POLICYHOLDER NOTICE
Thank you for
purchasing insurance from a member company of American International Group, Inc. (AIG). The AIG member 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
AIG member companies to
brokers and independent agents in the United States by visiting
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or by calling 1-800-706-3102.
91222
(9/16)
National Union Fire Insurance Company of Pittsburgh, Pa.
A capital
stock company
POLICY
NUMBER: 04-190-80-19 REPLACEMENT OF POLICY NUMBER: 03-985-12-45
INVESTMENT COMPANY BLANKET BOND
DECLARATIONS
|
Item 1. |
Name of Insured (herein called
Insured): |
BNY MELLON LARGE CAP SECURITIES FUND,
INC. (AND OTHER INSUREDS INCLUDED BY ENDORSEMENT) |
| |
Principal Address |
200 PARK
AVE
NEW
YORK, NY 10166
|
| Item 2. |
|
Bond Period: from 12:01a.m. January 31, 2021
to 12:01a.m. January 31, 2022 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, |
| Amount applicable to |
Limit of
Liability
|
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
Optional Insuring Agreements and Coverages:
Insuring Agreement (J)-COMPUTER SYSTEMS
|
$1,000,000
$10,000,000
|
$25,000
$50,000
|
|
FRAUD
Insuring Agreement (K)-UNAUTHORIZED
|
see endorsement
|
|
|
SIGNATURES |
# 34 |
|
©All rights reserved.
1
Insuring
Agreement (L)-AUTOMATED PHONE SYSTEMS
$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:
|
Item 5. |
The liability of the Underwriter
is subject to the terms of the following riders attached hereto:
Endorsement #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, #37, #38, #39
Item 6. The Insured by the acceptance of this bond gives to
the Underwriter terminating or cancelling prior bond(s) or
policy(ies) No.(s) 03-985-12-45 such termination or cancellation to
be effective as of the time this bond becomes effective.
PREMIUM:
$47,330
©All rights reserved.
2
IN WITNESS WHEREOF, the Insurer has caused this
Policy to be signed by its President, Secretary and Authorized
Representative. This Policy shall not be valid unless signed below
at the time of issuance by an authorized representative of the
insurer.
______________
_________________________
PRESIDENT SECRETARY
National Union Fire Insurance
National
Union Fire Insurance Company of
Company of Pittsburgh,
Pa.
Pittsburgh,
Pa.
AUTHORIZED REPRESENTATIVE
__________________ _______ __________________
COUNTERSIGNED AT
DATE COUNTERSIGNATURE
MARSH
USA INC.
1166
AVENUE OF THE AMERICAS NEW YORK, NY 10036-3712
7235111
©All rights reserved.
3
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
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. |
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
41206 (9/ 84) 1
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.
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 |
All rights
reserved.
1
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.
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
41206 (9/ 84) 2
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.
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 |
|
(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, |
All rights
reserved.
2
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.
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.
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:
41206 (9/ 84)
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).
All rights reserved.
3
GENERAL
AGREEMENTS
|
A. |
ADDITIONAL OFFICES OREMPLOYEES- 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. |
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
41206 (9/ 84)
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.
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.
All rights reserved.
4
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:
|
(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 |
41206 (9/ 84)
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.
All rights reserved.
5
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 |
41206 (9/ 84)
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 |
All rights reserved.
6
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 |
|
(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
41206 (9/ 84)
All rights
reserved.
7
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 affirm ative 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
41206 (9/ 84)
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
All
rights reserved.
8
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
41206 (9/ 84) 9
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
All rights
reserved.
9
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 41206 (9/ 84) 10
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 |
All rights
reserved.
10
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
41206 (9/ 84)
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.
All
rights reserved.
11
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.
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 |
41206 (9/ 84) 12
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,
All rights
reserved.
12
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
41206 (9/ 84)
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.
All
rights reserved.
13
ENDORSEMENT#1
This endorsement,
effective
12:01 AM January 31, 2021
forms a part of
policy number 04-190-80-19
issued
to BNY MELLON LARGE CAP SECURITIES FUND, INC. (AND OT HER
INSUREDS INCLUDED BY ENDORSEMENT)
by National
Union Fire Insurance Company of Pittsburgh,
Pa.
NEW YORK AMENDATORY
ENDORSEMENT - NY STATUTE 3420
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:
All rights
reserved.
ENDORSEMENT#1
(continued)
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
All rights
reserved.
Page 2 of 2
ENDORSEMENT#2
This endorsement,
effective
12:01 AM January 31, 2021
forms a part
of
policy number 04-190-80-19
issued
to BNY MELLON LARGE CAP SECURITIES FUND, INC. (AND OT HER
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@AIG.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: AIG, 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
All rights
reserved.
2-14057 END 002
99758 (8/ 08) Page 1 of 1
ENDORSEMENT#3
This endorsement, effective at 12:01AM
January 31, 2021 forms a part of
Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE CAP
SECURITIES FUND, INC. (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
cancelation 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; |
©All rights
reserved.
END 003
1
ENDORSEMENT# 3
(continued)
This endorsement, effective at 12:01AM
January 31, 2021 forms a part of
Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE CAP
SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By:
National Union Fire Insurance Company of Pittsburgh,
Pa.
|
(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. |
©All rights
reserved.
END 003
2
ENDORSEMENT# 3
(continued)
This endorsement, effective at 12:01AM
January 31, 2021 forms a part of
Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE CAP
SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By:
National Union Fire Insurance Company of Pittsburgh,
Pa.
|
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
©All rights
reserved.
