POLICYHOLDER NOTICE
Thank you for purchasing insurance from the Chartis companies.
Chartis insurance companies generally pay compensation to brokers and
independent agents, and may have paid compensation in connection with your
policy. You can review and obtain information about the nature and range of
compensation paid by Chartis insurance companies to brokers and independent
agents in the United States by visiting our website at
www.chartisinsurance.com/producercompensation
or by calling 1-800-706-3102
.
National Union Fire Insurance Company of Pittsburgh, Pa.
POLICY NUMBER: 01-602-93-28 REPLACEMENT OF POLICY NUMBER: 01-541-28-26
INVESTMENT COMPANY BLANKET BOND
DECLARATIONS:
__________________________________________________________________________________
ITEM 1. Name of Insured (herein called Insured): THE DREYFUS FUND INCORPORATED
(AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
Principal Address: 200 PARK AVE
NEW YORK, NY 10166
______________________________________________________________________________________
ITEM 2. Bond Period: from 12:01 a.m. January 31, 2013 to January 31, 2014
the effective date of the termination or cancellation of this bond, standard time at the Principal Address as to each of said dates.
______________________________________________________________________________________
ITEM 3. Limit of Liability - Subject to Sections 9, 10 and 12 hereof,
|
Single Loss
Limit of Liability
|
Single Loss Deductible
|
Insuring Agreement A (Fidelity)-
|
$10,000,000
|
$50,000
|
Insuring Agreement B (Audit Expense)-
|
$250,000
|
$5,000
|
Insuring Agreement C (On Premises)-
|
$10,000,000
|
$50,000
|
Insuring Agreement D (In Transit)-
|
$10,000,000
|
$50,000
|
Insuring Agreement E (Forgery or Alteration)-
|
$10,000,000
|
$50,000
|
Insuring Agreement F (Securities)-
|
$10,000,000
|
$50,000
|
Insuring Agreement G (Counterfeit Currency)-
|
$10,000,000
|
$50,000
|
Insuring Agreement H (Stop Payment)-
|
$250,000
|
$25,000
|
Insuring Agreement I (Uncollectible Items of Deposit)-
Additional Coverages:
|
$1,000,000
|
$25,000
|
Computer Systems
|
$10,000,000
|
$50,000
|
Extended Computer Systems
|
$10,000,000
|
$50,000
|
Automated Phone System
|
$10,000,000
|
$50,000
|
Telefacimele Transfer Fraud
|
$10,000,000
|
$50,000
|
Voice Initiated Transfer Fraud
|
$10,000,000
|
$50,000
|
Destruction of Data Programs by Virus
|
$10,000,000
|
$50,000
|
Destruction of Data Programs by Hacker
|
$10,000,000
|
$50,000
|
If “Not Covered” is inserted above opposite any specified Insuring Agreement or Coverage, such Insuring Agreement or Coverage and any other reference thereto in this bond shall be deemed to be deleted therefrom.
_____________________________________________________________________________________
ITEM 4. Offices or Premises Covered-Offices acquired or established subsequent to the effective date of this bond are covered according to the terms of General Agreement A. All the Insured’s offices or premises in existence at the time this bond becomes effective are covered under this bond except the offices or premises located as follows:
No Exceptions
______________________________________________________________________________________
ITEM 5. The liability of the Underwriter is subject to the terms of the following riders attached thereto: Endorsements #1,#2, #3, #4, #5, #6, #7, #8, #9, #10, #11, #12, #13, #14, #15, #16, #17, #18, #19, #20, #21#22,#23,#24,#25,#26, #27, #28, #29, #30, #31, #32, #33, #34, #35, #36,
_______________________________________________________________________________
ITEM 6. The Insured by the acceptance of this bond gives to the Underwriter terminating or canceling prior bond(s) or policy(ies) No.(s) 01-541-28-26 such termination or cancellation to be effective as of the time this bond becomes effective.
________________________________________________________________________________
PREMIUM: $49,630
IN WITNESS WHEREOF
, the Insurer has caused this policy to be signed on the Declarations Page by its President, a Secretary and a duly authorized representative of the Insurer.
SECRETARY PRESIDENT
AUTHORIZED REPRESENTATIVE
National Union Fire Insurance Company
of Pittsburgh, Pa.
A capital stock
company
INVESTMENT
COMPANY BLANKET BOND
The Underwriter, in consideration of an
agreed premium, and subject to the Declarations made a part hereof, the General
Agreements, Conditions and Limitations and other terms of this bond, agrees
with the Insured, in accordance with the Insuring Agreements hereof to which an
amount of insurance is applicable as set forth in Item 3 of the Declarations
and with respect to loss sustained by the Insured at any time but discovered
during the Bond Period, to indemnify and hold harmless the Insured for:
INSURING AGREEMENTS
(A)
FIDELITY
Loss resulting
from any dishonest or fraudulent act(s), including Larceny or Embezzlement
committed by an Employee, committed anywhere and whether committed alone or in
collusion with others, including loss of Property resulting from such acts of
an Employee, which Property is held by the Insured for any purpose or in any
capacity and whether so held gratuitously or not and whether or not the Insured
is liable therefor.
Dishonest or
fraudulent act(s) as used in this Insuring Agreement shall mean only dishonest
or fraudulent act(s) committed by such Employee with the manifest intent:
(a)
to cause the Insured to sustain such loss; and
(b)
to obtain financial benefit for the Employee, or for any other person or
organization intended by the Employee to receive such benefit, other than
salaries, commissions, fees, bonuses, promotions, awards, profit sharing,
pensions or other employee benefits earned in the normal course of employment.
(B) AUDIT EXPENSE
Expense
incurred by the Insured for that part of the costs of audits or examinations
required by any governmental regulatory authority to be conducted either by
such authority or by an independent accountant by reason of the discovery of
loss sustained by the Insured through any dishonest or fraudulent act(s),
including Larceny or Embezzlement of any of the Employees. The total liability
of the Underwriter for such expense by reason of such acts of any Employee or
in which such Employee is concerned or implicated or with respect to any one
audit or examination is limited to the amount stated opposite Audit Expense in
Item 3 of the Declarations; it being understood, however, that such expense
shall be deemed to be a loss sustained by the Insured through any dishonest or
fraudulent act(s), including Larceny or Embezzlement of one or more of the
Employees and the liability under this paragraph shall be in addition to the
Limit of liability stated in Insuring Agreement (A) in Item 3 of the
Declarations.
(C) ON PREMISES
Loss of
Property (occurring with or without negligence or violence) through robbery,
burglary, Larceny, theft, holdup, or other fraudulent means, misplacement,
mysterious unexplainable disappearance, damage thereto or destruction thereof,
abstraction or removal from the possession, custody or control of the Insured,
and loss of subscription, conversion, redemption or deposit privileges through
the misplacement or loss of Property, while the Property is (or is supposed or
believed by the Insured to be) lodged or deposited within any offices or
premises located anywhere, except in an office listed in Item 4 of the
Declarations or amendment thereof or in the mail or with a carrier for hire
other than an armored motor vehicle company, for the purpose of transportation.
Offices and Equipment
(1)
Loss of or
damage to, furnishings, fixtures, stationery, supplies or equipment, within any
of the Insured's offices covered under this bond caused by Larceny or theft in,
or by burglary, robbery or holdup of such office, or attempt thereat, or by
vandalism or malicious mischief; or
(2)
loss through damage to any such office by Larceny or theft in, or by
burglary, robbery or holdup of such office or attempt thereat, or to the
interior of any such office by vandalism or malicious mischief provided, in any
event, that the Insured is the owner of such offices, furnishings, fixtures,
stationery, supplies or equipment or is legally liable for such loss or damage,
always excepting, however, all loss or damage through fire.
(D)
IN TRANSIT
Loss of
Property (occurring with or without negligence or violence) through robbery,
Larceny, theft, holdup, misplacement, mysterious unexplainable disappearance,
being lost or otherwise made away with, damage thereto or destruction thereof,
and loss of subscription, conversion, redemption or deposit privileges through
the misplacement or loss of Property, while the Property is in transit anywhere
in the custody of any person or persons acting as messenger, except while in
the mail or with a carrier for hire, other than an armored motor vehicle
company, for the purpose of transportation, such transit to begin immediately
upon receipt of such Property by the transporting person or persons, and to end
immediately upon delivery thereof at destination.
(E) FORGERY OR ALTERATION
Loss through
FORGERY or ALTERATION of, on or in any bills of exchange, checks, drafts,
acceptances, certificates of deposit. promissory notes, or other written
promises, orders or directions to pay sums certain in money, due bills, money
orders, warrants, orders upon public treasuries, letters of credit, written
instructions, advices or applications directed to the Insured, authorizing or
acknowledging the transfer, payment, delivery or receipt of funds or Property,
which instructions or advices or applications purport to have been signed or
endorsed by any customer of the Insured, shareholder or subscriber to shares,
whether certificated or uncertificated, of any Investment Company or by any
financial or banking institution or stockbroker but which instructions, advices
or applications either bear the forged signature or endorsement or have been
altered without the knowledge and consent of such customer, shareholder or
subscriber to shares, whether certificated or uncertificated, of an Investment
Company, financial or banking institution or stockbroker, withdrawal orders or
receipts for the withdrawal of funds or Property, or receipts or certificates
of deposit for Property and bearing the name of the Insured as issuer, or of
another Investment Company for which the Insured acts as agent, excluding,
however, any loss covered under Insuring Agreement (F) hereof whether or not
coverage for Insuring Agreement (F) is provided for in the Declarations of this
bond.
Any check or
draft (a) made payable to a fictitious payee and endorsed in the name of such
fictitious payee or (b) procured in a transaction with the maker or drawer
thereof or with one acting as an agent of such maker or drawer or anyone
impersonating another and made or drawn payable to the one so impersonated and
endorsed by anyone other than the one impersonated, shall be deemed to be
forged as to such endorsement.
Mechanically
reproduced facsimile signatures are treated the same as handwritten signatures.
(F) SECURITIES
Loss
sustained by the Insured, including loss sustained by reason of a violation of
the constitution, by-laws, rules or regulations of any Self Regulatory
Organization of which the Insured is a member or which would have been imposed
upon the Insured by the constitution, by-laws, rules or regulations of any Self
Regulatory Organization if the Insured had been a member thereof,
(1)
through the
Insured’s having, in good faith and in the course of business, whether for its
own account or for the account of others, in any representative, fiduciary,
agency or any other capacity, either gratuitously or otherwise, purchased or
otherwise acquired, accepted or received, or sold or delivered, or given any
value, extended any credit or assumed any liability, on the faith of, or
otherwise acted upon, any securities, documents or other written instruments
which prove to have been
(a)
counterfeited, or
(b) forged
as to the signature of any maker, drawer, issuer, endorser, assignor, lessee,
transfer agent or registrar, acceptor, surety or guarantor or as to the
signature of any person signing in any other capacity, or
(c)
raised or otherwise altered, or lost, or stolen, or
(2)
through the Insured’s having, in good faith and in the course of business,
guaranteed in writing or witnessed any signatures whether for valuable
consideration or not and whether or not such guaranteeing or witnessing is
ultra vires the Insured, upon any transfers, assignments, bills of sale, powers
of attorney, guarantees, endorsements or other obligations upon or in
connection with any securities, documents or other written instruments and
which pass or purport to pass title to such securities, documents or other
written instruments; EXCLUDING, losses caused by FORGERY or ALTERATION of, on
or in those instruments covered under Insuring Agreement (E) hereof.
Securities,
documents or other written instruments shall be deemed to mean original
(including original counterparts) negotiable or non-negotiable agreements which
in and of themselves represent an equitable interest, ownership, or debt,
including an assignment thereof which instruments are in the ordinary course of
business, transferable by delivery of such agreements with any necessary
endorsement or assignment.
The word
"counterfeited" as used in this Insuring Agreement shall be deemed to
mean any security, document or other written instrument which is intended to
deceive and to be taken for an original.
Mechanically
produced facsimile signatures are treated the same as handwritten signatures.
(G)
COUNTERFEIT
CURRENCY
Loss through
the receipt by the Insured, in good faith, of any counterfeited money orders or
altered paper currencies or coin of the United States of America or Canada
issued or purporting to have been issued by the United States of America or
Canada or issued pursuant to a United States of America or Canadian statute for
use as currency.
(H) STOP PAYMENT
Loss against
any and all sums which the Insured shall become obligated to pay by reason of
the Liability imposed upon the Insured by law for damages:
For having
either complied with or failed to comply with any written notice of any
customer, shareholder or subscriber of the Insured or any Authorized
Representative of such customer, shareholder or subscriber to stop payment of
any check or draft made or drawn by such customer, shareholder or subscriber
or any Authorized Representative of such customer, shareholder
or subscriber, or
For having
refused to pay any check or draft made or drawn by any customer, shareholder or
subscriber of the Insured or any Authorized Representative of such customer,
shareholder or subscriber.
(I)
UNCOLLECTIBLE
ITEMS OF DEPOSIT
Loss resulting
from payments of dividends or fund shares, or withdrawals permitted from any
customer’s, shareholder’s or subscriber’s account based upon Uncollectible
Items of Deposit of a customer, shareholder or subscriber credited by the
Insured or the Insured’s agent to such customer’s, shareholder’s or
subscriber’s Mutual Fund Account; or
loss resulting from any Item of
Deposit processed through an Automated Clearing House which is reversed by the
customer, shareholder or subscriber and deemed uncollectible by the Insured.
Loss includes dividends and
interest accrued not to exceed 15% of the Uncollectible Items which are
deposited.
This Insuring
Agreement applies to all Mutual Funds with “exchange privileges” if all Fund(s)
in the exchange program are insured by a National Union Fire Insurance Company
of Pittsburgh, PA for Uncollectible Items of Deposit. Regardless of the number
of transactions between Fund(s), the minimum number of days of deposit within
the Fund(s) before withdrawal as declared in the Fund(s) prospectus shall begin
from the date a deposit was first credited to any Insured Fund(s).
GENERAL AGREEMENTS
A . ADDITIONAL OFFICES OR EMPLOYEES-
CONSOLIDATION OR MERGER-NOTICE
1.
If the Insured shall, while this bond is in force, establish any additional
office or offices, such office or offices shall be automatically covered
hereunder from the dates of their establishment, respectively. No notice to the
Underwriter of an increase during any premium period in the number of offices
or in the number of Employees at any of the offices covered hereunder need be
given and no additional premium need be paid for the remainder of such premium
period.
2.
If an Investment Company, named as Insured herein, shall, while this bond
is in force, merge or consolidate with, or purchase the assets of another
institution, coverage for such acquisition shall apply automatically from the
date of acquisition. The Insured shall notify the Underwriter of such
acquisition within 60 days of said date, and an additional premium shall be
computed only if such acquisition involves additional offices or employees.
B.
