, the worth thereof shall be the market worth of such privileges instantly previous the expiration thereof if mentioned loss
or misplacement isn’t found till after their expiration. If no market worth is quoted for such Property or for such privileges,
the worth shall be fastened by settlement between the events or by arbitration.
In
case of any loss or injury to Property consisting of books of accounts or different data utilized by the Insured within the conduct of its enterprise,
the Underwriter shall be liable below this Bond provided that such books or data are literally reproduced after which for no more than the
value of clean books, clean pages or different supplies plus the price of labor for the precise transcription or copying of knowledge which shall
have been furnished by the Insured with the intention to reproduce such books and different data.
| SECTION 6. | VALUATION OF PREMISES AND FURNISHINGS |
In
case of injury to any workplace of the Insured, or lack of or injury to the furnishings, fixtures, stationary, provides, gear, safes
or vaults therin, the Underwriter shall not be responsible for greater than the precise money worth thereof, or for greater than the precise value of
their alternative or restore. The Underwriter could, at its election, pay such precise money worth or make such alternative or restore. If
the Underwriter and the Insured can not agree upon such money worth or such value or alternative or restore, such shall be decided by
arbitration.
SECTION 7.
LOST SECURITIES
If
the Insured shall maintain a lack of securities the overall worth of which is in extra of the restrict acknowledged in Merchandise 3 of the Declarations
of this Bond, the legal responsibility of the Underwriter shall be restricted to fee for, or duplication of, securities having worth equal to the
restrict acknowledged in Merchandise 3 of the Declarations of this Bond.
If
the Underwriter shall make fee to the Insured for any lack of securities, the Insured shall thereupon assign to the Underwriter all
of the Insureds rights, title and pursuits in and to mentioned securities.
With
respect to securities the worth of which don’t exceed the Deductible Quantity (on the time of the invention of the loss) and for which
the Underwriter could at its sole discretion and possibility and on the request of the Insured subject a Misplaced Instrument Bond or Bonds to impact
alternative thereof, the Insured can pay the same old premium charged therefor and can indemnify the Underwriter in opposition to all loss or expense
that the Underwriter could maintain due to the issuance of such Misplaced Instrument Bond or Bonds.
With
respect to securities the worth of which exceeds the Deductible Quantity (on the time of discovery of the loss) and for which the Underwriter
could subject or organize for the issuance of a Misplaced Instrument Bond or Bonds to impact alternative thereof, the Insured agrees that it’s going to
pay as premium therefor a proportion of the same old premium charged therefor, mentioned proportion being equal to the share that the Deductible
Quantity bears to the worth of the securities upon discovery of the loss, and that it’s going to indemnify the issuer of mentioned Misplaced Instrument
Bond or Bonds in opposition to all loss and expense that isn’t recoverable from the Underwriter below the phrases and circumstances of this INVESTMENT
COMPANY BOND topic to the Restrict of Legal responsibility hereunder.
SECTION
8. SALVAGE
In
case of restoration, whether or not made by the Insured or by the Underwriter, on account of any loss in extra of the Restrict of Legal responsibility hereunder
plus the Deductible Quantity relevant to such loss from any supply apart from suretyship, insurance coverage, reinsurance, safety or indemnity
taken by or for the good thing about the Underwriter, the web quantity of such restoration, much less the precise prices and bills of constructing similar, shall
be utilized to reimburse the
(Web page
9 of 13)
Insured
in full for the surplus portion of such loss, and the rest, if any, shall be paid first in reimbursement of the Underwriter and thereafter
in reimbursement of the Insured for that a part of such loss throughout the Deductible Quantity. The Insured shall execute all vital papers
to safe to the Underwriter the rights supplied for herein.