END 003
3
ENDORSEMENT# 4
This endorsement, effective at 12:01AM
January 31, 2021 forms a part of
Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE CAP
SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By:
National Union Fire Insurance Company of Pittsburgh,
Pa.
VOICE INITIATED TRANSFER
FRAUD
It is agreed that:
|
1. |
The attached bond is amended by adding an
Insuring Agreement as follows: (VIT) 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:
©All rights
reserved.
END 004
1
ENDORSEMENT# 4
(continued)
This endorsement, effective at 12:01AM
January 31, 2021 forms a part of
Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE CAP
SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By:
National Union Fire Insurance Company of Pittsburgh,
Pa.
(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. |
The section of Item 3 of the
Declarations entitled “Optional Insuring Agreements and
Coverages” is amended by adding the following: |
| |
Limit of Liability |
Deductible |
| Insuring Agreement (VIT) - VOICE INITIATED TRANSFER FRAUD |
$10,000,000 |
$50,000 |
|
4. |
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
©All rights
reserved.
END 004
2
ENDORSEMENT# 5
This endorsement, effective at 12:01AM
January 31, 2021 forms a part of
Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE CAP
SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By:
National Union Fire Insurance Company of Pittsburgh,
Pa.
FRAUDULENT TRANSFER
INSTRUCTIONS COVERAGE
In consideration of the premium charged,
it is agreed that:
|
1. |
The following Insuring Agreement is added to this
bond: (FTI) FRAUDULENT TRANSFER INSTRUCTIONS |
Loss resulting directly from
the Insured having, in good faith, transferred money on deposit in
a Customer's account, or a Customer's Certificated Securities, in
reliance upon a fraudulent instruction transmitted to the Insured
via telefacsimile, telephone, or electronic mail; provided, however
that
|
(1) |
The fraudulent instruction purports, and
reasonably appears, to have originated from: |
|
(b) |
an
Employee acting on instructions of such Customer; or |
|
(c) |
another financial institution acting on behalf of
such Customer with authority to make such instructions;
and |
|
(2) |
The sender of the fraudulent
instruction verified the instruction with the password, PIN, or
other security code of such Customer; and |
|
(3) |
The sender was not, in fact, such Customer, was
not authorized to act on behalf of such Customer, and was not an
Employee of the Insured; and |
|
(4) |
The instruction was received by an Employee of
the Insured specifically authorized by the Insured to receive and
act upon such instructions; and |
|
(5) |
For any transfer exceeding the
Verification Threshold Amount set forth below, the Insured verified
the instruction via a call back to a predetermined telephone number
set forth in the Insured's Written agreement with such Customer or
other verification procedure approved in writing by the
Underwriter; and |
|
(6) |
The Insured preserved a contemporaneous record of
the call back, if any, and of the instruction which verifies use of
the authorized password, PIN or other security code of the
Customer. |
The Verification Threshold
Amount applicable to this FRAUDULENT TRANSFER INSTRUCTIONS Insuring
Agreement is: $50,000.
©All rights
reserved.
END 005
1
ENDORSEMENT# 5
(continued)
This endorsement, effective at 12:01AM
January 31, 2021 forms a part of
Policy number: 04-190-80-19
Issued to: BNY MELLON LARGE CAP
SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By:
National Union Fire Insurance Company of Pittsburgh,
Pa.
|
2. |
Solely with respect to the FRAUDULENT TRANSFER
INSTRUCTIONS Insuring Agreement, the following definitions shall
apply: |
(FTI-1) “Certificated Security” means a share, participation or
other interest in property of or an enterprise of the issuer or an
obligation of the issuer, which is:
|
(i) |
represented by a written instrument issued in
bearer or registered form; |
|
(ii) |
of
a type commonly dealt in on securities exchanges or markets or commonly recognized in any area in which it is issued or dealt in as a medium for investment; and |
|
(iii) |
either one of a class or series or by its terms
divisible into a class or series of shares, participations,
interests or obligations. |
(FTI-2) “Customer” means a natural person or entity which has a
written agreement with the Insured authorizing the Insured to
transfer money on deposit in an account or Certificated Securities
in reliance upon instructions transmitted to the Insured via the
means utilized to transmit the fraudulent instruction.
|
3. |
It shall be a condition precedent to
coverage under the FRAUDULENT TRANSFER INSTRUCTIONS Insuring
Agreement that the Insured assert any available claims, offsets or
defenses against such Customer, any financial institution or any
other party to the transaction. |
|
4. |
The following additional Exclusions
are added to the Bond applicable only to this Insuring
Agreement: |
(FTI-1) loss resulting directly or indirectly from a fraudulent
instruction if the sender, or anyone acting in collusion with the
sender, ever had authorized access to such Customer's password, PIN
or other security code; and
(FTI-2) loss resulting directly or indirectly from the fraudulent
alteration of an instruction to initiate an automated clearing
house (ACH) entry, or group of ACH entries, transmitted as an
electronic message, or as an attachment to an electronic message,
sent via the Internet, unless:
|
(i) |
each ACH entry was individually
verified via the call back procedure without regard to the amount
of the entry; or |
©All rights reserved.