WARRANTY
No statement
made by or on behalf of the Insured, whether contained in the application or
otherwise, shall be deemed to be a warranty of anything except that it is true
to the best of the knowledge and belief of the person making the statement.
C. COURT
COSTS AND ATTORNEYS' FEES
(Applicable to all Insuring Agreements
or Coverages now or hereafter forming part of this bond)
The
Underwriter will indemnify the Insured against court costs and reasonable
attorneys' fees incurred and paid by the Insured in defense, whether or not
successful, whether or not fully litigated on the merits and whether or not
settled of any suit or legal proceeding brought against the Insured to enforce
the Insured's liability or alleged liability on account of any loss, claim or
damage which, if established against the Insured, would constitute a loss
sustained by the Insured covered under the
terms of
this bond provided, however, that with respect to Insuring Agreement (A) this
indemnity shall apply only in the event that
(1)
an Employee admits to being guilty of any dishonest or fraudulent act(s),
including Larceny or Embezzlement; or
(2)
an Employee is adjudicated to be guilty of any dishonest or fraudulent act(s),
including Larceny or Embezzlement;
(3)
in the absence of (1) or (2) above an arbitration panel agrees, after a
review of an agreed statement of facts, that an Employee would be found guilty
of dishonesty if such Employee were prosecuted.
The Insured
shall promptly give notice to the Underwriter of any such suit or legal
proceeding and at the request of the Underwriter shall furnish it with copies
of all pleadings and other papers therein. At the Underwriter's election the
Insured shall permit the Underwriter to conduct the defense of such suit or
legal proceeding, in the Insured's name, through attorneys of the Underwriter's
selection. In such event, the Insured shall give all reasonable information and
assistance which the Underwriter shall deem necessary to the proper defense of
such suit or legal proceeding.
If the amount
of the Insured's liability or alleged liability is greater than the amount
recoverable under this bond, or if a Deductible Amount is applicable, or both,
the liability of the Underwriter under this General Agreement is limited to the
proportion of court costs and attorneys' fees incurred and paid by the Insured
or by the Underwriter that the amount recoverable under this bond bears to the
total of such amount plus the amount which is not so recoverable. Such
indemnity shall be in addition to the Limit of Liability for the applicable
Insuring Agreement or Coverage.
D. FORMER EMPLOYEE
Acts of an
Employee, as defined in this bond, are covered under Insuring Agreement (A)
only while the Employee is in the Insured's employ. Should loss involving a
former Employee of the Insured be discovered subsequent to the termination of
employment, coverage would still apply under Insuring Agreement (A) if the
direct proximate cause of the loss occurred while the former Employee performed
duties within 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
terms, as used in this bond, shall have the respective meanings stated in this
Section:
(a)
"Employee"
means:
(1) any
of the Insured's officers, partners, or employees, and
(2)
any of the officers or employees of any predecessor of the Insured whose
principal assets are acquired by the Insured by consolidation or merger with,
or purchase of assets or capital stock of such predecessor. and
(3) attorneys
retained by the Insured to perform legal services for the Insured and the
employees of such attorneys while such attorneys or the employees of such
attorneys are performing such services for the Insured, and
(4)
guest students
pursuing their studies or duties in any of the Insured's offices, and
(5)
directors or
trustees of the Insured, the investment advisor, underwriter (distributor),
transfer agent, or shareholder accounting record keeper, or administrator
authorized by written agreement to keep financial and/or other required
records, but only while performing acts coming within the scope of the usual
duties of an officer or employee or while acting as a member of any committee
duly elected or appointed to examine or audit or have custody of or access to
the Property of the Insured, and
(6) any
individual or individuals assigned to perform the usual duties of an employee
within the premises of the Insured, by contract, or by any agency furnishing
temporary personnel on a contingent or part-time basis, and
(7)
each natural person, partnership or corporation authorized by written
agreement with the Insured to perform services as electronic data processor of
checks or other accounting records of the Insured, but excluding any such
processor who acts as transfer agent or in any other agency capacity in issuing
checks, drafts or securities for the Insured, unless included under Sub-section
(9) hereof, and
(8)
those persons so designated in Section 15, Central Handling of Securities,
and
(9)
any officer, partner or Employee of
a)
an investment advisor,
b)
an underwriter (distributor),
c)
a transfer agent or shareholder accounting record-keeper, or
d)
an administrator authorized by written agreement to keep financial and/or
other required records,
for an
Investment Company named as Insured while performing acts coming within the
scope of the usual duties of an officer or Employee of any Investment Company
named as Insured herein, or while acting as a member of any committee duly
elected or appointed to examine or audit or have custody of or access to the
Property of any such Investment Company, provided that only Employees or
partners of a transfer agent, shareholder accounting record-keeper or
administrator which is an affiliated person as defined in the Investment
Company Act of 1940, of an Investment Company named as Insured or is an
affiliated person of the adviser, underwriter or
administrator
of such Investment Company, and which is not a bank, shall be included within
the definition of Employee.
Each employer
of temporary personnel or processors as set forth in Sub-Sections (6) and of
Section 1(a) and their partners, officers and employees shall collectively be
deemed to be one person for all the purposes of this bond, excepting, however,
the last paragraph of Section 13.
Brokers,
or other agents under contract or representatives of the same general character
shall not be considered Employees.
(b)
"Property" means money (i.e.. currency, coin, bank notes, Federal
Reserve notes), postage and revenue stamps, U.S. Savings Stamps, bullion,
precious metals of all kinds and in any form and articles made therefrom,
jewelry, watches, necklaces, bracelets, gems, precious and semi-precious
stones, bonds, securities, evidences of debts, debentures, scrip, certificates,
interim receipts, warrants, rights, puts, calls, straddles, spreads, transfers,
coupons, drafts, bills of exchange, acceptances, notes, checks, withdrawal
orders, money orders, warehouse receipts, bills of lading, conditional sales
contracts, abstracts of title, insurance policies, deeds, mortgages under real
estate and/or chattels and upon interests therein, and assignments of such
policies, mortgages and instruments, and other valuable papers, including books
of account and other records used by the Insured in the conduct of its
business, and all other instruments similar to or in the nature of the
foregoing including Electronic Representations of such instruments enumerated
above (but excluding all data processing records) in which the Insured has an
interest or in which the Insured acquired or should have acquired an interest
by reason of a predecessor's declared financial condition at the time of the
Insured's consolidation or merger with, or purchase of the principal assets of,
such predecessor or which are held by the Insured for any purpose or in any
capacity and whether so held by the Insured for any purpose or in any capacity
and whether so held gratuitously or not and whether or not the Insured is
liable therefor.
(c)
"Forgery" means the signing of the name of another with intent to
deceive; it does not include the signing of one's own name with or without
authority, in any capacity, for any purpose.
(d)
"Larceny
and Embezzlement" as it applies to any named Insured means those acts as
set forth in Section 37 of the Investment Company Act of 1940.
(e)
"Items of
Deposit" means any one or more checks and drafts. Items of Deposit shall
not be deemed uncollectible until the Insured's collection procedures have
failed.
SECTION 2. EXCLUSIONS
THIS BOND DOES NOT COVER:
(a)
loss effected directly or indirectly by means of forgery or alteration of, on
or in any instrument, except when covered by Insuring Agreement (A), (E), (F)
or (G).
(b)
loss due to riot or civil commotion outside the United States of America and
Canada; or loss due to military, naval or usurped power, war or insurrection
unless such loss occurs in transit in the circumstances recited in Insuring
Agreement (D), and unless, when such transit was initiated, there was no
knowledge of such riot, civil
commotion, military,
naval or usurped power, war or insurrection on the part of any person acting
for the Insured in initiating such transit.
(c)
loss, in time of peace or war, directly or indirectly caused by or resulting
from the effects of nuclear fission or fusion or radioactivity; provided,
however, that this paragraph shall not apply to loss resulting from industrial
uses of nuclear energy.
(d)
loss resulting from any wrongful act or acts of any person who is a member of
the Board of Directors of the Insured or a member of any equivalent body by
whatsoever name known unless such person is also an Employee or an elected
official, partial owner or partner of the Insured in some other capacity, nor,
in any event, loss resulting from the act or acts of any person while acting in
the capacity of a member of such Board or equivalent body.
(e)
loss resulting from the complete or partial non-payment of, or default upon,
any loan or transaction in the nature of, or amounting to, a loan made by or
obtained from the Insured or any of its partners, directors or Employees,
whether authorized or unauthorized and whether procured in good faith or
through trick, artifice, fraud or false pretenses. unless such loss is covered
under Insuring Agreement (A), (E) or (F).
(f)
loss resulting from any violation by the Insured or by any Employee
(1)
of law regulating (a) the issuance, purchase or sale of securities, (b)
securities transactions upon Security Exchanges or over the counter market, (c)
Investment Companies, or (d) Investment Advisors, or
(2) of
any rule or regulation made pursuant to any such law, unless such loss, in the
absence of such laws, rules or regulations, would be covered under Insuring
Agreements (A) or (E).
(g)
loss of Property or loss of privileges through the misplacement or loss of
Property as set forth in Insuring Agreement (C) or (D) while the Property is in
the custody of any armored motor vehicle company, unless such loss shall be in
excess of the amount recovered or received by the Insured under (a) the
Insured's contract with said armored motor vehicle company, (b) insurance
carried by said armored motor vehicle company for the benefit of users of its service,
and (c) all other insurance and indemnity in force in whatsoever form carried
by or for the benefit of users of said armored motor vehicle company's service,
and then this bond shall cover only such excess.
(h)
potential income, including but not limited to interest and dividends, not realized by the Insured because of a loss covered under this bond, except as included under Insuring Agreement (I).
(i)
all damages of any type for which the Insured is legally liable, except
direct compensatory damages arising from a loss covered under this bond.
(j)
loss through
the surrender of Property away from an office of the Insured as a result of a
threat
(1)
to do bodily harm to any person, except loss of Property in transit in the
custody of any person acting as messenger provided that when such transit was
initiated there was no knowledge by the Insured of any such threat, or
(2)
to do damage to the premises or Property of the Insured, except when covered
under Insuring Agreement (A).
(k)
all costs, fees
and other expenses
incurred by the Insured in
establishing the existence of or amount of loss covered under this bond unless
such indemnity is provided for under Insuring Agreement (B).
(l)
loss resulting from payments made or withdrawals from the account of a
customer of the Insured, shareholder or subscriber to shares involving funds
erroneously credited to such account, unless such payments are made to or
withdrawn by such depositor or representative of such person, who is within the
premises of the drawee bank of the Insured or within the office of the Insured
at the time of such payment or withdrawal or unless such payment is covered
under Insuring Agreement (A).
(m)
any loss resulting from Uncollectible Items of Deposit which are drawn
from a financial institution outside the fifty states of the United States of
America, District of Columbia, and territories and possessions of the United
States of America, and Canada.
SECTION 3. ASSIGNMENT OF RIGHTS
This bond does
not afford coverage in favor of any Employers of temporary personnel or of
processors as set forth in sub-sections (6) and (7) of Section 1(a) of this
bond, as aforesaid, and upon payment to the Insured by the Underwriter on
account of any loss through dishonest or fraudulent act(s) including Larceny or
Embezzlement committed by any of the partners, officers or employees of such
Employers, whether acting alone or in collusion with others, an assignment of such
of the Insured's rights and causes of action as it may have against such
Employers by reason of such acts so committed shall, to the extent of such
payment, be given by the Insured to the Underwriter, and the Insured shall
execute all papers necessary to secure to the Underwriter the rights herein
provided for.
SECTION 4. LOSS -NOTICE -PROOF-
LEGAL PROCEEDINGS
This bond is
for the use and benefit only of the Insured named in the Declarations and the
Underwriter shall not be liable hereunder for loss sustained by anyone other
than the Insured unless the Insured, in its sole discretion and at its option,
shall include such loss in the Insured's proof of loss. At the earliest
practicable moment after discovery of any loss hereunder the Insured shall give
the Underwriter written notice thereof and shall also within six months after
such discovery furnish to the Underwriter affirmative proof of loss with full
particulars. If claim is made under this bond for loss of securities or shares,
the Underwriter shall not be liable unless each of such securities or shares is
identified in such proof of loss by a certificate or bond number or, where such
securities or shares are uncertificated, by such identification means as agreed
to by the Underwriter. The Underwriter shall have thirty days after notice and
proof of loss within which to investigate the claim, but where the loss is
clear and undisputed, settlement shall be made within forty-eight hours; and
this shall apply notwithstanding the loss is made up wholly or in part of
securities of which duplicates may be obtained. Legal proceedings for recovery
of any loss hereunder shall not be brought prior 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, except that
any action or proceeding to recover hereunder on account of any judgment
against the Insured in any suit mentioned in General Agreement C or to recover
attorneys' fees paid in any such suit, shall be begun within twenty-four months
from the date upon which the judgment in such suit shall become final. If any
limitation embodied in this bond is prohibited by any law controlling the
construction hereof, such limitation shall be deemed to be amended so as to be
equal to the minimum period of limitation permitted by such law.
Discovery
occurs when the Insured
(a)
becomes aware of facts, or
(b) receives written notice of an actual or
potential claim by a third party which alleges that the Insured is liable under
circumstance
which would cause a reasonable person
to assume that a loss covered by the bond has been or will be incurred even
though the exact amount or details of loss may not be then known.
SECTION 5. VALUATION OF PROPERTY
The value of
any Property, except books of accounts or other records used by the Insured in
the conduct of its business, for the loss of which a claim shall be made
hereunder, shall be determined by the average market value of such Property on
the business day next preceding the discovery of such loss; provided, however,
that the value of any Property replaced by the Insured prior to the payment of
claim therefor shall be the actual market value at the time of replacement; and
further provided that in case of a loss or misplacement of interim
certificates, warrants, rights, or other securities, the production which is
necessary to the exercise of subscription, conversion, redemption or deposit
privileges, the value thereof shall be the market value of such privileges
immediately preceding the expiration thereof if said loss or misplacement is
not discovered until after their expiration. If no market price is quoted for
such Property or for such privileges, the value shall be fixed by agreement
between the parties or by arbitration.
In case of any
loss or damage to Property consisting of books of accounts or other records
used by the Insured in the conduct of its business, the Underwriter shall be
liable under this bond only if such books or records are actually reproduced
and then for not more than the cost of blank books, blank pages or other
materials plus the cost of labor for the actual transcription or copying of
data which shall have been furnished by the Insured in order to reproduce such
books and other records.
SECTION
6. VALUATION OF PREMISES AND FURNISHINGS
In case of
damage to any office of the Insured, or loss of or damage to the furnishings,
fixtures, stationery, supplies, equipment, safes or vaults therein, the Underwriter
shall not be liable for more than the actual cash value thereof, or for more
than the actual cost of their replacement or repair. The Underwriter may, at
its election, pay such actual cash value or make such replacement or repair. If
the Underwriter and the Insured cannot agree upon such cash value or such cost
of replacement or repair, such shall be determined by arbitration.