| SECTION 9. | NON-REDUCTION AND NON- ACCUMULATION OF LIABILITY AND TOTAL LIABILITY |
At
all occasions previous to termination hereof this Bond shall proceed in drive for the restrict acknowledged within the relevant sections of Merchandise 3 of
the Declarations of this Bond however any earlier loss for which the Underwriter could have paid or be liable to pay hereunder;
PROVIDED, nonetheless, that whatever the variety of years this Bond shall proceed in drive and the variety of premiums which shall be
payable or paid, the legal responsibility of the Underwriter below this Bond with respect to all loss ensuing type
| (a) | any one act of housebreaking, theft or hold-up, or try thereat, wherein no Accomplice or Worker is anxious or implicated shall be deemed to be one loss, or |
| (b) | any one unintentional or negligent act on the a part of anyone individual leading to injury to or destruction or misplacement of Property, shall be deemed to be one loss, or |
| (c) | all wrongful acts, apart from these laid out in (a) above, of anyone individual shall be deemed to be one loss, or |
| (d) | all wrongful acts, apart from these laid out in (a) above, of a number of individuals (which dishonest act(s) or act(s) of Larceny or Embezzlement embody, however will not be restricted to, the failure of an Worker to report such acts of others) whose dishonest act or acts deliberately or unintentionally, knowingly or unknowingly, instantly or not directly, help or aids in any approach, or permits the continuation of, the dishonest act or acts of every other individual or individuals shall be deemed to be one loss with the act or acts of the individuals aided, or |
| (e) | any one casualty or occasion apart from these laid out in (a), (b), (c) or (d) previous, shall be deemed to be one loss, and shall be restricted to the relevant Restrict of Legal responsibility acknowledged in Merchandise 3 |
of
the Declarations of this Bond regardless of the overall quantity of such loss or losses and shall not be cumulative in quantities from 12 months
to 12 months or from interval to interval.
Sub-section
(c) isn’t relevant to any scenario to which the language of sub-section (d) applies.
SECTION 10.
LIMIT OF LIABILITY
With
respect to any loss set forth within the PROVIDED clause of Part 9 of this Bond which is recoverable or recovered in complete or partly
below every other Bonds or Insurance policies issued by the Underwriter to the Insured or to any predecessor in curiosity of the Insured and terminated
or cancelled or allowed to run out and wherein the interval for discovery has not expired on the time any such loss thereunder is found,
the overall legal responsibility of the Underwriter below this Bond and below different Bonds or Insurance policies shall not exceed, within the mixture, the quantity
carried hereunder on such loss or the quantity obtainable to the Insured below such different Bonds, or Insurance policies, as restricted by the phrases and
circumstances thereof, for any such loss if the latter quantity be the bigger.
SECTION
11. OTHER INSURANCE
If
the Insured shall maintain, as indemnity in opposition to any loss lined hereunder, any legitimate and enforceable insurance coverage or suretyship, the Underwriter
shall be liable hereunder just for such quantity of such loss which is in extra of the quantity of such different insurance coverage or suretyship, not
exceeding, nonetheless, the Restrict of Legal responsibility of this Bond relevant to such loss.
SECTION
12. DEDUCTIBLE
The
Underwriter shall not be liable below any of the Insuring Agreements of this Bond on account of loss as specified, respectively, in sub-sections
(a), (b), (c), (d) and (e) of Part 9, Non-Discount And Nonaccumulation Of Legal responsibility And Whole Legal responsibility, until the quantity of such
loss, after deducting the web quantity of all reimbursement and/or restoration obtained or made by the insured, apart from from any Bond or
Coverage of insurance coverage issued by an insurance coverage firm and masking such loss, or by the Underwriter on account thereof previous to fee
by the Underwriter of such loss, shall exceed the Deductible Quantity set forth in Merchandise 3 of the Declarations hereof (herein referred to as Deduct-
(Web page
10 of 13)
ible
Quantity) after which for such extra solely, however in no occasion for greater than the relevant Restrict of Legal responsibility acknowledged in Merchandise 3 of the Declarations.
The
Insured will bear, along with the Deductible Quantity, premiums on Misplaced Instrument Bonds as set forth in Part 7.
There
shall be no deductible relevant to any loss below Insuring Settlement A sustained by any Funding Firm named as Insured herein.
SECTION
13. TERMINATION
The
Underwriter could terminate this Bond as an entirety by furnishing written discover specifying the termination date which can’t be prior
to 90 days after the receipt of such written discover by every Funding Firm named as Insured and the Securities and Trade Fee,
Washington, D.C. The Insured could terminate this Bond as an entirety by furnishing written discover to the Underwriter. When the Insured
cancels, the Insured shall furnish written discover to the Securities and Trade Fee, Washington, D.C. previous to 90 days earlier than
the efficient date of the termination. The Underwriter shall notify all different Funding Corporations named as Insured of the receipt of
such termination discover and the termination can’t be efficient previous to 90 days after receipt of written discover by all different Funding
Corporations. Premiums are earned till the termination date as set forth herein.
This
Bond will terminate as to anyone Insured, (apart from a registered administration funding firm), instantly upon taking on of such
Insured by a receiver or different liquidator or by State or Federal officers, or instantly upon the submitting of a petition below any State
or Federal statute relative to chapter or reorganization of the Insured, or task for the good thing about collectors of the Insured,
or instantly upon such Insured ceasing to exist, whether or not by merger into one other entity, or by disposition of all of its property.