END 005
2
ENDORSEMENT#
5 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(ii) |
the instruction was formatted, encoded or
encrypted so that any alteration in the ACH entry or group of ACH
entries would be apparent to the Insured. |
|
5. |
The “Optional Insuring Agreements and
Coverages” section of Item 3 of the Declarations of this
bond is amended by adding the following at the end
thereof: |
| |
Limit of Liability |
Deductible |
| Insuring Agreement (FTI)- FRAUDULENT TRANSFER INSTRUCTIONS |
$10,000,000 |
$50,000 |
|
6. |
Nothing contained herein 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
©All rights reserved.
END 005
3
ENDORSEMENT#
6
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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: |
(L)
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.
©All rights reserved.
END 006
1
ENDORSEMENT#
6 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
“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: |
|
(i) |
Begin by saying or pressing his/her
account number, then say or press his/her PIN, or |
|
(ii) |
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). |
|
(iii) |
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 |
©All rights reserved.
END 006
2
ENDORSEMENT#
6 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
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. and DST Systems, Inc., accesses the hardware housing the
Mutual Fund On-Line system which effects transactions. |
|
3. |
By
adding the following SECTION after Section 2,
EXCLUSIONS: |
This bond does not directly or indirectly cover under AUTOMATED
PHONE SYSTEMS INSURING AGREEMENT any loss resulting from:
(L-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;
(L-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;
(L-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
(L-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
©All rights reserved.
END 006
3
ENDORSEMENT#
7
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
It is
agreed that:
AMENDED FIDELITY AGREEMENT (ELECTRONIC DAMAGE OR DESTRUCTION)
|
1. |
Insuring Agreement (A) FIDELITY is hereby deleted
in its entirety and replaced with the following: |
(1)
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. |
Notwithstanding the foregoing, however, it is agreed that with
regards to loss resulting directly or indirectly from loans and/or
trading, this bond covers only loss resulting directly from
dishonest or fraudulent acts committed by an Employee with the
intent to cause the Insured to sustain such loss and which results
in a financial benefit for the Employee.
As used in this Insuring Agreement, “financial benefit” does not
include any employee benefits earned in the normal course of
employment, including: salaries, commissions, fees, bonuses,
promotions, awards, profit sharing or pensions.
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
©All rights reserved.
END 007
1
ENDORSEMENT#
7 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
payments have been solely as the result of the Employee having
committed a dishonest or fraudulent act covered under this
bond.
(2)
Loss resulting directly from the
malicious destruction of or the malicious damage to an Electronic
Instructions, Electronic Data or Electronic Media in an Insured’s
Computer System committed by an Employee, whether committed alone
or in collusion with others, provided that any coverage afforded
under this bond by virtue of this subparagraph (2) shall only apply
to loss that is Restoration Costs.
|
2. |
Solely for the purpose of Insuring Agreement (A)
FIDELITY (as amended by this rider), the following definitions are
added to the attached bond: |
“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, |
|
(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. |
As used herein, “the Insured’s Computer System” shall mean a
Computer System operated by the Insured, whether owned or leased;
or a Computer System identified in the application for this
bond.
“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.
“Electronic Instruction” means computer programs converted to a
form usable in a Computer System to act upon Electronic Data.
“Electronic Media” means the magnetic tape, magnetic disk, optical
disk or any other bulk media on which data is recorded.
©All rights reserved.
END 007
2
ENDORSEMENT#
7 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
“Loans” means all extensions of credit by the Insured and all
transactions creating a creditor relationship in favor of the
Insured and all transactions by which the Insured assumes an
existing creditor relationship.
“Restoration Costs” means Restoration Costs means reasonable and
necessary costs or expenses incurred by the Insured with the
Underwriter’s prior written consent to restore or repair an
Insured’s damaged or destroyed Electronic Data, Electronic
Instructions or Electronic Media; provided that if it is determined
that such Electronic Data, Electronic Instructions or Electronic
Media cannot be restored or repaired, then Restoration Costs means
solely those reasonable costs or expenses incurred by the Insured,
with the Underwriter’s prior written consent, to reach such
determination.
Notwithstanding the foregoing, Restoration Costs shall not include,
and in no event shall any Insuring Agreement of this bond
cover:
|
(1) |
any costs related directly or
indirectly to the damage or destruction of Electronic Data,
Electronic Media or Electronic Instructions (or other software or
programs) that the Insured did not have a license to use;
or |
|
(2) |
any costs or expenses incurred to
redo the work product, research or analysis that was the basis of
any damaged or destroyed Electronic Data, Electronic Media or
Electronic Instructions (or other software or
programs). |
“Trading” means trading or other dealings in securities,
commodities, futures, options, swaps, foreign or federal funds,
currencies, foreign exchange and the like.
|
3. |
Solely with respect to this rider, Section 5.
VALUATION OF PROPERTY is amended by adding the following at the end
thereof: |
Electronic Data, Electronic Media, or Electronic
Instruction
In case of loss of, or damage to, Electronic Data, Electronic
Media, or Electronic Instruction that is covered by this bond, the
Underwriter’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
©All rights reserved.
END 007
3
ENDORSEMENT#
7 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
Liability. In the event that any Electronic Data, Electronic Media
or Electronic Instruction cannot be reproduced as outlined in this
paragraph, the valuation of such Electronic Data, Electronic Media,
or Electronic Instruction shall be those reasonable and necessary
costs or expenses incurred by the Insured with the Underwriter’s
prior consent to reach such determination that such Electronic
Data, Electronic Media or Electronic Instruction cannot be
reproduced.