SECTION 7. LOST SECURITIES
If the Insured
shall sustain a loss of securities the total value of which is in excess of the
limit stated in Item 3 of the Declarations of this bond, the liability of the
Underwriter shall be limited to payment for, or duplication of, securities
having value equal to the limit stated in Item 3 of the Declarations of this
bond.
If the
Underwriter shall make payment to the Insured for any loss of securities, the
Insured shall thereupon assign to the Underwriter all of the Insured's rights,
title and interests in and to said securities.
With respect to
securities the value of which do not exceed the Deductible Amount (at the time
of the discovery of the loss) and for which the Underwriter may at its sole
discretion and option and at the request of the Insured issue a Lost Instrument
Bond or Bonds to effect replacement thereof, the Insured will pay the usual
premium charged therefor and will indemnify the Underwriter against all loss or
expense that the Underwriter may sustain because of the issuance of such Lost
Instrument Bond or Bonds.
With respect to
securities the value of which exceeds the Deductible Amount (at the time of
discovery of the loss) and for which the Underwriter may issue or arrange for
the issuance of a Lost Instrument Bond or Bonds to effect replacement thereof,
the Insured agrees that it will pay as premium therefor a proportion of the
usual premium charged therefor, said proportion being equal to the percentage
that the Deductible Amount bears
to the value of the
securities upon discovery of the loss, and that it will indemnify the issuer of
said Lost Instrument Bond or Bonds against all loss and expense that is not
recoverable from the Underwriter under the terms and conditions of this
INVESTMENT COMPANY BLANKET BOND subject to the Limit of Liability hereunder.
SECTION 8. SALVAGE
In case of
recovery, whether made by the Insured or by the Underwriter, on account of any
loss in excess of the Limit of Liability hereunder plus the Deductible Amount
applicable to such loss from any source other than suretyship, insurance,
reinsurance, security or indemnity taken by or for the benefit of the
Underwriter, the net amount of such recovery, less the actual costs and
expenses of making same, shall be applied to reimburse the Insured in full for
the excess portion of such loss, and the remainder, if any, shall be paid first
in reimbursement of the Underwriter and thereafter in reimbursement of the
Insured for that part of such loss within the Deductible Amount. The Insured
shall execute all necessary papers to secure to the Underwriter the rights
provided for herein.
SECTION 9. NON-REDUCTION AND NON-
ACCUMULATION OF LIABILITY AND TOTAL LIABILITY
At all times
prior to termination hereof this bond shall continue in force for the limit
stated in the applicable sections of Item 3 of the Declarations of this bond
notwithstanding any previous loss for which the Underwriter may have paid or be
liable to pay hereunder; PROVIDED, however, that regardless of the number of
years this bond shall continue in force and the number of premiums which shall
be payable or paid, the liability of the Underwriter under this bond with
respect to all loss resulting from
(a)
any one act of burglary, robbery or holdup, or attempt thereat, in which no
Partner or Employee is concerned or implicated shall be deemed to be one loss,
or
(b)
any one unintentional or negligent act on the part of any one person resulting
in damage to or destruction or misplacement of Property, shall be deemed to be
one loss, or
(c)
all wrongful acts, other than those specified in (a) above, of any one person
shall be deemed to be one loss, or
(d)
all wrongful acts, other than those specified in (a) above, of one or more
persons (which dishonest act(s) or act(s) of Larceny or Embezzlement include,
but are not limited to, the failure of an Employee to report such acts of
others) whose dishonest act or acts intentionally or unintentionally, knowingly
or unknowingly, directly or indirectly, aid or aids in any way, or permits the
continuation of, the dishonest act or acts of any other person or persons shall
be deemed to be one loss with the act or acts of the persons aided, or
(e)
any one
casualty or event other than those specified in (a), (b), (c) or (d) preceding,
shall be deemed to be one loss, and
shall
be limited to the applicable Limit of Liability stated in Item 3 of the
Declarations of this bond irrespective of the total amount of such loss or
losses and shall not be cumulative in amounts from year to year or from period
to period.
Sub-section (c)
is not applicable to any situation to which the language of sub-section (d)
applies.
SECTION 10. LIMIT OF LIABILITY
With respect to
any loss set forth in the PROVIDED clause of Section 9 of this bond which is
recoverable or recovered in whole or in part under any other bonds or policies
issued by the Underwriter to the Insured or to any predecessor in interest of
the Insured and terminated or cancelled or allowed to expire and in which the
period for discovery has not expired at the time any such loss thereunder is
discovered, the total liability of the Underwriter under this bond and under
other
bonds or policies shall not exceed, in the
aggregate, the amount carried hereunder on such loss or the amount available to
the Insured under such other bonds or policies, as limited by the terms and
conditions thereof, for any such loss if the latter amount be the larger.
SECTION 11. OTHER INSURANCE
If the Insured
shall hold, as indemnity against any loss covered hereunder, any valid and
enforceable insurance or suretyship, the Underwriter shall be liable hereunder
only for such amount of such loss which is in excess of the amount of such
other insurance or suretyship, not exceeding, however, the Limit of Liability
of this bond applicable to such loss.
SECTION 12. DEDUCTIBLE
The
Underwriter shall not be liable under 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 Section 9, NON-REDUCTION AND NON- ACCUMULATION OF LIABILITY
AND TOTAL LIABILITY, unless the amount of such loss, after deducting the net
amount of all reimbursement and/or recovery obtained or made by the Insured,
other than from any bond or policy of insurance issued by an insurance company
and covering such loss, or by the Underwriter on account thereof prior to
payment by the Underwriter of such loss, shall exceed the Deductible Amount set
forth in Item 3 of the Declarations hereof (herein called Deductible Amount)
and then for such excess only, but in no event for more than the applicable
Limit of Liability stated in Item 3 of the Declarations.
The Insured
will bear, in addition to the Deductible Amount, premiums on Lost Instrument
Bonds as set forth in Section 7.
There shall be
no deductible applicable to any loss under Insuring Agreement A sustained by
any Investment Company named as Insured herein.
SECTION 13. TERMINATION
The Underwriter
may terminate this bond as an entirety by furnishing written notice specifying
the termination date which cannot be prior to 60 days after the receipt of such
written notice by each Investment Company named as Insured and the Securities
and Exchange Commission, Washington, D.C. The Insured may terminate this bond
as an entirety by furnishing written notice to the Underwriter. When the
Insured cancels, the Insured shall furnish written notice to the Securities and
Exchange Commission, Washington. D.C. prior to 60 days before the effective
date of the termination. The Underwriter shall notify all other Investment
Companies named as Insured of the receipt of such termination notice and the
termination cannot be effective prior to 60 days after receipt of written
notice by all other Investment Companies. Premiums are earned until the
termination date as set forth herein.
This Bond will terminate as to any one Insured immediately upon taking over of such Insured by a receiver or other liquidator or by State or Federal officials, or immediately upon the filing of a petition under any State or Federal statute relative to bankruptcy or reorganization of the Insured, or assignment for the benefit
of creditors of the Insured. or immediately upon such Insured ceasing to exist, whether through merger into another entity, or by disposition of all of its assets.
The Underwriter
shall refund the unearned premium computed at short rates in accordance with
the standard short rate cancellation tables if terminated by the Insured or pro
rata if terminated for any other reason.
This Bond shall
terminate
(a)
as to any Employee as soon as any partner, officer or supervisory Employee of
the Insured, who is not in collusion with such Employee, shall learn of any
dishonest or fraudulent act(s), including Larceny or Embezzlement on the part
of such Employee without prejudice to the loss of any Property then in transit
in the custody of such Employee (See Section 16[d]), or
(b)
as to any Employee 60 days after receipt by each Insured and by the
Securities and Exchange Commission of a written notice
from the Underwriter of its desire to terminate this bond as to such Employee,
or
(c)
as to any person, who is a partner, officer or employee of any Electronic
Data Processor covered under this bond, from and after the time that the
Insured or any partner or officer thereof not in collusion with such person
shall have knowledge or information that such person has committed any
dishonest or fraudulent act(s), including Larceny or Embezzlement in the
service of the Insured or otherwise, whether such act be committed before or
after the time this bond is effective.
SECTION 14. RIGHTS AFTER TERMINATION
OR CANCELLATION
At any time
prior to the termination or cancellation of this bond as an entirety, whether
by the Insured or the Underwriter, the Insured may give to the Underwriter
notice that it desires under this bond an additional period of 12 months within
which to discover loss sustained by the Insured prior to the effective date of
such termination or cancellation and shall pay an additional premium therefor.
Upon receipt of
such notice from the Insured, the Underwriter shall give its written consent
thereto; provided, however, that such additional period of time shall terminate
immediately;
(a)
on the effective date of any other insurance obtained by the Insured, its
successor in business or any other party, replacing in whole or in part the
insurance afforded by this bond, whether or not such other insurance provides
coverage for loss sustained prior to its effective date, or
(b)
upon takeover of the Insured's business by any State or Federal official or
agency, or by any receiver or liquidator, acting or appointed for this purpose
without the necessity of the
Underwriter giving notice of such termination. In the event that such additional
period of time is terminated, as provided above, the Underwriter shall refund
any unearned premium.
The right to
purchase such additional period for the discovery of loss may not be exercised
by any State or Federal official or agency, or by any receiver or liquidator,
acting or appointed to take over the Insured's business for the operation or
for the liquidation thereof or for any other purpose.
SECTION 15. CENTRAL HANDLING OF
SECURITIES
Securities
included in the systems for the central handling of securities established and
maintained by Depository Trust Company, Midwest Depository Trust Company,
Pacific Securities Depository Trust Company, and Philadelphia Depository Trust
Company, hereinafter called Corporations, to the extent of the Insured's interest
therein as effective by the making of appropriate entries on the books and
records of such Corporations shall be deemed to be Property.
The words
"Employee" and "Employees" shall be deemed to include the
officers, partners, clerks and other employees of the New York Stock Exchange,
Boston Stock Exchange, Midwest Stock Exchange, Pacific Stock Ex- change and
Philadelphia Stock Exchange, hereinafter called Exchanges, and of the above
named Corporations, and of any nominee in whose name is registered any security
included within the systems for the central handling of securities established
and maintained by such Corporations, and any employee of any recognized service
company, while such officers, partners, clerks and other employees and
employees of service companies perform services for such Corporations in the
operation of such systems. For the purpose of the above definition a recognized
service company shall be any company providing clerks or other personnel to
said Exchanges or Corporation on a contract basis.
The Underwriter
shall not be liable on account of any loss(es) in connection with the central
handling of securities within the systems established and maintained by such
Corporations, unless such loss(es) shall be in excess of
the amount(s) recoverable or recovered under any bond or policy of insurance
indemnifying such Corporations, against such loss(es), and then the Underwriter
shall be liable hereunder only for the Insured's share of such excess loss(es),
but in no event for more than the Limit of Liability applicable hereunder.
For the purpose
of determining the Insured's share of excess loss(es) it shall be deemed that
the Insured has an interest in any certificate representing any security
included within such systems equivalent to the interest the Insured then has in
all certificates representing the same security included within such systems
and that such Corporations shall use their best judgement in apportioning the
amount(s) recoverable or recovered under any bond or policy of insurance
indemnifying such Corporations against such loss(es) in connection with the
central handling of securities within such systems among all those having an
interest as recorded by appropriate entries in the books and records of such
Corporations in Property involved in such loss(es) on the basis that each such
interest shall share in the amount(s) so recoverable or recovered in the ratio
that the value of each such interest bears to the total value of all such
interests and that the Insured's share of such excess loss(es) shall be the
amount of the Insured's interest in such Property in excess of the amount(s) so
apportioned to the Insured by such Corporations.
This bond does
not afford coverage in favor of such Corporations or Exchanges or any nominee
in whose name is registered any security included within the systems for the
central handling of securities established and maintained by such Corporations,
and upon payment to the Insured by the Underwriter on account of any loss(es)
within the systems, an assignment of such of the Insured's rights and causes of
action as it may have against such Corporations or Exchanges shall to the
extent of such payment, be given by the Insured to the Underwriter, and the
Insured shall execute all papers necessary to secure to the Underwriter the
rights provided for herein.
SECTION 16. ADDITIONAL COMPANIES
INCLUDED AS
INSURED
If more than
one corporation, co-partnership or person or any combination of them be
included as the Insured herein:
(a)
the total liability of the Underwriter hereunder for loss or losses sustained
by any one or more or all of them shall not exceed the limit for which the
Underwriter would be liable hereunder if all such loss were sustained by any
one of them,
(b)
the one first named herein shall be deemed authorized to make, adjust and
receive and enforce payment of all claims hereunder and shall be deemed to be
the agent of the others for such purposes and for the giving or receiving of
any notice required or permitted to be given by the terms hereof, provided that
the Underwriter shall furnish each named Investment Company with a copy of the
bond and with any amendment thereto, together with a copy of each formal filing
of the settlement of each such claim prior to the execution of such settlement,
(c)
the Underwriter
shall not be responsible for the proper application of any payment made
hereunder to said first named Insured,
(d)
knowledge possessed or discovery made by any partner, officer or supervisory
Employee of any Insured shall for the purposes of Section 4 and Section 13 of
this bond constitute knowledge or discovery by all the Insured, and
(e)
if the first named Insured ceases for any reason to be covered under this
bond, then the Insured next named shall thereafter be considered as the first
named Insured for the purposes of this bond.
SECTION 17. NOTICE AND CHANGE OF
CONTROL
Upon the
Insured's obtaining knowledge of a transfer of its outstanding voting
securities which results in a change in control (as set
forth
in Section 2(a) (9) of the Investment Company Act of 1940) of the Insured, the
Insured shall within thirty (30) days of such knowledge give written notice to
the Underwriter setting forth:
(a)
the names of the transferors and transferees (or the names of the beneficial
owners if the voting securities are requested in another name), and
(b)
the total number of voting securities owned by the transferors and the
transferees (or the beneficial owners), both immediately before and after the
transfer, and
(c)
the total number of outstanding voting securities.
As used in this
section, control means the power to exercise a controlling influence over the
management or policies of the Insured.
Failure to give
the required notice shall result in termination of coverage of this bond,
effective upon the date of stock transfer for any loss in which any transferee
is concerned or implicated.
Such notice is
not required to be given in the case of an Insured which is an Investment
Company.