This
Bond will terminate as to any registered administration funding firm upon the expiration of 90 days after written discover has been given
to the Securities and Trade Fee, Washington, D.C.
The
Underwriter shall refund the unearned premium computed as quick charges in accordance with the usual quick charge cancellation tables
if ter-
minated
by the Insured or professional rata if terminated for every other purpose.
This
Bond shall terminate
| (a) | as to any Worker as quickly as any associate, officer or supervisory Worker of the Insured, who isn’t in collusion with such Worker, shall study of any dishonest or fraudulent act(s), together with Larceny or Embezzlement on the a part of such Worker with out prejudice to the lack of any Property then in transit within the custody of such Worker and upon the expiration of ninety (90) days after written discover has been given to the Securities and Trade Fee, Washington, D.C. (See Part 16(d)) and to the Insured Funding Firm, or |
| (b) | as to any Worker 90 days after receipt by every Insured and by the Securities and Trade Fee of a written discover from the Underwriter of its need to terminate this Bond as to such Worker, or |
| (c) | as to any individual, who’s a associate, officer or worker of any Digital Information Processor lined below this Bond, from and after the time that the Insured or any associate or officer thereof not in collusion with such individual shall have data of data that such individual has dedicated any dishonest or fraudulent act(s), together with Larceny or Embezzlement within the service of the Insured or in any other case, whether or not such act be dedicated earlier than or after the time this Bond is efficient. |
| SECTION 14. | RIGHTS AFTER TERMINATION OR CANCELLATION |
At
any time previous to the termination or cancellation of this Bond as an entirety, whether or not by the Insured or the Underwriter, the Insured
could give to the Underwriter discover that it wishes below this Bond an extra interval of 12 months inside which to find loss sustained
by the Insured previous to the efficient date of such termination or cancellation and shall pay an extra premium therefor.
Upon
receipt of such discover from the Insured, the Underwriter shall give its written consent thereto: supplied, nonetheless, that such further
time frame shall terminate instantly;
(Web page
11 of 13)
| (a) | on the efficient date of every other insurance coverage obtained by the Insured, its successor in enterprise or every other social gathering, changing in complete or partly the insurance coverage afforded by this Bond, whether or not or not such different insurance coverage offers protection for loss sustained previous to its efficient date, or |
| (b) | upon takeover of the Insureds enterprise by any State or Federal official or company, or by any receiver or liquidator, performing or appointed for this objective with out the need of the Underwriter giving discover of such termination. Within the occasion that such further interval of time is terminated, as supplied above, the Underwriter shall refund any unearned premium. |
The
proper to buy such further interval for the invention of loss is probably not exercised by any State or Federal official or company, or
by any receiver or liquidator, performing or appointed to take over the Insureds enterprise for the operation or for the liquidation thereof
or for every other objective.
| SECTION 15. | CENTRAL HANDLING OF SECURITIES |
Securities
included within the techniques for the central dealing with of securities established and maintained by Depository Belief Firm, Midwest Depository
Belief Firm, Pacific Securities Depository Belief Firm, and Philadelphia Depository Belief Firm, hereinafter referred to as Companies,
to the extent of the Insureds curiosity therein as efficient by the making of applicable entries on the books and data of such Companies
shall be deemed to be Property.
The
phrases Worker and Staff shall be deemed to incorporate the officers, companions, clerks and different staff
of the New York Inventory Trade, Boston Inventory Trade, Midwest Inventory Trade, Pacific Inventory Trade and Philadelphia Inventory Trade,
hereinafter referred to as Exchanges, and of the above named Companies, and of any nominee in whose identify is registered any safety included
throughout the techniques for the central dealing with of securities established and maintained by such Companies, and any worker of any acknowledged
service firm, whereas such officers, companions, clerks and different staff and staff of service firms carry out companies for such
Companies within the operation of such techniques. For the aim of the above definition a acknowledged service firm
shall
be any firm offering clerks or different personnel to mentioned Exchanges or Company on a contract foundation.
The
Underwriter shall not be liable on account of any loss(es) in reference to the central dealing with of securities throughout the techniques established
and maintained by such Companies, until such loss(es) shall be in extra of the quantity(s) recoverable or recovered below any Bond
or Coverage if insurance coverage indemnifying such Companies, in opposition to such loss(es), after which the Underwriter shall be liable hereunder solely
for the Insureds share of such extra loss(es), however in no occasion for greater than the Restrict of Legal responsibility relevant hereunder.