However, if such Electronic Data cannot be reproduced and said
Electronic Data represents securities or other financial
instruments having a value, then said loss will be valued as
indicated in the Securities and other Property paragraphs of this
Section.
In case of loss of, or damage to, Electronic Media used by the
Insured that is covered by this bond, the Underwriter shall be
liable under this bond only if replaced and then only for not more
than the actual cost of replacing the damaged or destroyed media
with blank media of a similar kind of quality.
|
4. |
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. |
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 007
4
ENDORSEMENT#
8
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
DESTRUCTION OF DATA OR PROGRAMS BY VIRUS RIDER
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: |
DESTRUCTION OF DATA OR PROGRAMS BY VIRUS
(DV) Loss that is Restoration Costs resulting directly from the
malicious destruction of, or damage to, Electronic Data, Electronic
Media or Electronic Instructions owned by the Insured or for which
the Insured is legally liable while stored within the Insured’s
Computer System 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, Electronic Media or Electronic Instructions
in the Computer System in which the computer program or instruction
so written or so altered is used.
Special Condition: with respect to the coverage provided
under this Insuring Agreement, all covered Restoration Costs
incurred by the Insured between the time destruction or damage is
discovered and the time the affected Electronic Data, Electronic
Media or Electronic Instruction(s) is/are restored or repaired (or
a determination has been made that such restoration or repair is
impossible) shall be treated as a single “loss” and subject to the
applicable Limit of Liability. Recurrence of destruction or damage
after the Electronic Data, Electronic Media or Electronic
Instruction(s) is/are restored or repaired shall constitute a
separate single “loss”.
|
2. |
The section of Item 3 of the Declarations
entitled “Optional Insuring Agreements and Coverages” is
amended by adding the following: |
| |
Limit of Liability |
Deductible |
| Insuring Agreement (DV) – DESTRUCTION OF DATA OR PROGRAMS BY
VIRUS |
$10,000,000 |
$50,000 |
©All rights reserved.
END 008
1
ENDORSEMENT#
8 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
3. |
All the definitions stated in paragraph 2 of the
Extended Computer Systems Rider of this bond shall also apply to
the coverage granted under Insuring Agreement (DV). |
|
4. |
Solely with respect to the coverage
provided by this rider, the following definition is added to the
attached bond: |
DV-1. “Restoration Costs” means reasonable and necessary costs or
expenses incurred by the Insured with the Insurer’s prior written
consent to restore or repair damaged or destroyed Electronic Data,
Electronic Media or Electronic Instruction within a Computer
System; provided that if it is determined that such Electronic
Data, Electronic Media or Electronic Instructions cannot be
restored or repaired, then Restoration Costs means solely those
reasonable costs or expenses incurred by the Insured, with the
Insurer’s prior written consent, to reach such determination.
Notwithstanding the foregoing or any other provision to the
contrary, however, Restoration Costs shall not include, and in no
event shall any Insuring Agreement of this bond cover:
|
(1) |
any costs related directly or
indirectly to the damage or destruction of Electronic Data,
Electronic Media, or Electronic Instructions (or other software or
computer programs) that the Insured did not have a license to use;
or |
|
(2) |
any costs or expenses incurred to redo the work
product, research or analysis that was the basis of any damaged or
destroyed Electronic Data, Electronic Media or Electronic
Instructions (or other software or computer programs). |
|
5. |
It is further understood and agreed that all the
exclusions stated in paragraph 3 of the Extended Computer Systems
Rider of this bond shall also apply to the coverage granted under
Insuring Agreement (DV). |
|
6. |
It is further understood and agreed
that all the amendments to Section 5. VALUATION OF PROPERTY stated
in paragraph 4 of the Extended Computer Systems Rider of this bond
shall also apply to the coverage granted under Insuring Agreement
(DV). |
©All rights reserved.
END 008
2
ENDORSEMENT#
8 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
7. |
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
©All rights reserved.
END 008
3
ENDORSEMENT#
9
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
ECONOMIC SANCTIONS ENDORSEMENT
Product
Name: Investment Company Blanket Bond
This
endorsement modifies insurance provided under the
following:
Coverage shall only be provided and payment of loss under this
policy shall only be made in full compliance with enforceable
United Nations economic and trade sanctions and the trade and
economic sanction laws or regulations of the European Union and the
United States of America, 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").
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 009
1
ENDORSEMENT#
10
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
DESTRUCTION OF DATA OR PROGRAMS BY HACKER RIDER
It is agreed
that
|
1. |
The
following Insuring Agreement is added to the bond: |
(DH) 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.
Special Condition
Under this Insuring Agreement, 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 shall be treated as a
single loss and subject to the applicable Limit of Liability.
Recurrence of destruction or damage after the Computer System is
restored shall constitute a separate single Loss.
|
2. |
With respect to Insuring Agreement (DH)
Destruction of Data or Programs by Hacker, the following
Definitions are added: |
©All rights reserved.
END 010
1
ENDORSEMENT#
10 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
“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.
“Computer System” shall mean a “Computer System” covered under the
terms of Insuring Agreement (J) (Computer Systems Fraud) of this
bond.
|
3. |
The section of Item 3 of the Declarations
entitled “Optional Insuring Agreements and Coverages” is
amended by adding the following: |
| |
Limit of Liability |
Deductible |
| Insuring Agreement (DH) - DESTRUCTION OF DATA OR PROGRAMS BY
HACKER |
$10,000,000 |
$50,000 |
|
4. |
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
©All rights reserved.