SECTION 18. CHANGE OR MODIFICATION
This bond or
any instrument amending or effecting same may not be changed or modified
orally. No changes in or modification thereof shall be effective unless made by
written endorsement issued to form a part hereof over the signature of the
Underwriter's Authorized Representative. When a bond covers only one Investment
Company no change or modification which would adversely affect the rights of
the Investment Company shall be effective prior to 60 days after written
notification has been furnished to the Securities and Exchange Commission,
Washington, D.C. by the Insured or by the Underwriter. If more than one
Investment Company is named as the Insured herein, the Underwriter shall give
written notice to each Investment Company and to the Securities and Exchange
Commission, Washington, D.C. not less than 60 days prior to the
effective
date of any change or modification which would adversely affect the rights of
such Investment Company.
IN WITNESS WHEREOF, the Underwriter has
caused this bond to be executed on the Declarations Page.
ENDORSEMENT# 1
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
NEW
YORK STATUTORY RIDER/ENDORSEMENT
It is agreed
that:
1. The
Section13 entitled "Termination " of this bond/policy is amended by
adding:
2. Cancelation
of this bond/policy by the Underwriter/Company is subject to the following
provisions:
If
the bond/policy has been in effect for 60 days or less, it may be cancelled by
the Underwriter/Company for any reason. Such cancelation shall be effective 20
days after the Underwriter/Company mails a notice of cancel ation to the
first-named insured at the mailing address shown in the bond/policy. However,
if the bond/policy has been in effect for more than 60 days or is a renewal,
then cancellation must be based on one of the following grounds:
(A)
non-payment of premium;
(B) conviction of a crime arising out of acts increasing the
hazard insured against;
(C) discovery of fraud or material misrepresentation in the
obtaining of the bond/policy or in the presentation of claim thereunder;
(D) after issuance of the bond/policy or after the last renewal
date, discovery of an act or omission, or a violation of any bond/policy
condition that substantially and materially increases the hazard insured
against, and which occurred subsequent to inception of the current bond/policy
period;
(E) material change in the nature or extent of the risk,
occurring after issuance or last annual renewal anniversary date of the
bond/policy, which causes the risk of loss to be substantially and materially
increased beyond that contemplated at the time the bond/policy was issued or
last renewed;
(F) the cancellation is required pursuant to a determination
by the superintendent that continuation of the present premium volume of the
insurer would jeopardize that insurer's solvency or be hazardous to the
interests of the insureds, the insurer's creditors or the public;
(G) a determination by the superintendent that the
continuation of the bond/policy would violate, or would place the insurer in
violation of, any provision of the New York State insurance laws.
(H) where the insurer has reason to believe, in good faith and
with sufficient cause, that there is a possible risk or danger that the
insured property will be destroyed by the insured for the purpose of collecting
the insurance proceeds, provided, however, that:
(i) a notice of cancelation on this ground shall inform the
insured in plain language that the insured must act within ten days if review
by the Insurance Department of the State of New York of the ground for
cancelation is desired, and
(ii) notice of cancelation on this ground shall be provided
simultaneously by the insurer to the Insurance Department of the State of New
York. Cancelation based on one of the above grounds shall be effective 15 days
after the notice of cancellation is mailed or delivered to the named insured,
at the address shown on the bond/policy, and to its authorized agent or broker.
3. If
the Underwriter/Company elects not to replace a bond/policy at the termination
of the bond/policy period, it shall notify the insured not more than 120 days
nor less than 60 days before termination. If such notice is given late, the
bond/policy shall continue in effect for 60 days after such notice is given.
The Aggregate Limit of Liability shall not be increased or reinstated. The notice
not to replace shall be mailed to the insured and its broker or agent.
4. If
the Underwriter/Company elects to replace the bond/policy, but with a change of
limits, reduced coverage, increased deductible, additional exclusion, or upon
increased premiums in excess of ten percent (exclusive of any premium increase
as a result of experience rating), the Underwriter must mail written notice to
the insured and its agent or broker not more than 120 days nor less than 60
days before replacement. If such notice is given late, the replacement
bond/policy shall be in effect with the same terms, conditions and rates as the
terminated bond/policy for 60 days after such notice is given.
5. The
Underwriter/Company may elect to simply notify the insured that the bond/policy
will either be not renewed or renewed with different terms, conditions or
rates. In this event, the Underwriter/Company will inform the insured that a
second notice will be sent at a later date specifying the
Underwriter's/Company's exact intention. The Underwriter shall inform the
insured that, in the meantime, coverage shall continue on the same terms,
conditions and rates as the expiring bond/policy until the expiration date of
the bond/policy or 60 days after the second notice is mailed or delivered,
whichever is later.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 2
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
VOICE
INITIATED TRANSFER FRAUD
It is agreed that:
The attached bond is amended by adding an Insuring
Agreement as follows:
VOICE INITIATED TRANSFER
FRAUD
Loss resulting directly from the Insured having, in good
faith, transferred Property from a Customer’s or Insured’s account through a
Computer System covered under the terms of the Computer System Fraud Insuring
Agreement in reliance upon a fraudulent voice instruction transmitted by
telephone which was purported to be from:
(1) an officer, director, partner or
employee of a Customer of the Insured who was authorized by the Customer to
instruct the Insured to make such transfer;
(2) an individual person who is a
Customer of the Insured; or
(3) an Employee of the Insured in
another office of the Insured who was authorized by the Insured to instruct
other Employees of the Insured to transfer Property, and was received by an
Employee of the Insured specifically designated to receive and act upon such
instructions,
but the voice instruction was not from a person
described in (1), (2), or (3) above, provided that
(i)
in order for coverage to apply under this
Insuring Agreement, Voice Initiated Transfer must be received and processed in
accordance with the Insured’s designated procedures. However, the isolated failure of the Insured to maintain
and follow its designated procedures in a particular instance will not preclude
coverage under this Insuring Agreement. Provided
that the Insured is able to demonstrate that the procedures were being followed
immediately before and after the occurrence.
In this Insuring Agreement:
(A) Customer means an entity or
individual which has a written agreement with the Insured authorizing the
Insured to rely on voice instructions to make transfers and which has provided
the Insured with the names of persons authorized to initiate such.
2.
In addition to the Conditions and
Limitations in the bond and Computer Systems Fraud Insuring Agreement rider,
the following provisions are applicable to the Voice Initiated Transfer Fraud
Insuring Agreement:
This Insuring Agreement does not cover loss resulting
directly or indirectly from the assumption of liability by the Insured by
contract unless the liability arises from a loss covered by this Insuring
Agreement and would be imposed on the Insured regardless of the existence of
the contract.
3.
Nothing herein contained shall be held to
vary, alter, waive or extend any of the terms, limitations, conditions or
agreements of the attached bond other than as above stated.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 3
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
TELEFACSIMILE
TRANSFER FRAUD
It is agreed
that:
1.
The attached bond is amended by adding an Insuring Agreement J as
follows:
TELEFACSIMILE TRANSFER
FRAUD
Loss
resulting directly from the Insured having, in good faith, transferred or
delivered Property in reliance upon a fraudulent instruction received through a
Telefacsimile Device, and which instruction
(1)
purports and reasonably appears to have originated from
(a)
a Customer of the Insured,
(b)
another financial institution, or
(c)
another office of the Insured
but,
in fact, was not originated by the Customer or entity whose identification it bears
and
In order for coverage to apply under this Insuring
Agreement, Telefacsimile Transfer must be received and processed in accordance
with the Insured’s designated procedures. However, the isolated failure of the
Insured to maintain and follow its designated procedures in a particular
instance will not preclude coverage under this Insuring Agreement. Provided,
however, that the Insured is able to demonstrate that said procedures were
implemented and being followed both before and after the occurrence.
2. In
addition to the Conditions and Limitations in the bond and Computer Systems
Fraud Insuring Agreement rider, the following provisions are applicable to the
Telefacsimile Transfer Fraud Insuring Agreement:
Customer means an entity or individual which
has a written agreement with the Insured authorizing the Insured to rely on
telefacsimile instructions to make transfers.
Telefacsimile
Device means a machine capable of sending or receiving a duplicate image of a
document by means of electronic impulses transmitted through a telephone line
and which reproduces the duplicate image on paper.
This
Insuring Agreement does not cover loss resulting directly or indirectly from
the assumption of liability by the Insured by contract unless the liability
arises from a loss covered by the Telefacsimile Transfer Fraud Insuring
Agreement and would be imposed on the Insured regardless of the existence of
the contract.
Proof
of loss for claim under the Telefacsimile Transfer Fraud Insuring Agreement
must include a copy of the document reproduced by the Telefacsimile Device.
3. Nothing
herein contained shall be held to vary, alter, waive or extend any of the
terms, limitations, conditions or agreements of the attached bond other than as
above stated.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 4
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
NEW
YORK LAW 3420 AMENDATORY ENDORSEMENT
Wherever
used in this endorsement: 1) "we", "us", "our"
and "Insurer" mean the insurance company which issued this policy;
2) "you", "your", "Insured" and "first Named
Insured" mean the Named Corporation, Named Entity, Named Organization,
Named Sponsor, Named Insured, or Insured stated in the declarations page; 3)
"other insured(s)" means all other persons or entities afforded
coverage under the policy; 4) "Discovery Period" means Discovery
Period or Extended Reporting Period, as defined in the policy; and 5)
"Claim" means Claim or Suit as defined in the policy.
It is hereby
understood and agreed that the policy is amended as follows:
A. The
following provisions are hereby added to the policy:
FAILURE TO GIVE NOTICE WITHIN
PRESCRIBED TIME:
Failure
to give any notice required to be given by this policy, or any policy of which
this is a renewal, within the prescribed time shall not invalidate any Claim
made against an Insured if:
(a) it shall
be shown not to have been reasonably possible to give notice within the
prescribed time and that notice was given as soon as was reasonably possible
thereafter; or
(b) the failure
to provide timely notice has not prejudiced the Insurer.
Any
such Claim shall be deemed to have been first made against the Insured and
noticed to the Insurer within the Policy Period or Discovery Period of the policy
issued by the Insurer (the "Noticed Policy") in which the Insurer received
notice of the Claim; provided that the coverage afforded with respect to the
Noticed Policy shall be in an amount
not greater than
the amount of coverage
afforded with respect to the Policy Period of the policy issued by the Insurer
(the "Former Policy") in which the Claim was actually first made against
the Insured. The foregoing sentence may result in (but not be limited to): (1)
reducing the limit of liability available for such a Claim to the available limit
of liability applicable to the Former Policy; (2) increasing the applicable retention
amount to that retention amount applicable to the Former Policy; or (3)
reducing or eliminating coverage due to exclusions or other restrictions appearing
in the Former Policy but eliminated, in part or in whole, in the Noticed
Policy. No coverage shall be afforded under this endorsement if there was not
in existence a Former Policy at the time the Claim was actually first made
against the Insured.
With
respect to subsection (b) above, any such Claim must be noticed during the
Policy Period or Discovery Period of a Noticed Policy which is a renewal or
extension of the Former Policy.
Nothing
in this endorsement shall be construed to provide coverage for a Claim under
more than one Policy Period or Discovery Period.
PREJUDICE:
In the event
that the Insurer alleges that it was prejudiced as a result of a failure to
give notice within the time required under the policy, the burden of proof
shall be on:
(a) the
Insurer to prove that it has been prejudiced, if the notice was provided within
two years of the time required under the policy; or
(b) the
Insured to prove that the Insurer has not been prejudiced, if the notice was
provided more than two years after the time required under the policy.
The
Insurer's rights shall not be deemed prejudiced unless the failure to timely provide
notice materially impairs the ability of the Insurer to investigate or defend
the Claim.
Notwithstanding
the above, an irrebuttable presumption of prejudice shall apply if, prior to
the notice, the Insured's liability has been determined by a court of competent
jurisdiction or by a binding arbitration; or if the Insured has resolved the
Claim by settlement or other compromise.
NOTICE TO AGENT:
Notice
given by or on behalf of the Insured, or written notice by or on behalf of the
injured party or any other claimant, to any licensed agent of the Insurer in
the state of New York, with particulars sufficient to identify the Insured, shall
be deemed notice to the Insurer.
INSOLVENCY/BANKRUPTCY
OF INSURED:
The
insolvency or bankruptcy of the Insured shall not relieve the Insurer of its obligations
under this policy as long as all policy requirements are met by Insured, its
trustee or receiver in bankruptcy. Should a covered judgment be rendered
against an insolvent or bankrupt Insured, the Insurer shall be liable for the
amount of such judgment not to exceed the applicable limit of liability under
this policy.
B. The
Clause entitled, " Action Against Us " or " Action Against
Company " is deleted in its entirety and replaced with the following:
No
one may bring an action against us unless there has been full compliance with
all the terms of this policy and the amount of the Insured's obligation to pay
has been finally determined either by:
1. judgment
against the Insured which remains unsatisfied at the expiration of thirty (30)
days from the service of notice of entry of the judgment upon the Insured and
upon us; or
2. written
agreement of the Insured, the claimant and us.
Any
person or organization or legal representative thereof who has secured such
judgment or written agreement shall thereafter be entitled to recover under
this policy to the extent of the insurance afforded by this policy. We may not
be impleaded by the Insured or its legal representative in any legal action
brought against the Insured by any person or organization.
ALL OTHER
TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 5
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
NOTICE
OF CLAIM
(REPORTING
BY E-MAIL)
In
consideration of the premium charged, it is hereby understood and agreed as
follows:
1. Email
Reporting of Claims : In addition to the postal address set forth for any
Notice of Claim Reporting under this policy, such notice may also be given in
writing pursuant to the policy's other terms and conditions to the Insurer by
email at the following email address:
c-claim@chartisinsurance.com
Your
email must reference the policy number for this policy. The date of the Insurer's
receipt of the emailed notice shall constitute the date of notice.
In addition to
Notice of Claim Reporting via email, notice may also be given to the Insurer by
mailing such notice to: Chartis,
Financial Lines Claims, P.O. Box 25947,
Shawnee
Mission, KS 66225
or faxing such notice to (866) 227-1750.
2. Definitions
: For this endorsement only, the following definitions shall apply:
(a) "Insurer"
means the "Insurer," "Underwriter" or "Company"
or other name specifically ascribed in this policy as the insurance company or
underwriter for this policy.
(b) "Notice
of Claim Reporting" means "notice of claim/circumstance,"
"notice of loss" or other reference in the policy designated for
reporting of claims, loss or occurrences or situations that may give rise or
result in loss under this policy.
(c) "Policy"
means the policy, bond or other insurance product to which this endorsement is
attached.
3. This
endorsement does not apply to any Kidnap & Ransom/Extortion Coverage Section,
if any, provided by this policy.
ALL OTHER
TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 6
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AUTOMATED
TELEPHONE TRANSACTIONS
It is agreed
that this Bond is amended as follows:
1. By
adding the following INSURING AGREEMENT:
AUTOMATED
PHONE SYSTEM
Loss
resulting directly from the Insured having transferred funds on the faith of
any Automated Phone System (APS) Transaction, where the request for such APS
Transaction is unauthorized or fraudulent and is made with the intent to
deceive. In order for coverage to apply under this INSURING CLAUSE the INSURED
shall maintain and follow all APS Designated Procedures with respect to APS
Transactions. The isolated failure of the INSURED to maintain and follow a
particular APS Designated Procedure in a particular instance will not preclude
coverage under this INSURING CLAUSE subject to the exclusions herein and in the
Bond.