For
the aim of figuring out the Insureds share of extra loss(es) it shall be deemed that the Insured has an curiosity in any certificates
representing any safety included inside such techniques equal to the curiosity the Insured then has in all certificates representing
the identical safety included inside such techniques and that such Company shall use their finest judgment in apportioning the quantity(s)
recoverable or recovered below any Bond or Coverage of insurance coverage indemnifying such Companies in opposition to such loss(es) in reference to
the central dealing with of securities inside such techniques amongst all these having an curiosity as recorded by applicable entries within the books
and data of such Companies in Property concerned in such loss(es) on the premise that every such curiosity shall share within the quantity(s)
so recoverable or recovered within the ratio that the worth of every such curiosity bears to the overall worth of all such pursuits and that
the Insureds share of such extra loss(es) shall be the quantity of the Insureds curiosity in such Property in extra of the quantity(s)
so apportioned to the Insured by such Companies.
This
Bond doesn’t afford protection in favor of such Companies or Exchanges or any nominee in whose identify is registered any safety included
throughout the techniques for the central dealing with of securities established and maintained by such Companies, and upon fee to the Insured
by the Underwriter on account of any loss(es) throughout the techniques, an task of such of the Insureds rights and causes of motion
as it might have in opposition to such Companies or Exchanges shall to the extent of such fee, be given by the Insured to the Underwriter,
and the Insured shall execute all papers essential to safe to the Underwriter the rights supplied for herein.
(Web page
12 of 13)
| SECTION 16. |
ADDITIONAL COMPANIES INCLUDED AS INSURED |
If
multiple company, co-partnership or individual or any mixture of them be included because the Insured herein:
| (a) | the whole legal responsibility of the Underwriter hereunder for loss or losses sustained by any a number of or all of them shall not exceed the restrict for which the Underwriter can be liable hereunder if all such loss had been sustained by any one among them. |
| (b) | the one first named herein shall be deemed approved to make, regulate and obtain and implement fee of all claims hereunder and shall be deemed to be the agent of the others for such functions and for the giving or receiving of any discover required or permitted to be given by the phrases hereof, supplied that the Underwriter shall furnish every named Funding Firm with a duplicate of the Bond and with any modification thereto, along with a duplicate of every formal submitting of the settlement of every such declare previous to the execution of such settlement, |
| (c) | the Underwriter shall not be chargeable for the right software of any fee made hereunder to mentioned first named Insured, |
| (d) | data possessed or discovery made by any associate, officer or supervisory Worker of any Insured shall for the aim of Part 4 and Part 13 of this Bond represent data or discovery by all of the Insured, and |
| (e) | if the primary named Insured ceases for any purpose to be lined below this Bond, then the Insured subsequent named shall thereafter be thought-about as the primary named Insured for the needs of this Bond. |
| SECTION 17. |
NOTICE AND CHANGE OF CONTROL |
Upon
the Insureds acquiring data of a switch of its excellent voting securities which leads to a change in management (as set forth
in Part 2(a) (9) of the Funding Firm Act of
1940)
of the Insured, the Insured shall inside thirty (30) days of such data give written discover to the Underwriter setting forth:
| (a) | the names of the transferors and transferees (or the names of the helpful homeowners if the voting securities are requested in one other identify), and |
| (b) | the whole variety of voting securities owned by the transferors and the transferees (or the helpful homeowners), each instantly earlier than and after the switch, and |
| (c) | the whole variety of excellent voting securities. |
As
used on this part, management means the facility to train a controlling affect over the administration or Insurance policies of the Insured.
Failure
to provide the required discover shall lead to termination of protection of this Bond, efficient upon the date of inventory switch for any loss
wherein any transferee is anxious or implicated.
Such
discover isn’t required to be given within the case of an Insured which is an Funding Firm.
SECTION
18. CHANGE OR MODIFICATION
This
Bond or any instrument amending or effecting similar is probably not modified or modified orally. No modifications in or modification thereof shall
be efficient until made by written Endorsement issued to type an element hereof over the signature of the Underwriters Licensed Consultant.
When a Bond covers just one Funding Firm no change or modification which might adversely have an effect on the rights of the Funding Firm
shall be efficient previous to 60 days after written notification has been furnished to the Securities and Trade Fee, Washington,
D.C. by the Insured or by the Underwriter. If multiple Funding Firm is known as because the Insured herein, the Underwriter shall
give written discover to every Funding Firm and to the Securities and Trade Fee, Washington, D.C. not lower than 60 days
previous to the efficient date of any change or modification which might adversely have an effect on the rights of such Funding Firm.