END 010
2
ENDORSEMENT#
11
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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: |
(J) COMPUTER
SYSTEMS FRAUD
Loss
resulting directly 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 fraudulent 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
(CSF-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.
(CSF-B) Computer System means:
©All rights reserved.
END 011
1
ENDORSEMENT#
11 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(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.
(CSF-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
This bond shall not cover:
(CSF-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;
(CSF-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.
(CSF-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 |
©All rights reserved.
END 011
2
ENDORSEMENT#
11 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(3) |
error
or omission in programming or processing. |
(CSF-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.
(CSF-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
applicable Limit of Liability listed in Item 3 of the Declarations.
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 applicable Limit of Liability listed in Item 3
of the Declarations.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 011
3
ENDORSEMENT#
12
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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
1
ENDORSEMENT#
13
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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
©All rights reserved.
END 013
1
ENDORSEMENT#
14
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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.
©All rights reserved.
END 014
1
ENDORSEMENT#
14 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
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
©All rights reserved.
END 014
2
ENDORSEMENT#
15
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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
1
ENDORSEMENT#
16
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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
1
ENDORSEMENT#
17
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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: |
(ECS) 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 the Insured’s Computer System; or |
|
(2) |
robbery, burglary, larceny or theft
of Electronic Data, Electronic Media or Electronic Instruction
stored within the Insured’s Computer System. |
|
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 |
©All rights reserved.
END 017
1
ENDORSEMENT#
17 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
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, solely with
respect to Insuring Agreement (ECS), the following: |
ECS-1. “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.
ECS-2. “Computer System(s)” 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, |
©All rights reserved.
END 017
2
ENDORSEMENT#
17 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(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. |
As used herein, “the Insured’s Computer System” shall mean a
Computer System operated by the Insured, whether owned or leased;
or a Computer System identified in the application for this
bond.
ECS-3. “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.
ECS-4. “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.
ECS-5. “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.
ECS-6. “Electronic Instruction” means computer programs converted
to a form usable in a Computer System to act upon Electronic
Data.
ECS-7. “Electronic Media” means the magnetic tape, magnetic disk,
optical disk or any other bulk media on which data is recorded.
|
3. |
By
adding the following to Section 2. EXCLUSIONS of the
bond: |
It is further understood and agreed that notwithstanding any
provision to the contrary, this bond does not cover:
|
(1) |
any costs related directly or
indirectly to the damage or destruction of Electronic Data,
Electronic Media, or Electronic Instructions (or other software or
computer programs) that the Insured did not have a license to use;
or |
©All rights reserved.
END 017
3
ENDORSEMENT#
17 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(2) |
any costs or expenses incurred to
redo the work product, research or analysis that was the basis of
any damaged or destroyed Electronic Data, Electronic Media or
Electronic Instructions (or other software or computer
programs). |
It is further understood and agreed that Insuring Agreement (ECS)
does not cover: (ECS-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:
(ECS-B) loss of negotiable instruments, Securities, documents or
other written instruments except as converted to Electronic Data
and then only in that converted from;
(ECS-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;
(ECS-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;
(ECS-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
(ECS-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. |
(ECS-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,
©All rights reserved.
END 017
4
ENDORSEMENT#
17 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
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 that is covered by this bond, the
Underwriter’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 that any
Electronic Data, Electronic Media or Electronic Instruction cannot
be reproduced as outlined in this paragraph, the valuation of such
Electronic Data, Electronic Media, or Electronic Instruction shall
be those reasonable and necessary costs or expenses incurred by the
Insured with the Underwriter’s prior consent to reach such
determination that such Electronic Data, Electronic Media or
Electronic Instruction cannot be reproduced.
However, if such Electronic Data cannot be reproduced and said
Electronic Data represents securities or other financial
instruments having a value, then said loss will be valued as
indicated in the Securities and other Property paragraphs of this
Section.
In case of loss of, or damage to, Electronic Media used by the
Insured that is covered by this bond, the Underwriter shall be
liable under this bond only if replaced and then only for not more
than the actual cost of replacing the damaged or destroyed media
with blank media of a similar kind of quality.
|
5. |
The section of Item 3 of the Declarations
entitled “Optional Insuring Agreements and Coverages” is
amended by adding the following: |
Deductible
| |
Limit of Liability |
Deductible |
| Insuring Agreement (ECS) – EXTENDED COMPUTER SYSTEMS |
$10,000,000 |
$50,000 |
©All rights reserved.
END 017
5
ENDORSEMENT#
17 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
6. |
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. |
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 017
6
ENDORSEMENT#
18
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
DEFINITION OF EMPLOYEE AMENDED
It is
agreed that:
|
1. |
The definition of Employee in Section
1. DEFINITIONS of this bond 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) |
|
(10) non-fund soliciting volunteer
workers while working under the direction and control of the
Insured; |
X
|
|
(11) |
employees of; |
|
performing
|
work |
duties |
for |
|
|
(11) employees of;________performing work duties for
____________; |
|
|
(12) non-compensated officers,
directors or trustees while performing duties as an
employee; |
X
|
|
(13) interns and non-compensated
interns; |
X |
|
(14) 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
|
|
(15) retired employees employed on a
consulting, contingent or part-time basis; |
X
|
|
(16) former employees for up to sixty
(60) days after termination, provided termination was not due to a
loss covered by the bond; |
X
|
|
(17) any employee on an approved
leave of absence or military deployment; |
X
|
| |
|
|
|
|
|
|
|
©All rights reserved.