2. By adding to the
DEFINITIONS SECTION, the following:
Automated
Phone System or APS means an automated system which receives and converts to
executable instructions transmissions over the telephone through use of a
touch-tone keypad or other tone system or voice recognition system; and always
excluding transmissions from a computer system or part thereof.
APS Transaction means any
APS Purchase, APS Redemption, APS Election or APS Exchange.
APS Purchase means any
purchase of shares issued by an Investment Company which is requested through
an Automated Phone System.
APS Redemption means any
redemption of shares issued by an Investment Company which is requested over
the telephone by means of information transmitted by an individual caller
through use of a telephone keypad or voice recognition system.
APS
Election means any election concerning various account features available to
Fund shareholders which is made over the telephone by means of information
transmitted by an individual caller through use of a telephone keypad or voice
recognition system. These features include account statements. auto exchange,
auto asset builder, automatic withdrawal, dividend/capital gain options.
dividend sweep. telephone balance consent and change of address.
APS Exchange means any
exchange of shares in a registered account of one Fund into shares in an
account with the same tax identification number and same ownership-type code of
another Fund in the same complex pursuant to exchange privileges of the two
Funds, which exchange is requested over the telephone by means of information
transmitted by an Individual caller through use of a telephone keypad or voice
recognition system.
APS Designated Procedures
means all of the following procedures:
(1)
Election
in Application:
No APS Redemption shall be executed unless the shareholder to
whose account such an APS Redemption relates has previously elected
to
permit Telephone Redemptions.
(2)
Logging
:
All APS Purchases, Redemptions or Exchanges shall be logged or otherwise
recorded and the records shall be retained for at least six (6) months.
(a) Information contained in the records shall be capable of
being retrieved and produced within a reasonable time after retrieval of
specific information is requested, at a success rate of no less
than 85
percent.
(3)
Identity
Test:
The caller in any request for an APS Transaction, must first input
his/her account number, the last four digits of his/her social security number,
and finally, his/her personal identification number (“PIN”). It is proposed
that in addition to this procedure, a customer may:
(1) Begin by saying or pressing his/her account number, then
say or press his/her PIN, or
(2) Begin by saying or pressing his/her social security
number, then say or press his/her PIN and lastly, say name of fund or account
number (or press account number).
(3)
Limited attempts to Enter PIN:
If the caller fails
to enter a correct PIN within (3) three attempts, the caller must not be
allowed additional attempts during the same telephone call to enter the PIN.
The caller may either be instructed to redial a customer service representative
or may be immediately connected to such a representative.
(4)
Written Confirmation:
A written confirmation of
any APS Purchase, Redemption, Exchange or change of address shall be mailed to
the shareholder(s) to whose account such transaction relates, at the record
address, by the end of the insured's next regular processing cycle, but in no
event later than five (5) business days following such APS Transaction.
(5)
Access to APS Equipment:
Access to the equipment
which permits the entity receiving the APS Transaction request to process and
effect the transaction shall be limited in the following manner: BNY MELLON
INVESTMENT SERVICING, INC., accesses the hardware housing the Mutual Fund
On-Line system which effects transactions.
3.
By adding the following SECTION after Section 2, EXCLUSIONS
SPECIFIC TO AUTOMATED PHONE SYSTEMS INSURING AGREEMENT:
This bond does not directly
or indirectly cover under AUTOMATED PHONE SYSTEMS INSURING AGREEMENT:
Any loss resulting from:
(1) The
redemption of shares, where the proceeds of such redemption are made payable to
other than (i) the shareholder of record, or (ii) a person designated to
receive redemption proceeds, or (iii) a bank account designated to receive
redemption proceeds, or
(2) The
redemption of shares, where the proceeds of such redemption are paid by check
mailed to an address that has been changed within thirty (30) days immediately
preceding the redemption, unless (i) the change of address was signature
guaranteed or (ii) the change of address was otherwise processed in accordance
with APS Designated Procedures, or
(3) The
redemption of shares, where the proceeds of such redemption are paid by wire
transfer to other than the shareholders designated bank account of record, or
(4) The
intentional failure to adhere to one or more APS Designated Procedures.
ALL OTHER TERMS AND
CONDITIONS OF THIS BOND REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 7
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMENDED
FIDELITY AGREEMENT
In
consideration of the premium charged, it is hereby understood and agreed that:
1. Insuring
Agreement (A) FIDELITY is hereby deleted in its entirety and replaced with the
following:
(A) Loss resulting directly from dishonest or fraudulent
act(s), including Larceny or Embezzlement committed by an Employee, committed
anywhere and whether committed alone or in collusion with others including loss
of Property resulting from such acts of an Employee, which Property is held by
the Insured for any purpose or in any capacity and whether or not the Insured
is liable thereof.
Dishonest or fraudulent act(s) as used in this Insuring
Agreement shall mean only dishonest or fraudulent act(s) committed by such
Employee with the intent:
(a) to cause the Insured to sustain such loss; or
(b)
to obtain financial benefit for the Employee, or for any other
person or organization intended by the Employee to receive such benefit, other
than salaries, commissions, fees, bonuses, promotions, awards, profit sharing,
pensions or other employee benefits earned in the normal course of employment.
It
is agreed that in determining the amount of any loss payable under this bond,
the Insured may include payments to individual Employees which are salaries,
commissions, fees, bonuses, and the like, as part of such loss, provided that
such payments have been solely as the result of the Employee having committed a
dishonest or fraudulent act covered under this bond.
(B)
Loss resulting directly from the malicious destruction of or the
malicious damage to Electronic Instructions, Electronic Data or Electronic
Media committed by an Employee, whether committed alone or in collusion with
others.
The
liability of the Underwriter shall be limited to the cost of duplication of
such Electronic Instructions, Electronic Data or Electronic Media from other
Electronic Instructions, Electronic Data or Electronic Media which shall have
been furnished by the Insured.
In
the event, however, that destroyed or damaged Electronic Instructions,
Electronic Data or Electronic Media cannot be duplicated from other Electronic
Instructions, Electronic Data or Electronic Media, the Insurer will pay the
cost incurred for computer time, computer programmers, consultants or other
technical specialists as is reasonably necessary to restore the Electronic
Instructions, Electronic Data or Electronic Media to substantially the previous
level of operational capability.
2.
Nothing herein contained shall be held to vary, alter, waive or
extend any of the terms, limitations conditions or agreements of the attached
policy other than as above stated.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 8
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
DESTRUCTION
OF DATA BY VIRUS
It is agreed
that the following Insuring Agreement is added to the bond:
DESTRUCTION OF DATA OR
PROGRAMS BY VIRUS
Loss resulting directly from the malicious destruction of or
damage to, Electronic Data or Computer Programs owned by the Insured or for
which the Insured is legally liable while stored within a Computer System
covered under the terms of the Computer Systems rider attached to this bond if
such destruction or damage was caused by a computer program or similar
instruction which was written or altered to incorporate a hidden instruction
designed to destroy or damage Electronic Data or Computer Programs in the
Computer System in which the computer program or instruction so written or so
altered is used.
The
liability of the Company shall be limited to the cost of duplication of such
Electronic Data or Computer Programs from other Electronic Data or Computer
Programs which shall have been furnished by the Insured.
In
the event, however, that destroyed or damaged Computer Programs cannot be
duplicated from other Computer Programs, the Company will pay the cost incurred
for computer time, computer programmers, consultants or other technical
specialists as is reasonably necessary to restore Computer Programs to
substantially the previous level of operational capability.
In
no event shall the liability of the Company exceed the maximum limit of
liability of $10,000,000, subject to a Deductible of $50,000.
Special Condition
Under
this Insuring Agreement, “Single Loss” means all covered costs incurred by the
Insured between the time destruction or damage is discovered and the time the
Computer System is restored to substantially the previous level of operational
capability. Recurrence of destruction or damage after the Computer System is
restored shall constitute a separate “Single loss”.
1.
The following Definitions are added:
Electronic
Data
means facts or information converted to a form usable in a
Computer System by Computer Programs and which is stored on magnetic tapes or
disks, or optical storage disks or other bulk media.
Computer
Program
means a set of related electronic instructions which direct the
operations and functions of a computer or devices connected to it which enable
the computer or devices to receive, process, store or send Electronic Data
2.
Nothing herein contained shall be held to vary, alter, waive, or
extend any of the terms, limitations, conditions or agreements or the attached
bond other than as above stated.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 9
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
DESTRUCTION
OF DATA BY HACKER
It is agreed that
the following Insuring Agreement is added to the bond:
DESTRUCTION OF DATA OR
PROGRAMS BY HACKER
Loss resulting directly from the malicious destruction of or
damage to, Electronic Data or Computer Programs owned by the Insured or for
which the Insured is legally liable while stored within a Computer System
covered under the terms of the Computer Systems rider attached to this bond.
The
liability of the Company shall be limited to the cost of duplication of such
Electronic Data or Computer Programs from other Electronic Data or Computer
Programs which shall have been furnished by the Insured.
In
the event, however, that destroyed or damaged Computer Programs cannot be
duplicated from other Computer Programs, the Company will pay the cost incurred
for computer time, computer programmers, consultants or other technical
specialists as is reasonably necessary to restore Computer Programs to
substantially the previous level of operational capability.
The
Single Loss Limit of Liability for this Insuring Agreement is $10,000,000 which
is part, and not in addition to the Aggregate Limit of Liability on the
Declaration Page of this bond. A deductible of $50,000 applies to each and
every loss.
1.
The following Definitions are added:
Electronic
Data
means facts or information converted to a form usable in a
Computer System by Computer Programs and which is stored on magnetic tapes or
disks, or optical storage disks or other bulk media
Computer
Program
means a set of related electronic instructions which direct the
operations and functions of a computer or devices connected to it which enable
the computer or devices to receive, process, store or send Electronic Data
2.
Nothing herein contained shall be held to vary, alter, waive, or
extend any of the terms, limitations, conditions or agreements or the attached
bond other than as above stated.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 10
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
OMNIBUS
NAMED INSURED
It
is agreed that:
1. The
Insured in Item 1 of The Declaration page under the attached Bond is amended
and provided such amendment is permitted by law to include:
Any
interest now or hereafter owned or controlled by the Insured, provided any such
interest so included as Insured under this bond by reason of this rider must be
more than 50% owned or controlled by the Insured and subject to the provisions
of General Agreement A as amended.
Any
entity set forth in the list of investment companies submitted to Underwriter
as of the bond’s effective date and any investment company now existing or
hereafter created or acquired during the Bond Period, which is advised,
sub-advised and/or administered by The Dreyfus Corporation or any entity now or
hereafter majority owned or management controlled by The Dreyfus Corporation,
subject to General Agreement A, shall be added to the attached bond as an
additional joint insured. As used herein, the term “majority owned” shall mean
ownership of greater than 50 percent of the total equity interest of such
entity and the term “management control” shall mean the right to elect, appoint
or designate a majority of the board of directors, management committee or
management board of an entity that is not majority owned.
2. Nothing
herein contained shall be held to vary, alter, waive or extend any of the
terms, limitations, conditions or agreements of the attached bond other than as
above stated.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 11
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
COMPUTER
SYSTEMS FRAUD INSURING AGREEMENT
It
is agreed that:
1.
The attached bond is amended by adding an Insuring Agreement as
follows:
COMPUTER SYSTEMS FRAUD
Loss resulting from a fraudulent
1) entry of Electronic Data or Computer Program into, or
2) change of Electronic Data or Computer Program within any
Computer System used by the Insured;
provided
that the entry or change causes
i) Property to be transferred, paid or delivered,
ii)
an account of the Insured, or of its customer, to be added, deleted,
debited or credited, or
iii)
an unauthorized account or a fictitious account to be debited or credited.
In this Insuring Agreement, fraudulent entry or change shall
include such entry or change made by an Employee of the Insured acting in good
faith on an instruction from a software contractor who has a written agreement
with the Insured to design, implement or service programs for a Computer System
covered by this Insuring Agreement.
2. In addition to the Conditions and Limitations in this
bond, the following, applicable to the Computer Systems Fraud Insuring
Agreement, are added:
DEFINITIONS
(A) Computer Program means a set of related electronic
instructions which direct the operations and functions of a computer or devices
connected to it which enable the computer or devices to receive, process, store
or send Electronic Data;
(B) Computer System means
(1) computers with related peripheral components, including
storage compartments wherever located including internet access or remote
access to said Computer System,
(2) systems and applications software,
(3) terminal devices, and
(4) related communication networks or customer communications
systems including the internet, and
(5) related electronic funds transfer systems that is
currently utilized by the Insured
by
which Electronic Data are electronically collected, transmitted, processed,
stored and retrieved;
(C) Electronic Data means facts or information converted to a
form usable in a Computer System by Computer Programs, and which is stored on
magnetic tapes or disks, or optical storage disks or other bulk media.
EXCLUSIONS
(A) loss resulting directly or indirectly from the assumption
of liability by the Insured by contract unless the other liability arises from
a loss covered by the Computer Systems Fraud Insuring Agreement and would be
imposed on the Insured regardless of the existence of the contract;
(B) loss resulting directly or indirectly from negotiable
instruments, securities, documents or other written instruments which bear a
forged signature, or are counterfeit, altered or otherwise fraudulent and which
are used as source documentation in the preparation of Electronic Data or
manually keyed into a data terminal;
(C) loss resulting directly or indirectly from
(1) mechanical failure, faulty construction, error in design,
latent defect, fire, wear or tear, gradual deterioration, or electrical
disturbance or electrical surge which affects a Computer System, or
(2) failure or breakdown of electronic data processing media,
or
(3)
error or omission in programming or processing;
(D) loss resulting directly or indirectly from the input of
Electronic Data into a Computer System terminal device either on the premises
of a customer of the Insured or under the control of such a customer by a
person who had authorized access to the customer's authentication mechanism;
provided, however, this exclusion shall only apply to loss sustained in that
customer’s account;
(E) loss resulting directly or indirectly from the theft of
confidential information provided, however, that this exclusion shall not apply
to any loss otherwise covered under Insuring Agreement A in which a password
was used, and said password is the confidential information.