(Web page
13 of 13)
| FI 88 01 (Ed. 10 11) |
FORMS
AND RIDERS SCHEDULE
It
is hereby understood and agreed the next varieties and riders are hooked up to and are part of this bond:
| Kind No. / Version |
Date Added * or Date Deleted |
Kind Description |
Rider No. (if relevant) |
|
| FI7510 | 11-16 | Funding Firm Bond Dec Web page |
||
| FI7511 | 08-15 | Funding Firm Bond Insuring Agreements |
||
| FI7343 | 08-15 | Joint Insured Record |
1 | |
| FI7506 | 08-15 | Insuring Settlement (L) Pc Methods |
2 | |
| FI7508 | 08-15 | Newly Established Funds | 3 | |
| FI7516 | 11-16 | Insuring Settlement (N) Fraudulent Switch Directions |
4 | |
| IL7324 | 07-21 | World Sanction Endorsement | ||
| FI7341 | 04-17 | In-Witness Clause |
||
| * If not at inception |
||||
| FI 73 43 (Ed. 08/15) |
RIDER
NO. 1
JOINT
INSURED LIST
To
be hooked up to and type a part of INVESTMENT COMPANY BOND,
| Bond No. |
FS 2045995 12 00 |
| In favor of |
Oak Associates Funds |
It
is agreed that:
| 1. | At the request of the Insured, the Underwriter provides to the checklist of Insured below the hooked up bond the next: |
White
Oak Choose Development Fund
Pin
Oak Fairness Fund
Rock
Oak Core Development Fund
River
Oak Discovery Fund
Crimson
Oak Expertise Choose Fund
Black
Oak Rising Expertise Fund
Stay
Oak Well being Sciences Fund
| 2. | Nothing herein contained shall be held to differ, alter, waive, or prolong any of the phrases, circumstances, provisions, agreements, or limitations of the above talked about bond apart from as acknowledged herein. |
| 3. | This Rider shall turn out to be efficient as of 12:01 a.m. on 09/01/2022 customary time. |
| FI 75 06 (Ed. 08/15) |
RIDER
NO. 2
INSURING
AGREEMENT (L) COMPUTER SYSTEMS
To
be hooked up to and type a part of INVESTMENT COMPANY BOND,
| Bond No. |
FS 2045995 12 00 |
| In favor of |
Oak Associates Funds |
It
is agreed that:
| 1. | The hooked up bond is hereby amended by including to it an extra Insuring Settlement as follows: |
INSURING
AGREEMENT (L) – COMPUTER SYSTEMS
Loss
ensuing instantly from a fraudulent
| (1) | entry of knowledge into, or |
| (2) | change of knowledge components or packages inside a Pc System; supplied that fraudulent entry or change causes |
| (a) | Property to be transferred paid or delivered, |
| (b) | an account of the Insured, or of its buyer, to be added, deleted, debited or credited, or |
| (c) | an unauthorized account or a fictitious account to be debited or credited; |
| (3) | voice directions or advices having been transmitted to the Insured or its agent(s) by phone; and supplied additional, the fraudulent entry or change is made or attributable to a person performing with the manifest intent to: |
| (a) | trigger the Insured or its agent(s) to maintain a loss, and |
| (b) | receive monetary profit for that particular person or for different individuals supposed by that particular person to obtain a monetary profit, |
| (c) | and additional supplied such voice directions or advices: |
| (i) | had been made by an individual who presupposed to signify a person approved to make such voice directions or advices; and |
| (ii) | had been electronically recorded by the Insured or its agent(s). |
| (4) | It shall be a situation to restoration below the Pc Methods Rider that the Insured or its agent(s) shall to the most effective of their means electronically report all voice directions or advices acquired over the phone. The Insured or its agent(s) warrant that they shall make their finest efforts to keep up the digital recording system on a steady foundation. Nothing, nonetheless, on this Rider shall bar the Insured from restoration the place no recording is on the market due to mechanical failure of the machine utilized in making such recording, or due to failure of |
the
media used to report a dialog from any trigger, or error or omission of any Worker(s) or agent(s) of the Insured.