END 018
1
ENDORSEMENT#
18 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(18) 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
|
|
(19)
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;
|
|
|
(20) 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 last paragraph of Section 13. TERMINATION of this
bond; |
|
|
(21) 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
|
|
(22) temporary or part-time
workers. |
X |
©All rights reserved.
END 018
2
ENDORSEMENT#
18 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(23) 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. |
In Section 1. DEFINITIONS of this bond, the
definition of “Employee,” is amended by deleting subparagraph (9)
in its entirety and replacing it with the following: |
|
(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
©All rights reserved.
END 018
3
ENDORSEMENT#
18 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
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.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 018
4
ENDORSEMENT#
19
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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:
(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” 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
©All rights reserved.
END 019
1
ENDORSEMENT#
20
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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 |
©All rights reserved.
END 020
1
ENDORSEMENT#
20 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
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
©All rights reserved.
END 020
2
ENDORSEMENT#
21
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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
1
ENDORSEMENT#
22
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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 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
1
ENDORSEMENT#
23
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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
1
ENDORSEMENT#
24
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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
©All rights reserved.
END 024
1
ENDORSEMENT#
25
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 4 DISCOVERY - Draft (POSITIONS OF KNOWLEDGE)
In
consideration of the premium charged, it is hereby understood and
agreed that Section 4.
LOSS-NOTICE-PROOF-LEGAL PROCEEDINGS of the TERMS AND CONDITIONS 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 by the Insured, 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 of loss by the Insured occurs when the Specified Insured
Personnel
|
(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 |
©All rights reserved.
END 025
1
ENDORSEMENT#
25 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
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.
As used herein “Specified Insured Personnel” mean any of the
personnel listed in the schedule below:
SPECIFIED INSURED PERSONNEL
The BNY Mellon Insurance Manager, Senior Counsel of BNY Mellon
Investment Adviser, Inc. with insurance responsibilities, or
Counsel of BNY Mellon Investment Adviser, Inc. with insurance
responsibilities.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 025
2
ENDORSEMENT# 26
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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
©All rights reserved.
END 026
1
ENDORSEMENT# 27
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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 FINFW1900615 (12/01/2019 to 12/01/2020) including renewals and
replacements thereof.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 027
1
ENDORSEMENT# 28
This endorsement, effective at
12:01 AM January 31, 2021
forms a part of
Policy number
04-190-80-19
Issued to:
BNY MELLON LARGE CAP SECURITIES FUND, INC. (AND OT HER 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
All rights reserved.
2-14057 END 028
101036 (4/
09) Page 1 of 1
ENDORSEMENT# 29
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 13. TERMINATION
(POSITIONS WITH KNOWLEDGE, PRIOR DISHONESTY WITH REINSTATEMENT
AVAILABLE)
In
consideration of the premium charged, it is hereby understood and
agreed that SECTION
13.
TERMINATION of the TERMS AND
CONDITIONS of this bond 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 any
Specified Insured Personnel, 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 |
©All rights reserved.
END 029
ENDORSEMENT# 29 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
|
(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 any Specified Insured Personnel who is
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 any Specified Insured Personnel
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 all Specified Insured Personnel 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.
As used herein, “prior dishonest or fraudulent act” means 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.
As used herein, “Specified Insured Personnel” means any of the
personnel of the Insured listed in the schedule below:
SPECIFIED INSURED PERSONNEL
The BNY Mellon Insurance Manager, Senior Counsel of BNY Mellon
Investment Adviser, Inc. with insurance responsibilities, or
Counsel of BNY Mellon Investment Adviser, Inc. with insurance
responsibilities.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 029
ENDORSEMENT# 30
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (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
©All rights reserved.
END 030
ENDORSEMENT# 30 (continued)
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
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
©All rights reserved.
END 030
ENDORSEMENT# 31
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 16 (d) (POSITIONS OF KNOWLEDGE/DISCOVERY)
In
consideration of the premium charged, it is hereby understood and
agreed as follows:
|
1. |
In SECTION 16. ADDITIONAL COMPANIES INCLUDED AS
INSURED of the TERMS AND CONDITIONS of this bond, subparagraph (d)
is deleted in its entirety and replaced with the
following: |
(d) knowledge possessed or discovery made by any Specified Insured
Personnel shall for the purposes of Section 4 and Section 13 of
this bond constitute knowledge or discovery by all the Insured,
and
|
2. |
As used herein, “Specified Insured Personnel”
means any of the personnel of the Insured listed in the schedule
below: |
SPECIFIED INSURED PERSONNEL
The BNY Mellon Insurance Manager, Senior Counsel of BNY Mellon
Investment Adviser, Inc. with insurance responsibilities, or
Counsel of BNY Mellon Investment Adviser, Inc. with insurance
responsibilities.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 031
ENDORSEMENT# 32
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AMEND SECTION 17. NOTICE AND CHANGE OF CONTROL (POSITIONS OF
KNOWLEDGE, NOTICE PERIOD)
In consideration of the premium charged, is it hereby understood
and agreed that Section
17.