SERIES
OF LOSSES
All loss or series of losses involving the fraudulent acts of one
individual, or involving fraudulent acts in which one individual is implicated,
whether or not that individual is specifically identified, shall be treated as
a Single Loss and subject to the Single Loss Limits of Liability. A series of
losses involving unidentified individuals but arising from the same method of
operation shall be deemed to involve the same individual and in that event
shall be treated as a Single Loss and subject to the Single Loss Limit of
Liability.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 12
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMENDED
AUDIT EXPENSE
It
is agreed that:
1. Audit
Expense Insuring Agreement (B) is hereby deleted and replaced with the
following:
(B)
AUDIT EXPENSE
Expense
incurred by the Insured for that part of the costs of audits or examinations
required by any governmental regulatory authority to be conducted either by
such authority or by an independent accountant by reason of the discovery of
loss sustained by the Insured through any dishonest or fraudulent act(s),
including Larceny or Embezzlement of any of the Employees or any other Insuring
Agreements included in this bond. The total liability of the Underwriter for
such expense by reason of such acts of any Employee or in which such Employee
is concerned or implicated or with respect to any one audit or examination is
limited to the amount stated opposite Audit Expense in Item 3 of the
Declarations; it being understood, however, that such expense shall be deemed
to be a loss sustained by the Insured through any dishonest or fraudulent
act(s), including Larceny or Embezzlement of one or more of the Employees and
the liability under this paragraph shall be in addition to the Limit of
liability stated in Insuring Agreement (A) in Item 3 of the Declarations.
2. Nothing herein contained shall be held to vary, alter,
waive or extend any of the terms, limitations conditions or agreements of the
attached bond other than as above stated.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 13
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMENDED
COUNTERFEIT CURRENCY
It is agreed
that:
1. INSURING AGREEMENT (G) is deleted in its entirety and
replaced by the following:
Loss resulting directly from the receipt by the Insured, in good
faith, of any Counterfeit money orders or altered paper currency or coin of the
United States of America, Canada or any other country.
2. Nothing herein contained shall be held to vary, alter,
waive, or extend any of the terms, limitations, conditions, or provisions of
the attached bond other than above stated.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 14
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMENDED
FORGERY OR ALTERATIONS
It is agreed
that:
1. Insuring Agreement (E) is hereby deleted in it’s entirety
and replaced with the following:
(E) FORGERY OR
ALTERATION
Loss
through FORGERY or ALTERATION of, on or in any bills of exchange, checks,
drafts, acceptances, certificates of deposit, promissory notes, or other
written promises, orders or directions to pay sums certain in money, due
bills, money orders, warrants, orders upon public treasuries, letters of
credit, written instructions, advices or applications directed to the Insured,
authorizing or acknowledging the transfer, payment, delivery or receipt of
funds or Property, which instructions or advices or applications purport to
have been signed or endorsed by any customer or Employee of the Insured,
shareholder or subscriber to shares, whether certificated or uncertificated, of
any Investment Company or by any financial or banking institution or
stockbroker but which instructions, advices or applications either bear the
forged signature or endorsement or have been altered without the knowledge and
consent of such customer, shareholder or subscriber to shares, whether
certificated or uncertificated, of an Investment Company, financial or banking
institution or stockbroker, withdrawal orders or receipts for the withdrawal of
funds or Property, or receipts or certificates of deposit for Property and
bearing the name of the Insured as issuer, or of another Investment Company for
which the Insured acts as agent, excluding, however, any loss covered under
Insuring Agreement (F) hereof whether or not coverage for Insuring Agreement
(F) is provided for in the Declarations of this bond.
Any
check or draft (a) made payable to a fictitious payee and endorsed in the name
of such fictitious payee or (b) procured in a transaction with the maker or
drawer thereof or with one acting as an agent of such maker or drawer or anyone
impersonating another and made or drawn payable to the one so impersonated and
endorsed by anyone other than the one impersonated, shall be deemed to be
forged as to such endorsement.
2.
Nothing herein contained shall be held to vary, alter, waive or
extend any of the terms, limitations conditions or agreements of the attached
bond other than as above stated.
Mechanically
reproduced facsimile signatures are treated the same as handwritten signatures.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 15
This endorsement, effective 12:01 am
January 31, 2013
forms a part of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National Union Fire Insurance Company of Pittsburgh, Pa.
AMENDED CHANGE OF CONTROL NOTICE
It is agreed that:
1. Section 17 – NOTICE AND CHANGE OF CONTROL is hereby amended by changing the term “30 days” to “60 days”.
2.
Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations, conditions or agreements of the attached bond other than as above stated.
AUTHORIZED REPRESENTATIVE
ENDORSEMENT# 16
This endorsement, effective 12:01 am
January 31, 2013
forms a part of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National Union Fire Insurance Company of Pittsburgh, Pa.
THIRD PARTY CHECK EXCLUSION
It is agreed that:
1. By adding to Section 2 Exclusions – the following:
(n) loss resulting from or in connection with acceptance of a Third Party Check, unless the entity which receives such check maintains and proceeds in accordance with the Insured’s Designated Procedures. This Exclusion does not apply to Insuring Agreement A – FIDELITY.
2. The following is added to Section 1, DEFINITIONS:
(f) Third Party Check means a check made payable to one party and offered as payment to another party.
3. A Deductible amount of $200,000 will apply to any one loss as respects Third Party Checks.
AUTHORIZED REPRESENTATIVE
ENDORSEMENT# 17
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
EXTENDED
COMPUTER SYSTEMS RIDER
It is agreed
that this Bond is amended as follows:
1.
By adding the following INSURING AGREEMENT:
(M) EXTENDED COMPUTER
SYSTEMS
A.
Electronic Data, Electronic Media, Electronic Instruction
Loss
resulting directly from:
(1)
the fraudulent modification of
Electronic Data, Electronic
Media or Electronic Instruction
being stored within or being run within any
system covered under this INSURING AGREEMENT.
(2)
robbery, burglary, larceny or theft or destruction of
Electronic
Data, Electronic Media or Electronic Instruction.
(3)
the act of a hacker causing damage or destruction of
Electronic
Data, Electronic Media or Electronic Instruction
owned by the INSURED or
for which the INSURED is legally liable, while stored within a Computer System
covered under this INSURING AGREEMENT, or
(4)
the damage or destruction of
Electronic Data, Electronic Media
or Electronic Instruction
owned by the INSURED or for which the INSURED is
legally liable, while stored within a Computer System covered under this
INSURING AGREEMENT, provided such damage or destruction was caused by a
computer program or similar instruction which was written or altered to
intentionally incorporate a hidden instruction designed to damage or destroy
Electronic Data, Electronic Media or Electronic Instruction in the Computer
System in which the computer program or instruction so written or so altered is
used.
B.
Electronic Communication
Loss
resulting directly from the INSURED having transferred, paid or delivered any
funds or Property, established any credit, debited any account or given any
value on the faith of any
electronic communications
directed to the INSURED, which were transmitted or appear to have been
transmitted through:
(1)
an Electronic Communication System,
(2)
an automated clearing house or custodian, or
(3)
a Telex, TWX, or similar means of communication,
directly
into the INSURED’S Computer System or Communication Terminal, and fraudulently
purport to have been sent by a Customer automated clearing house, custodian, or
financial institution but which communications were either not sent by said
Customer, automated clearing house, custodian, or financial institution, or
were fraudulently modified during physical transit of Electronic Media to the
INSURED or during electronic transmission to the INSURED’s Computer Systems or
Communication Terminal.
C.
Electronic
Transmission
Loss
resulting directly from a
Customer
of the INSURED, any automated
clearing house, custodian, or financial institution having transferred, paid or
delivered any
Property
, established any credit, debited any account or
given any value on the faith of any
Electronic Communications
,
purporting to have been directed by the INSURED to such
Customer
,
automated clearing house, custodian, or financial institution initiating,
authorizing, or acknowledging, the transfer, payment, delivery or receipt of
Property,
which communications were transmitted through:
(1)
an Electronic Communication System,
(2)
an automated clearing house or custodian, or
(3)
a Telex, TWX, or similar means of communication,
directly
into the INSURED’S Computer System or Communication Terminal of said customer,
automated clearing house, custodian, or financial institution and fraudulently
purport to have been directed by the INSURED, but which
communications were either not sent by the INSURED or were fraudulently
modified during physical transit of Electronic Media from the INSURED or during
electronic transmission from the INSURED’s Computer System or Communication
Terminal, and for which loss the INSURED is held to be legally liable.
2.
By adding to Section 1, DEFINITIONS, the following:
g
. Communication Terminal
means a teletype,
teleprinter or video display terminal, or similar device capable of sending or
receiving
information electronically,
Communication
Terminal
does not mean a telephone.
h.
Electronic Communication System
means electronic
communication operations by Fedwire, Clearing House Interbank Payment System
(CHIPS), Society of Worldwide International Financial Telecommunication
(SWIFT), similar automated interbank communication system, and Internet access
facilities.
i.
Electronic Data
means facts or information
converted to a form usable in
Computer System
and which is stored on
Electronic
Media
for use by computer programs.
j.
Electronic Instruction
means computer programs
converted to a form usable in a Computer System to act upon
Electronic Data
.
k.
Electronic Media
means the magnetic tape,
magnetic disk, optical disk or any other bulk media on which data is recorded.
l.
Computer Systems
means:
(1) computers with related peripheral components, including
storage compartments wherever located including internet access or remote
access to said Computer Systems,
(2) systems
and application software,
(3) terminal
devices,
(4) related communication networks or customer communication
systems including the internet, and
(5) related electronic funds transfer systems that are
currently utilized by the Insured.
m.
Solely for purposes of this endorsement, “
Customer”
means
any entity or individual which has a written contract or agreement with the
Insured for the purpose of the Insured providing professional services.
3.
By adding the following SPECIFIC EXCLUSIONS-APPLICABLE TO THIS
INSURING AGREEMENT (M):
This Insuring Agreement
does not cover:
a.
loss resulting directly or indirectly from Forged, altered or
fraudulent negotiable instruments,
Securities, documents or other written
instruments
used as source documentation in the preparation of
Electronic
Data:
b.
loss of negotiable instruments,
Securities, documents or other
written instruments
except as converted to
Electronic Data
and then
only in that converted from;
c.
loss resulting from mechanical failure, faulty construction, error
in design, latent defect, wear or tear, gradual deterioration, electrical
disturbance, Electronic Media failure or breakdown or any malfunction or error
in programming or error or omission in processing;
d.
loss resulting directly or indirectly from the input of
Electronic
Data
at an authorized electronic terminal of an
Electronic Funds
Transfer System
or a
Customer Communications System
by a person who
has authorized access from a Customer to that
Customer’s
authentication
mechanism, provided however, this exclusion shall only apply to loss sustained
in that particular Customer’s account;
e.
liability assumed by the INSURED by agreement under any contract,
unless such liability would have attached to the INSURED even in the absence of
such agreement; or
f.
loss resulting directly or indirectly from:
(1)
written instruction unless covered under this INSURING AGREEMENT;
or
(2)
instruction by voice over the telephone, unless covered under this
INSURING AGREEMENT.
g. loss resulting directly or indirectly from the input data
into a
Computer System
terminal, either on the premises of the
Customer
of the INSURED or under the control of such a
Customer
by a
Customer
or other person who had authorized access to the Customer’s authentication
mechanism,
provided, however, this exclusion shall only apply to loss sustained in that
particular
Customer’s
account.
4.
By adding to Section 5., Valuation of Property, the following:
Electronic
Data, Electronic Media, or Electronic Instruction
In
case of loss of, or damage to,
Electronic Data, Electronic Media,
or
Electronic
Instruction
used by the INSURED in its business, the COMPANY’S liability
under this Bond shall be limited to the cost to reproduce the Electronic Data,
Electronic Media or Electronic Instructions from other
Electronic Data,
Electronic Media
or
Electronic Instruction
of the same kind of
quality and then for not more than the cost of the blank media and/or the cost
of labor for the actual transcription or copying of data which shall have been
furnished by the INSURED in order to reproduce such
Electronic Data,
Electronic Media
or
Electronic Instruction
subject to the applicable
LIMIT OF LIABILITY.
In
the event, however, that the loss or damage to Electronic Data, Electronic
Media or Electronic Instructions cannot be reproduced from other Electronic
Data, Electronic Media or Electronic Instructions, the Company will pay the
cost incurred for computer time, computer programmers, consultants or other
technical specialists as is reasonably necessary to restore such Electronic
Data, Electronic Media or Electronic Instructions to substantially the previous
level of operational capability.
However,
if such Electronic Data can not be reproduced and said Electronic Data
represents Securities or financial instruments having a value, then the loss
will be valued as indicated in the SECURITIES and OTHER PROPERTY paragraphs of
this Section.
ALL OTHER TERMS AND
CONDITIONS OF THIS BOND REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 18
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMENDED
DEFINITION OF EMPLOYEE
It is agreed
that:
1. The
d
efinition of
Employee in Section 1.
of the
CONDITIONS AND LIMITATIONS
Clause is amended to include the
following individuals identified below as indicated by a check in the
corresponding box:
EMPLOYEES
(coverage included ONLY if box checked)
|
|
(6) non-fund soliciting
volunteer workers while working under the direction and control of the
Insured;
|
X
|
(7) employees of _________________
performing work duties for
________________
;
|
|
(8) non-compensated
officers, directors or trustees while performing duties as an employee;
|
X
|
(9) interns and
non-compensated interns;
|
X
|
(10) Consultants
(as defined below),
including but not
limited to:
-
A
consultant retained by the Insured and an Employee of such consultant
while either is performing consulting services for the Insured pursuant
to a written agreement.
|
X
|
(11) retired employees
employed on a consulting, contingent or part-time basis;
|
X
|
(12) former employees for
up to sixty (60) days after termination, provided termination was not due to
a loss covered by the bond;
|
X
|
(13) any employee on an
approved leave of absence or military deployment;
|
X
|
(14) any employee who has
been granted a waiver of a prior dishonesty situation by any insurer
providing a Financial Institution Bond or similar type of coverage for the
Insured;
|
X
|
(15) a person who is a
registered representative or a registered principal associated with an
Insured, except a:
-
sole
proprietor,
-
sole
stockholder,
-
director
or trustee of an Insured who is not performing acts coming within the
scope of the usual duties of an officer or an employee, or
-
partner;
|
|
(16)
each natural person, partnership or corporation authorized under written
contract with the Insured to design, prepare, supply or service electronic
computer instructions for computer systems of the Insured, herein called
independent software contractor; each such independent software contractor
and the partners, officers and employees of such independent software
contractor shall, collectively, be deemed to be one employee for all the
purposes of the bond, excepting, however, the second paragraph of Section 12.
TERMINATION OR CANCELLATION of the
CONDITIONS AND LIMITATIONS
Clause;
|
|
(17) a natural person
leased to the Insured by a labor leasing firm under a written agreement
between the Insured and the firm, to perform duties related to the conduct of
the Insured’s business; and
|
X
|
(18) temporary or
part-time workers.
|
X
|
(19)any partner, officer or employee of an investment adviser,
an underwriter
(distributor), a transfer agent or shareholder accounting record keeper or an
administrator, sub-advisor or sub-administrator, for an Investment Company
while performing acts coming within the scope of the customary and usual
duties of an officer or employee of an Investment Company or acting as a
member of any committee duly elected or appointed to examine, audit or have
custody of or access to Property of an Investment Company.
|
X
|
2. For the purposes herein,
Employees
of one Insured are considered Employees of all Insureds.