SCHEDULE
OF SYSTEMS
Any
System Utilized by the Insured
| 2. | As used on this Rider, Pc System means: |
| (a) | computer systems with associated peripheral parts, together with storage parts, wherever situated, |
| (b) | techniques and functions software program, |
| (d) | associated communication networks or buyer communication techniques, and |
| (e) | associated Digital Funds Switch Methods, |
by
which knowledge are electronically collected, transmitted, processed, saved, and retrieved.
| 3. | In addition to the Exclusions within the hooked up bond, the next Exclusions are relevant to this Insuring Settlement: |
| (a) | loss ensuing instantly or not directly from the theft of confidential info, materials or knowledge: and |
| (b) | loss ensuing instantly or not directly from entries or modifications made by a person approved to have entry to a Pc System who acts in good religion on directions, until such directions are given to that particular person by a software program contractor (or by a associate, officer or worker thereof) approved by the Insured to design, develop, put together, provide service, write or implement packages for the Insureds Pc System. |
| 4. | The following parts of the hooked up bond will not be relevant to this Rider: |
| (a) | the preliminary paragraph of the bond previous the Insuring Agreements which reads …at any time however found throughout the Bond Interval. |
| (b) | Circumstances and Limitations – Part 9. Non-Discount and Non-Accumulation of Legal responsibility and Whole Legal responsibility |
| (c) | Circumstances and Limitations – Part 10. Restrict of Legal responsibility |
| 5. | The protection afforded by this Rider applies solely to loss found by the Insured throughout the interval this Rider is in drive. |
| 6. | All loss or sequence of losses involving the fraudulent exercise of 1 particular person, or involving fraudulent exercise wherein one particular person is implicated, whether or not or not that particular person is particularly recognized, shall be handled as one loss. A sequence of losses involving unidentified people however arising from the identical methodology of operation could also be deemed by the Underwriter to contain the identical particular person and in that occasion shall be handled as one loss. |
| 7. | The Restrict of Legal responsibility for the protection supplied by this Rider shall be $ 1,250,000. |
| 8. | The Underwriter shall be liable hereunder for the quantity by which one loss shall be in extra of $ 10,000. (herein referred to as the Deductible Quantity) however not in extra of the Restrict of Legal responsibility acknowledged above. |
| 9. | If any loss is roofed below this Insuring Settlement and every other Insuring Settlement or Protection, the utmost quantity payable for such loss shall not exceed the biggest quantity obtainable below anyone Insuring Settlement or Protection. |
| 10. | Protection below this Rider shall terminate upon termination or cancellation of the bond to which this Rider is hooked up. Protection below this Rider may be terminated or cancelled with out canceling the bond as an entirety: |
| (a) | 90 days after receipt by the Insured of written discover from the Underwriter of its need to terminate or cancel protection below this Rider, or |
| (b) | instantly upon receipt by the Underwriter of a written request from the Insured to terminate or cancel protection below this Rider. |
The
Underwriter shall refund to the Insured the unearned premium for this protection below this Rider. The refund shall be computed at quick
charges if this Rider is terminated or cancelled or reduces by discover from, or on the insistence of the Insured.
| 11. | Circumstances and Limitations – Part 4. Loss-Discover-Proof-Authorized Proceedings is amended by including the next sentence: |
Proof
of loss ensuing from Voice Directions or advices lined below this bond shall embody Digital Recording of such Voice Directions
of advices.
| 12. | However the foregoing, nonetheless, protection afforded by this Rider isn’t designed to offer safety in opposition to loss lined below a separate Digital and Pc Crime Coverage by no matter title assigned or by no matter Underwriter written. Any loss which is roofed below such separate coverage is excluded from protection below this bond; and the Insured agrees to make declare for such loss below its separate coverage. |
| 13. | Nothing herein contained shall be held to differ, alter, waive, or prolong any of the phrases, circumstances, provisions, agreements, or limitations of the above talked about bond apart from as acknowledged herein. |
| 14. | This Rider shall turn out to be efficient as of 12:01 a.m. on 09/01/2022 customary time. |
FI
75 08 (Ed. 08/15)
RIDER
NO. 3
NEWLY
ESTABLISHED FUNDS
To
be hooked up to and type a part of INVESTMENT COMPANY BOND,
Bond
No. FS 2045995 12 00
In
favor of Oak Associates Funds
It
is agreed that:
| 1. | If the Insured shall, whereas this bond is in drive, set up any new funds apart from by consolidation or merger with, buy or acquisition of property or liabilities of one other establishment, such funds shall mechanically be lined, hereunder from the date of such institution with out the fee of further premium for the rest of the Bond Interval. |
| 2. | Discover of any newly established funds throughout the Bond Interval are to be made to the Underwriter on the earliest practicable second and prior to the expiration date of the hooked up bond. |