NOTICE AND CHANGE OF CONTROL of the
CONDITIONS AND LIMITATIONS of this bond is deleted in its entirety
and replaced with the following:
SECTION
17. NOTICE AND CHANGE OF CONTROL
Upon the obtaining of knowledge by the BNY Mellon Insurance
Manager, Senior Counsel of BNY Mellon Investment Adviser, Inc. with
insurance responsibilities, or Counsel of BNY Mellon Investment
Adviser, Inc. with insurance responsibilities, 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 sixty (60) 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
©All rights reserved.
END 032
ENDORSEMENT# 33
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
CLAIMS EXPENSE ENDORSEMENT
In consideration of the premium charged, it is hereby understood
and agreed that:
|
1. |
The bond is amended by adding Insuring Agreement
(CE) to the bond as follows: (CE) CLAIMS EXPENSE |
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 exceeding $50,000
that is covered under Insuring Agreements A, B, C, D, E, F, G, H,
and/or I and any other valid coverage added by rider. If no loss is
established thereunder, then the Insured will bear all such
expenses. There shall be no coverage hereunder for any expenses
arising out of any legal dispute, suit or arbitration with the
Underwriter.
|
2. |
Solely for the purpose of the coverage afforded
by this rider, Section 2. EXCLUSIONS, paragraph (k) is hereby
deleted in its entirety. |
|
3. |
The section of Item 3 of the Declarations
entitled “Optional Insuring Agreements and Coverages” is
amended by adding the following: |
| |
Limit of Liability |
Deductible |
| Insuring Agreement (CE) - CLAIMS EXPENSE |
$100,000 |
$10,000 |
|
4. |
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
©All rights reserved.
END 033
ENDORSEMENT# 34
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
UNAUTHORIZED SIGNATURES
In consideration of the premium charged, it is hereby understood
and agreed that:
|
1. |
The INSURING AGREEMENTS Clause of the attached
bond is amended by adding the following additional Insuring
Agreement to the end thereof: |
(US) 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 section of Item 3 of the Declarations
entitled “Optional Insuring Agreements and Coverages” is
amended by adding the following: |
| |
Limit of Liability |
Deductible |
| Insuring Agreement (US) - UNAUTHORIZED SIGNATURES |
$100,000 |
$10,000 |
|
3. |
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
©All rights reserved.
END 034
ENDORSEMENT# 35
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
PROTECTED INFORMATION EXCLUSION (CARVEBACK)
This endorsement modifies insurance provided under the
following:
EXCESS EDGE FOLLOW FORM BOND
BROKER-DEALER GUARD
INVESTMENT
COMPANY BLANKET BOND
In consideration of the premium charged, it is hereby understood
and agreed that this policy does not cover loss resulting directly
or indirectly from the: (i) “theft,” disappearance or destruction
of; (ii) unauthorized use or disclosure of; (iii) unauthorized
access to; or (iv) failure to protect any:
|
(1) |
confidential or non-public; or |
|
(2) |
personal
or personally identifiable; |
information that any person or entity has a duty to protect under
any law, rule or regulation, any agreement or any industry
guideline or standard.
This
exclusion shall not apply to loss of any money, securities or
tangible property:
|
(a) |
owned by
the Insured; |
|
(b) |
held by
the Insured in any capacity; or |
|
(c) |
owned and held by someone else under
circumstances which make the Insured responsible for the Property
prior to the occurrence of the loss; |
that was the subject of a theft, disappearance, damage or
destruction resulting directly from the unauthorized use or
disclosure of such information.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 035
ENDORSEMENT# 36
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
It is
agreed that:
OMNIBUS NAMED INSURED (BNY MELLON)
|
1. |
In addition to the entity listed in
Item 1 of the Declaration page, the term “Insured” as used in the
attached bond is amended (provided such amendment is permitted by
law) to include: |
|
(i) |
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; and |
|
(ii) |
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 BNY Mellon Investment Adviser,
Inc. or any entity now or hereafter majority owned or management
controlled by BNY Mellon Investment Adviser, Inc., 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 fifty percent (50%) 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. |
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 036
ENDORSEMENT# 37
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
AUTOMATIC FUND COVERAGE AND LIMIT INCREASE RIDER
In
consideration of the premium charged, it is hereby understood and
agreed that:
|
1. |
If the Insured shall, while this bond
is in force, establish any new funds other than by consolidation or
merger with, purchase or acquisition of assets or liabilities of,
another institution, such funds shall automatically be covered
hereunder from the date of such establishment without the payment
of additional premium for the remainder of the premium
period. |
|
2. |
If the Insured shall, while this bond is in
force, require an increase in limits to comply with SEC Rule 17g-1
of the Investment Company Act of 1940, due to an increase in asset
size of current funds insured under the bond or by the addition of
new funds, then such increase in limits shall automatically be
covered hereunder from the date of such increase without the
payment of additional premium for the remainder of the premium
period. |
|
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
©All rights reserved.
END 037
MNSCPT 1
ENDORSEMENT# 38
This endorsement, effective
at 12:01AM January 31, 2021 forms a part of Policy number:
04-190-80-19
Issued to: BNY MELLON LARGE
CAP SECURITIES FUND, INC. (AND OTHER INSUREDS INCLUDED BY
ENDORSEMENT)
By: National Union Fire Insurance
Company of Pittsburgh, Pa.