3. As
used herein, Consultant means a professional consultant under contract, either
directly or through such consultant’s company or firm, with the Insured to
provide solely consulting services to the Insured and Consultant is under the
supervision, direction and control of the Insured.
4. It is hereby understood and agreed that in
SECTION
1. DEFINITIONS,
(a) "
Employee
"
is amended by deleting the language after 9d) and replacing it with:
for an Investment Company named as Insured while performing acts
coming within the scope of the usual duties of an officer or Employee of any
Investment Company named as Insured herein, or while acting as a member of any
committee duly elected or appointed to examine or audit or have custody of or
access to the Property of any such Investment Company, provided that only
Employees or partners of a transfer agent, shareholder accounting record-keeper
or administrator which is an affiliated person as defined in the Investment
Company Act of 1940, of an Investment Company named as Insured or is an
affiliated person of the adviser, underwriter or administrator of such
Investment Company shall be included within the definition of Employee.
Each employer of temporary personnel or processors as set forth in
Sub-Sections (6) and of Section 1(a) and their partners, officers and employees
shall collectively be deemed to be one person for all the purposes of this
bond, excepting, however, the last paragraph of Section 13.
Brokers, or other agents under contract or representatives of the
same general character shall not be considered Employees.
-
Nothing
contained here shall be held to vary, alter, waive or extend any of the
terms, limitations, conditions, or agreements of the attached bond other than
as above stated.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 19
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
THIS
ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
COVERAGE
TERRITORY ENDORSEMENT
Payment of loss
under this policy shall only be made in full compliance with all United States
of America economic or trade sanction laws or regulations, including, but not limited
to, sanctions, laws and regulations administered and enforced by the U.S.
Treasury Department's Office of Foreign Assets Control ("OFAC").
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 20
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
INSURING AGREEMENT (I) UNCOLLECTIBLE ITEMS OF DEPOSIT
In
consideration of the premium charged, it is hereby understood and agreed that
INSURING
AGREEMENT
(I)
,
UNCOLLECTIBLE ITEMS OF DEPOSIT is deleted in its entirety and replaced with
the following:
(J)
UNCOLLECTIBLE
ITEMS OF DEPOSIT
Loss
resulting from payments of dividends or fund shares, or withdrawals permitted
from any customer’s, shareholder’s or subscriber’s account based upon
Uncollectible Items of Deposit of a customer, shareholder or subscriber
credited by the Insured or the Insured’s agent to such customer’s,
shareholder’s or subscriber’s Mutual Fund Account; or
Loss resulting from any
Item of Deposit processed through an Automated Clearing House which is reversed
by the customer, shareholder or subscriber and deemed uncollectible by the
Insured.
Loss includes dividends and
interest accrued not to exceed 15% of the Uncollectible Items which are
deposited.
This
Insuring Agreement applies to all Mutual Funds with “exchange privileges”
regardless of the number of transactions between Fund(s), the minimum number of
days of deposit within the Fund(s) before withdrawal as declared in the Fund(s)
prospectus shall begin from the date a deposit was first credited to any
Insured Fund(s).
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 21
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
GENERAL AGREEMENT A- 15%
In
consideration of the premium charged, it is hereby understood and agreed that
in
GENERAL
AGREEMENTS
(A)
,
ADDITIONAL OFFICES OR EMPLOYEES –CONSOLIDATION OR MERGER-NOTICE is deleted
in its entirety and replaced with the following:
A . ADDITIONAL OFFICES OR
EMPLOYEES- CONSOLIDATION OR MERGER-NOTICE
1. If the Insured shall, while this bond is in force, establish
any additional office or offices, such office or offices shall be automatically
covered hereunder from the dates of their establishment, respectively. No
notice to the Underwriter of an increase during any premium period in the
number of offices or in the number of Employees at any of the offices covered
hereunder need be given and no additional premium need be paid for the
remainder of such premium period.
2. If an Investment Company, named as Insured herein, shall,
while this bond is in force, merge or consolidate with, or purchase the assets
of another institution, coverage for such acquisition shall apply automatically
from the date of acquisition. The Insured shall notify the Underwriter of such
acquisition within 60 days of said date, and an additional premium shall be
computed only if such acquisition involves additional offices or employees.
Notwithstanding
the foregoing, if the Insured shall, while this bond is in force, consolidate
or merge with, or purchase or acquire assets or liabilities of, another
institution, the Insured shall automatically have such coverage as is afforded
under this bond for loss without an additional premium charge for the remainder
of the current bond period provided that:
(a)
the assets acquired as a result of such consolidation, merger,
purchase or acquisition are less than fifteen percent (15%) of the assets of
the Insured on the date of such consolidation, merger, purchase or acquisition;
(b)
the consolidation, merger, purchase or acquisition of assets or
liabilities was not through a regulatory-assisted transaction;
(c)
the consolidated or merged institution, or the assets or
liabilities purchased or acquired from another institution, were not the
subject of any regulatory agreement or stipulation prior to the effective date
of the consolidation, merger, purchase or acquisition; and
(d)
the consolidated or merged institution, or the assets or
liabilities purchased or acquired from another institution, have not incurred
or been the subject of a loss of a type payable under this bond in an amount
exceeding the deductible amount shown in Item 3 of the Declarations during the
preceding three (3) years.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 22
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 1, DEFINITIONS, PROPERTY
In
consideration of the premium charged, it is hereby understood and agreed that
in SECTION 1, DEFINITIONS
,
(b)
”Property” is deleted in its
entirety and replaced with the following:
(b) "Property" means money (i.e.. currency, coin, bank
notes, Federal Reserve notes), postage and revenue stamps, U.S. Savings Stamps,
bullion, precious metals of all kinds and in any form and articles made therefrom,
jewelry, watches, necklaces, bracelets, gems, precious and semi-precious
stones, bonds, securities, evidences of debts, debentures, scrip, certificates,
interim receipts, warrants, rights, puts, calls, straddles, spreads, transfers,
coupons, drafts, bills of exchange, acceptances, notes, checks, withdrawal
orders, money orders, warehouse receipts, bills of lading, conditional sales
contracts, abstracts of title, insurance policies, uncertificated securities,
deeds, mortgages under real estate and/or chattels and upon interests therein,
and assignments of such policies, mortgages and instruments, and other valuable
papers, including books of account and other records used by the Insured in the
conduct of its business, and all other instruments similar to or in the nature
of the foregoing including electronic representations of such instruments
enumerated above (not including data processing records; however, the cost
associated with the reconstruction of data processing records shall be
reimbursed) in which the Insured has an interest or in which the Insured
acquired or should have acquired an interest by reason of a predecessor's
declared financial condition at the time of the Insured's consolidation or
merger with, or purchase of the principal assets of, such predecessor or which
are held by the Insured for any purpose or in any capacity and whether so held
by the Insured for any purpose or in any capacity and whether so held
gratuitously or not and whether or not the Insured is liable therefore.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 23
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 2, EXCLUSIONS (h),
In
consideration of the premium charged, it is hereby understood and agreed that In
consideration of the premium charged, it is hereby understood and agreed that SECTION 2,
EXCLUSIONS
,
(h)
is deleted in its entirety and replaced with the
following:
h)
potential
income, including but not limited to interest or dividends, not realized by the
Insured because of a loss covered under this bond, except accrued interest or
dividends for which the Insured is legally liable to a customer or other third
party or as included under Insuring Agreement (I).
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 24
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 2, EXCLUSIONS (j),
In
consideration of the premium charged, it is hereby understood and agreed that SECTION 2,
EXCLUSIONS
,
(j)
is deleted in its entirety and replaced with the
following:
j) loss
through the surrender of Property away from an office of the Insured as a
result of a threat
(1) to do bodily harm to any person, except loss of Property in
transit in the custody of any person acting as messenger provided that when
such transit was initiated there was no knowledge by the Insured of any such
threat, except when covered under Insuring Agreement (A). or
(2) to do damage to the premises or Property of the Insured,
except when covered under Insuring Agreement (A).
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 25
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 2, EXCLUSIONS (m)
In
consideration of the premium charged, it is hereby understood and agreed that
SECTION 2, EXCLUSIONS
,
(m)
is deleted in its entirety.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 26
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 4 DISCOVERY
LOSS-NOTICE-PROOF-LEGAL
PROCEEDINGS AMENDED
In consideration of the
premium charged, it is hereby understood and agreed that Section 4. of the
attached bond is deleted in its entirety and replaced with the following:
SECTION 4. LOSS -NOTICE
-PROOF-LEGAL PROCEEDINGS
This bond is for the use
and benefit only of the Insured named in the Declarations and the Underwriter
shall not be liable hereunder for loss sustained by anyone other than the
Insured unless the Insured, in its sole discretion and at its option, shall
include such loss in the Insured's proof of loss. At the earliest practicable
moment after discovery of any loss hereunder by the Insured’s BNY Mellon
Insurance Manager, Senior Counsel of The Dreyfus Corporation with insurance
responsibilities or Counsel of The Dreyfus Corporation with insurance
responsibilities, shall give the Underwriter written notice thereof and shall
also within six months after such discovery furnish to the Underwriter
affirmative proof of loss with full particulars. If claim is made under this
bond for loss of securities or shares, the Underwriter shall not be liable
unless each of such securities or shares is identified in such proof of loss by
a certificate or bond number or, where such securities or shares are
uncertificated, by such identification means as agreed to by the Underwriter.
The Underwriter shall have thirty days after notice and proof of loss within
which to investigate the claim, but where the loss is clear and undisputed,
settlement shall be made within forty-eight hours; and this shall apply
notwithstanding the loss is made up wholly or in part of securities of which
duplicates may be obtained. Legal proceedings for recovery of any loss
hereunder shall not be brought prior 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, except that any action or
proceeding to recover hereunder on account of any judgment against the Insured
in any suit mentioned in General Agreement C or to recover attorneys' fees paid
in any such suit, shall be begun within twenty-four months from the date upon
which the judgment in such suit shall become final. If any limitation embodied
in this bond is prohibited by any law controlling the construction hereof, such
limitation shall be deemed to be amended so as to be equal to the minimum
period of limitation permitted by such law.
Discovery
occurs when The BNY Mellon Insurance Manager, Senior Counsel of The Dreyfus
Corporation with insurance responsibilities or Counsel of The Dreyfus
Corporation with insurance responsibilities
(a) becomes aware of facts, or
(b) receives written notice of an
actual or potential claim by a third party which alleges that the Insured is
liable under circumstance
which would cause a
reasonable person to assume that a loss covered by the bond has been or will be
incurred even though the exact amount or details of loss may not be then known.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 27
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 5, VALUATION OF PROPERTY
In consideration
of the premium charged, it is hereby understood and agreed that in SECTION 5.
VALUATION OF PROPERTY is amended by adding the following paragraph:
Any
loss of money, or loss payable in money, shall be paid, at the option of the
Insured, in the money of the country in which the loss was sustained or in the
United States of America dollar equivalent thereof as determined at the rate of
exchange as published in the Wall Street Journal at the time of discovery of
loss.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 28
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 11. OTHER INSURANCE
In
consideration of the premium charged, it is hereby understood and agreed that
in SECTION
11. OTHER INSURANCE is deleted in its entirety and replaced with the following:
If the Insured shall hold,
as indemnity against any loss covered hereunder, any valid and enforceable
insurance or suretyship, the Underwriter shall be liable hereunder only for
such amount of such loss which is excess of the amount of such other insurance
or suretyship but will remain primary to the Comprehensive Crime Bond program
of The Bank of New York Mellon Corporation led by primary bond QA097011
(12/01/2011 to 12/01/2012) including renewals and replacements thereof.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 29
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
CANCELLATION
AMENDATORY-RETURN PRO-RATA
Wherever
used herein: (1) “Policy” means the policy or bond to which this endorsement or
rider is made part of; (2)“Insurer” means the “Insurer,” “Underwriter,”
“Company” or other name specifically ascribed in this Policy as the insurance
company or underwriter for this Policy; (3) “Named Entity” means the “Named
Entity,” “Named Corporation,” Named Organization,” “Named Sponsor,” “Named
Insured,” “First Named Insured,” “Insured’s Representative,” “Policyholder” or
equivalent term stated in Item 1 of the Declarations; and (4) “Period” means the
“Policy Period,” “Bond Period” or equivalent term stated in the Declarations.
In consideration of the
premium charged, it is hereby understood and agreed that notwithstanding
anything to the contrary in any CANCELLATION or TERMINATION clause of this Policy
(and any endorsement or rider amending such cancellation or termination clause,
including but not limited to any state cancellation/non-renewal amendatory
attached to this policy), if this Policy shall be canceled by the Named Entity,
the Insurer shall return to the Named Entity the unearned pro rata proportion
of the premium as of the effective date of cancellation.
ALL OTHER TERMS, CONDITIONS
AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 30
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 13, TERMINATION
In
consideration of the premium charged, it is hereby understood and agreed that SECTION 13.
TERMINATION is deleted in its entirety and replaced with the following:
SECTION 13. TERMINATION
The
Underwriter may terminate this bond as an entirety by furnishing written notice
specifying the termination date which cannot be prior to 60 days after the
receipt of such written notice by each Investment Company named as Insured and
the Securities and Exchange Commission, Washington, D.C. The Insured may
terminate this bond as an entirety by furnishing written notice to the
Underwriter. When the Insured cancels, the Insured shall furnish written
notice to the Securities and Exchange Commission, Washington. D.C. prior to 60
days before the effective date of the termination. The Underwriter shall notify
all other Investment Companies named as Insured of the receipt of such
termination notice and the termination cannot be effective prior to 60 days
after receipt of written notice by all other Investment Companies. Premiums are
earned until the termination date as set forth herein.
This
Bond will terminate as to any one Insured immediately upon taking over of such
Insured by a receiver or other liquidator or by State or Federal officials, or
immediately upon the filing of a petition under any State or Federal statute
relative to bankruptcy or reorganization of the Insured, or assignment for the
benefit of creditors of the Insured or immediately upon such Insured ceasing to
exist, whether through merger into another entity, or by disposition of all of
its assets.
This
Bond will terminate as to any registered management investment company upon the
expiration of 60 days by the Insured, or 60 days, if by the Underwriter, after
written notice has been given to the Securities and Exchange Commission, Washington D.C.