| 3. | If the Insured shall, whereas this bond is in drive, require a rise within the Restrict of Legal responsibility of Insuring Settlement (A) Constancy in order to adjust to the Securities and Trade Fee Rule 17g-1 of the Funding Firm Act of 1940 (17 Code of Federal Laws § 270.17g-1) because of a rise in asset dimension of the at present named funds or through the addition of newly established funds by the Insured below the bond, such enhance within the Restrict of Legal responsibility for Insuring Settlement (A) Constancy (as required) shall mechanically be elevated as much as the minimal required and mandated by S.E.C. Rule 17g-1, however shall not exceed an each loss Restrict of Legal responsibility of $ 2,000,000 hereunder from the date of such enhance with out the fee of further premium for the rest of the Bond Interval. |
| 4. | Nothing herein contained shall be held to differ, alter, waive, or prolong any of the phrases, circumstances, provisions, agreements, or limitations of the above talked about bond apart from as acknowledged herein. |
| 5. | This Rider shall turn out to be efficient as of 12:01 a.m. on 09/01/2022 customary time. |
| FI 75 16 (Ed. 11/16) |
RIDER
NO. 4
INSURING
AGREEMENT (N) FRAUDULENT TRANSFER INSTRUCTIONS
To
be hooked up to and type a part of the INVESTMENT COMPANY BOND
| Bond No. |
FS 2045995 12 00 |
| in favor of |
Oak Associates Funds |
| 1. | It is agreed that the next Insuring Settlement is added to the above Bond: |
Loss
ensuing instantly from the Insured having, in good religion, transferred Cash on deposit in a Buyers account, or a Buyers
Certificated Securities, in reliance upon a fraudulent Instruction transmitted to the Insured through electronic message; supplied, nonetheless
that
| (1) | The fraudulent instruction purports, and fairly seems, to have originated from: |
| (b) | an Worker performing on directions of such Buyer; or |
| (c) | one other monetary establishment performing on behalf of such Buyer with authority to make such directions; and |
| (2) | The sender of the fraudulent instruction verified the instruction with the password, PIN, or different safety code of such Buyer; and |
| (3) | The sender was not, in truth, such Buyer, was not approved to behave on behalf of such Buyer, and was not an Worker of the Insured; and |
| (4) | The instruction was acquired by an Worker of the Insured particularly approved by the Insured to obtain and act upon such directions; and |
| (5) | For any switch exceeding the quantity set forth in merchandise 7 of this Rider, the Insured verified the instruction through a name again to a predetermined phone quantity set forth within the Insureds written settlement with such Buyer or different verification process permitted in writing by the Underwriter; and |
| (6) | The Insured preserved a contemporaneous report of the decision again, if any, and of the instruction which verifies use of the approved password, PIN or different safety code of the Buyer. |
| 2. | As used on this Rider, Buyer means a pure individual or entity which has a written settlement with the Insured authorizing the Insured to switch Cash on deposit in an account or Certificated Securities in reliance upon directions transmitted to the Insured through the means utilized to transmit the fraudulent instruction. |
| 3. | It shall be a situation precedent to protection below this Insuring Settlement that the Insured assert any obtainable claims, offsets or defenses in opposition to such Buyer, any monetary establishment or every other social gathering to the transaction. |
| 4. | The following further Exclusions are added to the Bond relevant solely to this Insuring Settlement: |
| (a) | loss ensuing instantly or not directly from the fraudulent instruction if the sender, or anybody performing in collusion with the sender, ever had approved entry to such Buyers password, PIN or different safety code; and |
| (b) | loss ensuing instantly or not directly from the fraudulent alteration of an instruction to provoke an automatic clearing home (ACH) entry, or group of ACH entries, transmitted as an digital message, or as an attachment to an electronic mail, despatched through the Web, until: |
| (1) | every ACH entry was individually verified through the decision again process with out regard to the quantity of the entry; or |
| (2) | the instruction was formatted, encoded or encrypted in order that any alteration within the ACH entry or group of ACH entries can be obvious to the Insured. |
| 5. | For functions of this Insuring Settlement, all loss or losses involving one pure individual or entity, or one group of pure individuals or entities performing collectively, shall be a Single Loss with out regard to the variety of transfers or the variety of directions concerned. A sequence of losses involving unidentified pure individuals or entities however arising from the identical methodology of operation shall be deemed to contain the identical pure individual or entity and shall be handled as Single Loss. |
| 6. | The Restrict of Legal responsibility and Deductible quantity relevant to loss below this Insuring Settlement is as acknowledged within the Declarations of the hooked up bond. |
| 7. | The quantity of any single switch for which verification through a name again will probably be required is : $ 10,000. |
| 8. | Nothing herein contained shall be held to differ, alter, waive, or prolong any of the phrases, circumstances, provisions, agreements, or limitations of the above talked about bond apart from as acknowledged herein. |
| 9. | This rider shall turn out to be efficient as of 12:01 a.m. on 09/01/2022 customary time. |
IL
73 24 (Ed. 07/21)
THIS
ENDORSEMENT CHANGES YOUR POLICY. PLEASE READ IT CAREFULLY.