NEW YORK PUNITIVE DAMAGES AMENDATORY ENDORSEMENT
Product Name: Investment Company Blanket Bond
It is hereby understood and agreed that notwithstanding anything to
the contrary herein, any coverage for punitive, exemplary and
multiplied damages shall not apply if uninsurable under the law
pursuant to which this policy shall be construed. This policy shall
be construed under the laws of the state where: (1) the act or
occurrence giving rise to such punitive, exemplary or multiple
damages actually or allegedly occurred; (2) the claim seeking such
punitive, exemplary or multiplied damages was brought; (3) the
judgment or damages were awarded; or (4) the individual subject to
such punitive, exemplary or multiple damages resides, or where an
entity that is subject to such punitive, exemplary or multiple
damages is incorporated or has its principal place of business.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 038
127071
(09/17) 1
ENDORSEMENT# 39
This
endorsement,
effective
12:01 AM January 31, 2021
forms a part of
policy
number 04-190-80-19
issued
to BNY MELLON LARGE CAP SECURITIES FUND, INC. (AND OT HER
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 DECLARATIONS |
|
|
|
41206 |
09/84 |
Investment Company
Blanket Bond guts |
|
|
|
83231 |
01/09 |
NEW YORK LAW 3420
AMENDATORY ENDORSEMENT |
|
|
|
99758 |
08/08 |
NOTICE OF CLAIM
(REPORTING BY E-MAIL) |
|
|
|
SR6180b |
04/88 |
NEW YORK STATUTORY
RIDER/ENDORSEMENT |
|
|
|
MNSCPT |
|
VOICE INITIATED
TRANSFER FRAUD |
|
|
|
127417 |
11/17 |
FRAUDULENT TRANSFER
INSTRUCTIONS COVERAGE |
|
|
|
MNSCPT |
|
AUTOMATED TELEPHONE
TRANSACTIONS |
|
|
|
140032 |
01/21 |
AMENDED FIDELITY
AGREEMENT |
|
|
|
140064 |
01/21 |
DESTRUCTION OF DATA OR
PROGRAMS BY VIRUS RIDER |
|
|
|
119679 |
09/15 |
ECONOMIC SANCTIONS
ENDORSEMENT |
|
|
|
140062 |
01/21 |
DESTRUCTION OF DATA OR
PROGRAMS BY HACKER RIDER |
|
|
|
132744 |
05/19 |
COMPUTER SYSTEMS FRAUD
INSURING AGREEMENT |
|
|
|
MNSCPT |
|
AMENDED AUDIT
EXPENSE |
|
|
|
MNSCPT |
|
AMENDED COUNTERFEIT
CURRENCY |
|
|
|
MNSCPT |
|
AMENDED FORGERY OR
ALTERATIONS |
|
|
|
MNSCPT |
|
AMENDED CHANGE OF
CONTROL NOTICE |
|
|
|
MNSCPT |
|
THIRD PARTY CHECK
EXCLUSION |
|
|
|
140024 |
01/21 |
EXTENDED COMPUTER
SYSTEMS RIDER |
|
|
|
MNSCPT |
|
DEFINITION OF EMPLOYEE
AMENDED |
|
|
|
MNSCPT |
|
AMEND INSURING
AGREEMENT (I) OF DEPOSIT UNCOLLECTIBLE ITEMS |
|
|
|
MNSCPT |
|
AMEND GENERAL AGREEMENT
A- 15% |
|
|
|
MNSCPT |
|
AMEND SECTION 1,
DEFINITIONS, PROPERTY |
|
|
©All rights reserved.
END 039
Page 1 of 2
ENDORSEMENT# 39
This
endorsement,
effective
12:01 AM January 31, 2021
forms a part of
policy
number 04-190-80-19
issued
to BNY MELLON LARGE CAP SECURITIES FUND, INC. (AND OT HER
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
AMEND |
|
MNSCPT |
|
SECTION 2,
EXCLUSIONS (H), AMEND |
|
MNSCPT |
|
SECTION 2,
EXCLUSIONS (J), AMEND |
|
MNSCPT |
|
SECTION 2,
EXCLUSIONS (M) |
|
MNSCPT |
|
AMEND
SECTION 4 DISCOVERY - Draft |
|
MNSCPT |
|
AMEND
SECTION 5, VALUATION OF PROPERTY |
|
MNSCPT |
|
AMEND
SECTION 11. OTHER INSURANCE |
|
101036 |
04/09 |
CANCELLATION
AMENDATORY (RETURN PRO RATA) |
|
135619 |
03/20 |
AMEND
SECTION 13. TERMINATION |
|
MNSCPT |
|
AMEND
SECTION 15, CENTRAL HANDLING OF SECURITIES |
|
135617 |
03/20 |
AMEND
SECTION 16 (d) |
|
135615 |
03/20 |
AMEND
SECTION 17. NOTICE AND CHANGE OF CONTROL |
|
MNSCPT |
|
CLAIMS
EXPENSE ENDORSEMENT |
|
MNSCPT |
|
UNAUTHORIZED
SIGNATURES |
|
115903 |
10/13 |
PROTECTED
INFORMATION EXCLUSION |
|
135612 |
02/20 |
OMNIBUS
NAMED INSURED |
|
MNSCPT |
|
AUTOMATIC
FUND COVERAGE AND LIMIT INCREASE RIDER |
|
127071 |
09/17 |
NEW YORK
PUNITIVE DAMAGES AMENDATORY ENDORSEMENT |
|
78859 |
10/01 |
FORMS
INDEX ENDORSEMENT |
ALL
OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE
©All rights reserved.
END 039
Page 2 of 2
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