This
Bond shall terminate
(a) as to any Employee as soon as The BNY Mellon
Insurance Manager, Senior Counsel of The Dreyfus Corporation with insurance
responsibilities or Counsel of The Dreyfus Corporation with insurance
responsibilities, not in collusion with such Employee, shall learn of any
dishonest or fraudulent act(s), including Larceny or Embezzlement on the part
of such Employee
without prejudice to the loss of any
Property then in transit in the custody of such Employee (See Section 16[d]),
or
(b) as to any Employee 60 days after receipt by each
Insured and by the Securities and Exchange Commission of a written notice from
the Underwriter of its desire to terminate this bond as to such Employee, or
(c) as to any person, who is a partner, officer or
employee of any Electronic Data Processor covered under this bond, from and
after the time that The BNY Mellon Insurance Manager, Senior Counsel of The
Dreyfus Corporation with insurance responsibilities or Counsel of The Dreyfus
Corporation with insurance responsibilities not in collusion with such person
shall have knowledge or information that such person has committed any
dishonest or fraudulent act(s), including Larceny or Embezzlement in the
service of the Insured or otherwise, whether such act be committed before or
after the time this bond is effective.
(d) In the event that The BNY Mellon Insurance Manager,
Senior Counsel of The Dreyfus Corporation with insurance responsibilities or
Counsel of The Dreyfus Corporation with insurance responsibilities learns of a
prior dishonest or fraudulent act committed by a current or prospective
Employee, provided the amount involved is less than $10,000, the coverage is
automatically reinstated provided that The BNY Mellon Insurance Manager,
Senior Counsel of The Dreyfus Corporation with insurance responsibilities or
Counsel of The Dreyfus Corporation with insurance responsibilities unanimously
agree in writing to the reinstatement.
Notwithstanding anything
set forth above, the Underwriter agrees that this bond shall continue to apply
in respect of those Employees for whom a written waiver of a prior dishonest or
fraudulent act was granted under any prior bond.
For
the purpose of this endorsement, the following definition is added:
Prior dishonest or
fraudulent act: an act which shows a want of integrity or breach of trust, including
but not limited to an act in disregard of an employer’s interest.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 31
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 15, CENTRAL HANDLING OF SECURITIES
In
consideration of the premium charged, it is hereby understood and agreed that
in SECTION
15. CENTRAL HANDLING OF SECURITIES is deleted in its entirety and replaced with
the following:
SECTION 15. CENTRAL
HANDLING OF SECURITIES
Securities included in the
systems for the central handling of securities established and maintained by
Depository Trust Company, Midwest Depository Trust Company, Pacific Securities
Depository Trust Company, and Philadelphia Depository Trust Company, or any
similar recognized depository, hereinafter called Corporations, to the extent
of the Insured's interest therein as effective by the making of appropriate
entries on the books and records of such Corporations shall be deemed to be
Property.
The words "Employee"
and "Employees" shall be deemed to include the officers, partners,
clerks and other employees of the New York Stock Exchange, Boston Stock
Exchange, Midwest Stock Exchange, Pacific Stock Exchange and Philadelphia Stock
Exchange, or any similar recognized exchange, hereinafter called Exchanges, and
of the above named Corporations, and of any nominee in whose name is registered
any security included within the systems for the central handling of securities
established and maintained by such Corporations, and any employee of any
recognized service company, while such officers, partners, clerks and other
employees and employees of service companies perform services for such
Corporations in the operation of such systems. For the purpose of the above definition
a recognized service company shall be any company providing clerks or other
personnel to said Exchanges or Corporation on a contract basis.
The Underwriter shall not
be liable on account of any loss(es) in connection with the central handling of
securities within the systems established and maintained by such Corporations,
unless such loss(es) shall be in excess of the amount(s) recoverable or
recovered under any bond or policy of insurance indemnifying such Corporations,
against such loss(es), and then the Underwriter shall be liable hereunder only
for the Insured's share of such excess loss(es), but in no event for more than
the Limit of Liability applicable hereunder.
For the purpose of
determining the Insured's share of excess loss(es) it shall be deemed that the
Insured has an interest in any certificate representing any security included
within such systems equivalent to the interest the Insured then has in all
certificates representing the same security included within such systems and
that such Corporations shall use their best judgment in apportioning the
amount(s) recoverable or recovered under any bond or
policy of insurance
indemnifying such Corporations against such loss(es) in connection with the
central handling of securities within such systems among all those having an
interest as recorded by appropriate entries in the books and records of such
Corporations in Property involved in such loss(es) on the basis that each such
interest shall share in the amount(s) so recoverable or recovered in the ratio
that the value of each such interest bears to the total value of all such
interests and that the Insured's share of such excess loss(es) shall be the
amount of the Insured's interest in such Property in excess of the amount(s) so
apportioned to the Insured by such Corporations.
This bond does not afford
coverage in favor of such Corporations or Exchanges or any nominee in whose
name is registered any security included within the systems for the central
handling of securities established and maintained by such Corporations, and
upon payment to the Insured by the Underwriter on account of any loss(es)
within the systems, an assignment of such of the Insured's rights and causes of
action as it may have against such Corporations or Exchanges shall to the
extent of such payment, be given by the Insured to the Underwriter, and the
Insured shall execute all papers necessary to secure to the Underwriter the
rights provided for herein.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 32
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 16, (d)
In
consideration of the premium charged, it is hereby understood and agreed that
in SECTION
16. ADDITIONAL COMPANIES INCLUDED AS INSURED is deleted in its entirety and
replaced with the following:
SECTION 16. ADDITIONAL
COMPANIES INCLUDED AS INSURED
If
more than one corporation, co-partnership or person or any combination of them
be included as the Insured herein:
(a) the total liability of the Underwriter hereunder for loss or
losses sustained by any one or more or all of them shall not exceed the limit
for which the Underwriter would be liable hereunder if all such loss were
sustained by any one of them,
(b) the
one first named herein shall be deemed authorized to make, adjust and receive
and enforce payment of all claims hereunder and shall be deemed to be the agent
of the others for such purposes and for the giving or receiving of any notice
required or permitted to be given by the terms hereof, provided that the
Underwriter shall furnish each named Investment Company with a copy of the bond
and with any amendment thereto, together with a copy of each formal filing of
the settlement of each such claim prior to the execution of such settlement,
(c) the Underwriter shall not be responsible for the proper application of
any payment made hereunder to said first named Insured,
(d) knowledge
possessed or discovery made by The BNY Mellon Insurance Manager, Senior Counsel
of The Dreyfus Corporation with insurance responsibilities or Counsel of The
Dreyfus Corporation with insurance responsibilities shall for the purposes of
Section 4 and Section 13 of this bond constitute knowledge or discovery by all
the Insured, and
(e) if the first named Insured ceases for any reason to be
covered under this bond, then the Insured next named shall thereafter be
considered as the first named Insured for the purposes of this bond.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 33
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
AMEND
SECTION 17-NOTICE AND CHANGE OF CONTROL
In
consideration of the premium charged, it is hereby understood and agreed that
in SECTION
17. NOTICE AND CHANGE OF CONTROL is deleted in its entirety and replaced with
the following:
SECTION
17. NOTICE AND CHANGE OF CONTROL
Upon
(i) The BNY Mellon Insurance Manager; (ii) Senior Counsel of The Dreyfus
Corporation with insurance responsibilities; or (iii) Counsel of The Dreyfus
Corporation with insurance responsibilities, obtaining knowledge of a transfer
of its outstanding voting securities which results in a change in control (as
set forth in Section 2(a) (9) of the Investment Company Act of 1940) of the
Insured, the Insured shall within thirty (30) days of such knowledge give
written notice to the Underwriter setting forth:
(a) the names of the transferors and transferees (or the names
of the beneficial owners if the voting securities are requested in another
name), and
(b) the total number of voting securities owned by the
transferors and the transferees (or the beneficial owners), both immediately
before and after the transfer, and
(c) the total number of outstanding voting securities.
As
used in this section, control means the power to exercise a controlling
influence over the management or policies of the Insured.
Failure
to give the required notice shall result in termination of coverage of this
bond, effective upon the date of stock transfer for any loss in which any
transferee is concerned or implicated.
Such
notice is not required to be given in the case of an Insured which is an
Investment Company.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 34
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
CLAIM
EXPENSE ENDORSEMENT, $100K SUB-LIMIT, $10K DEDUCTIBLE
CLAIMS
EXPENSE INSURING AGREEMENT
In
consideration of the premium charged, it is hereby understood and agreed that
the bond is amended by adding Insuring Agreement (J) to the bond as follows:
CLAIMS
EXPENSE
(J)
Reasonable expenses
(excluding the cost of services rendered by employees of the Insured)
necessarily incurred and paid by the Insured in preparing any valid claim for
loss, as defined in Insuring Agreements A, B, C, D, E, F, G, H, and I and any
other valid coverage added by rider, which loss exceeds the Single Loss
Deductible Amount of $50,000. If no loss is established hereunder, then the
Insured will bear all such expenses. The Underwriter’s maximum liability for
such expenses paid by the Insured in preparing any one such claim shall be
limited to $100,000
which is part of, and not in addition to, the
Aggregate Limit of Liability stated on the Declaration Page of this bond.
There
shall be no coverage hereunder for any expenses arising out of any legal
dispute, suit or arbitration with the Underwriter. This coverage is subject to
a deductible of $10,000
each and every loss.
Solely for the purpose of
the coverage afforded by this rider, Section 2. EXCLUSIONS, paragraph (k) is
hereby deleted in its entirety.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 35
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
UNAUTHORIZED
SIGNATURES, $100K SUB-LIMIT, $10K DEDUCTIBLE
It is agreed
that:
1. The
INSURING AGREEMENTS
Clause of the attached bond is amended by adding the
following additional Insuring Agreement to the end thereof:
UNAUTHORIZED
SIGNATURES
Loss
resulting directly from the Insured having accepted, paid or cashed any check
or withdrawal order made or drawn on a customer’s account which bears the
signature or endorsement of one other than a person whose name and signature is
on file with the Insured as an authorized signatory on such account.
It
shall be a condition precedent to the Insured’s right of recovery under this
Insuring Agreement that the Insured shall have on file signatures of all
persons who are authorized signatories on such account.
2. The
Underwriter’s Aggregate Liability under this Unauthorized Signatures Insuring
Agreement shall be $100,000, which shall be part of, not in addition to, the
Aggregate Liability stated in the Declarations. A deductible amount of $10,000
shall apply to each and every loss under this Unauthorized Signatures
Insuring Agreement.
3. Nothing
contained here shall be held to vary, alter, waive or extend any of the terms,
limitations, conditions, or agreements of the attached bond other than as above
stated.
AUTHORIZED
REPRESENTATIVE
ENDORSEMENT# 36
This
endorsement, effective 12:01 am
January 31, 2013
forms a part
of
policy number: 01-602-93-28
issued to:
THE DREYFUS FUND INCORPORATED
(AND
OTHER INSUREDS INCLUDED BY ENDORSEMENT)
by: National
Union Fire Insurance Company of Pittsburgh, Pa.
FORMS INDEX
ENDORSEMENT
The contents of the Policy is comprised
of the following forms:
FORM NUMBER
|
EDITION DATE
|
FORM TITLE
|
41205
|
04/95
|
INVESTMENT COMPANY BLANKET BOND DEC
PAGE
|
41206
|
09/84
|
INVESTMENT COMPANY BLANKET BOND GUTS
|
SR6180b
|
04/88
|
NEW YORK STATUTORY
RIDER/ENDORSEMENT
|
MNSCPT
|
|
VOICE INITIATED TRANSFER FUND
|
MNSCPT
|
|
TELEFACSIMILE TRANSFER TUND
|
83231
|
01/09
|
NEW YORK LAW 3420
AMENDATORY ENDORSEMENT
|
99758
|
08/08
|
NOTICE
OF CLAIM (REPORTING BY E-MAIL
|
MNSCPT
|
|
AUTOMATED TELEPHONE TRANSACTIONS
|
MNSCPT
|
|
AMENDED FIDELITY AGREEMENT
|
MNSCPT
|
|
DESTRUCTION OF DATA BY HACKER
|
MNSCPT
|
|
OMNIBUS NAMED INSURED
|
MNSCPT
|
|
COMPUTER
SYSTEMS FRAUD INSURING AGREEMENT
|
MNSCPT
|
|
AMENED
AUDIT EXPENSE
|
MNSCPT
|
|
AMENDED
COUNTERFEIT CURRENCY
|
MNSCPT
|
|
AMENDED FORGERY OR ALTERATIONS
|
MNSCPT
|
|
AMENDED
CHANGE OF CONTROL NOTICE
|
MNSCPT
|
|
THIRD
PARTY CHECK EXCLUSION
|
MNSCPT
|
|
EXTENDED
COMPUTER SYSTEMS RIDER
|
MNSCPT
|
|
AMENDED
DEFINITION OF EMPLOYEE
|
89644
|
07/05
|
COVERAGE
TERRITORY ENDORSEMENT (OFAC)
|
MNSCPT
|
|
AMEND
INSURING AGREEMENT (I) UNCOLLECTIBLE ITEMS OF DEPOSIT
|
MNSCPT
|
|
AMEND
GENERAL AGREEMENT A- 15%
|
MNSCPT
|
|
AMEND
SECTION 1, DEFINITIONS, PROPERTY
|
MNSCPT
|
|
AMEND
SECTION 2. EXCLUSIONS (h),
|
MNSCPT
|
|
AMEND
SECTION 2, EXCLUSIONS (j),
|
MNSCPT
|
|
AMEND
SECTION 2, EXCLUSIONS (m)
|
MNSCPT
|
|
AMEND
SECTIONS 4 DISCOVERY
|
MNSCPT
|
|
AMEND
SECTIONS 5, VALUATION OF PROPERTY
|
MNSCPT
|
|
AMEND
SECTION 11. OTHER INSURANCE
|
MNSCPT
|
|
CANCELLATION
AMENDATORY – RETURN PRO-RATA
|
MNSCPT
|
|
AMEND
SECTION 13, TERMINATION
|
MNSCPT
|
|
AMEND
SECTION 15, CENTRAL HANDLING OF SECURITIES
|
MNSCPT
|
|
AMEND
SECTION 16, (d)
|
MNSCPT
|
|
AMEND
SECTION 17 – NOTICE AND CHANGE OF CONTROL
|
MNSCPT
|
|
CLAIM
EXPENSE ENDORSEMENT, $100K SUB-LIMIT, $10K DEDUCTIBLE
|
MNSCPT
|
|
UNAUTHORIZED
SIGNATURES, $100K SUB-LIMIT, $10K DEDUCTIBLE
|
78859
|
10/01
|
FORMS
INDEX ENDORSEMENT
|
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.
AUTHORIZED
REPRESENTATIVE
Dreyfus Govt Cash Administrative (NASDAQ:DAGXX)
Historical Stock Chart
From Sep 2024 to Oct 2024
Dreyfus Govt Cash Administrative (NASDAQ:DAGXX)
Historical Stock Chart
From Oct 2023 to Oct 2024