GLOBAL
SANCTION ENDORSEMENT
However
every other provision of this Coverage, this insurance coverage can not present protection and the Insurer shall not be liable to pay any declare or present
any profit below this Coverage to the extent that the availability of such protection or profit, or the fee of such declare, would violate,
battle with, or expose the Insurer to any sanction, prohibition or restriction below United Nations resolutions or any relevant financial
or monetary sanctions or different commerce legal guidelines or laws, together with, however not restricted to, of the US of America, European Union,
United Kingdom, or Canada.
| FI 73 41 (Ed. 04/17) |
In
Witness Clause
In
Witness Whereof, now we have triggered this Monetary Establishment Bond to be executed and attested, and, if required by state regulation, this Monetary
Establishment Bond shall not be legitimate until countersigned by our approved consultant.
 |
 |
| PRESIDENT | SECRETARY |
Copyright
Nice American Insurance coverage Co., 2009
CERTIFIED RESOLUTIONS
I, Maggie Bull, Secretary of Oak
Associates Funds, hereby certify that the next resolutions had been adopted by the Board of Trustees of the Belief, together with a majority
of the Trustees who will not be “ individuals” of the Belief, at a gathering of the Board held on August 10, 2022:
WHEREAS: Oak Associates Funds (the “Belief”)
is required by Rule 17g-1 below the Funding Firm Act of 1940 (“1940 Act”) to keep up a constancy bond issued by a good
constancy insurance coverage firm in opposition to larceny and embezzlement, masking every officer and worker of the Belief, who could singly, or collectively
with others, have entry to securities or funds of the Belief and its sequence, both instantly or by authority to attract upon such funds
or to direct usually the disposition of such securities, until the officer or worker has such entry solely by his place
as an officer or worker of a financial institution (hereinafter known as “lined individuals”); and
WHEREAS: The constancy bond is within the
type of a blanket bond issued by Nice American Insurance coverage Firm with the protection quantity of $1,250,000 at an annual premium of $3,000
and which names the Belief as the one insured for the constancy bond’s protection interval of September 1, 2022 to September 1, 2023;
and
WHEREAS: The constancy bond is probably not
cancelled, terminated or modified besides after written discover shall have been given by the performing social gathering to the affected social gathering and to the
Securities and Trade Fee not lower than sixty days previous to the efficient date of cancellation, termination or modification;
and
WHEREAS: The Board of Trustees of the
Belief, together with a majority of the Trustees who will not be “ individuals” of the Belief as outlined by Part 2(a)(19) of
the 1940 Act, have decided that the constancy bond is affordable in type and quantity with due consideration to all related components together with,
however not restricted to, (i) the worth of the mixture property of the Belief to which any lined individual could have entry, (ii) the sort and
phrases of the preparations made for the custody and safekeeping of such property, and (iii) the character of the securities within the portfolio
of every sequence of the Belief; and
WHEREAS: The quantity of the constancy bond
is a minimum of equal to the quantity required by Rule 17g-1(d)(1) below the 1940 Act;
NOW THEREFORE, BE IT VOTED: That the
constancy bond within the type and quantity introduced at this assembly be, and hereby is, permitted; and be it
VOTED: That the Trustees hereby approve
and authorize the fee by the Belief of the annual premium on such constancy bond; and be it
VOTED: That the suitable officers
of the Belief be, and every of them hereby is, designated to make all filings with the Securities and Trade Fee and to provide all notices on behalf of the Belief
required by paragraph (g) of Rule 17g-1 promulgated below the 1940 Act; and be it
VOTED: That the suitable officers
of the Belief be, and every of them hereby is, approved to make any and all funds and to do any and all different acts, within the identify of
the Belief and on its behalf, as they, or any of them, could decide to be vital or fascinating and correct in reference to or in furtherance
of the foregoing resolutions; and be it
VOTED: That each one actions beforehand taken
by any officer or Trustee of the Belief in reference to the foregoing resolutions are hereby ratified, confirmed and permitted in all
respects.
November 29, 2022
/s/ Maggie Bull
Maggie Bull
Secretary of the Belief
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