Specific Exclusions -
Applicable
To All Insuring
Clauses Except Insuring
Clause 1.
(continued)
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f.
loss resulting from the failure for any reason of a financial
or depository institution, its receiver or other liquidator to pay or deliver funds or other
Property
to the ASSURED provided
further that this Section 3.f. shall not apply to loss of
Property
resulting directly from robbery, burglary, misplacement,
mysterious unexplainable disappearance, damage, destruction or removal from the possession, custody or control of the ASSURED.
g.
loss of
Property
while in the custody of a
Transportation Company
, provided however, that this Section 3.g.
shall not apply to INSURING CLAUSE 3.;
h.
loss resulting from entries or changes made by a natural person
with authorized access to a
Computer System
who acts in good faith on instructions, unless such instructions are given
to that person by a software contractor or its partner, officer, or employee authorized by the ASSURED to design, develop, prepare,
supply, service, write or implement programs for the ASSURED's
Computer System
; or
i.
loss resulting directly or indirectly from the input of data
into a
Computer System
terminal, either on the premises of the customer of the ASSURED or under the control of such a customer,
by a customer or other person who had authorized access to the customer's authentication mechanism.
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Specific
Exclusions -
Applicable To All Insuring
Clauses
Except Insuring
Clauses 1., 4., And 5.
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4.
This
bond does not directly or indirectly cover:
a.
loss resulting from the complete or partial non-payment of or
default on any loan whether such loan was procured in good faith or through trick, artifice, fraud or false pretenses; provided,
however, this Section 4.a. shall not apply to INSURING CLAUSE 8.;
b.
loss resulting from forgery or any alteration;
c.
loss involving a counterfeit provided, however, this
Section 4.c. shall not apply to INSURING CLAUSE 5. or 6.
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Limit Of Liability/NonReduction
And Non-Accumulation Of Liability
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5. At
all times prior to termination of this Bond, this Bond shall continue in force for the limit stated in the applicable
sections of ITEM 2. of the DECLARATIONS, notwithstanding any previous loss for which the COMPANY may have paid or be liable
to pay under this Bond provided, however, that the liability of the COMPANY under this Bond with respect to all loss resulting
from:
a.
any one act of burglary, robbery or hold-up, or attempt thereat,
in which no
Employee
is concerned or implicated, 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
, or
c.
all acts, other than those specified in a. above, of any one
person, or
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Notice
To Company – Proof – Legal Proceedings Against Company
(continued)
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f. Proof
of loss involving
Voice Initiated Funds Transfer Instruction
shall include electronic recordings of such instructions.
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Deductible Amount
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8. The COMPANY shall not be liable under any INSURING CLAUSES of this Bond on account of loss unless the amount of such loss, after
deducting the net amount of all reimbursement and/or recovery obtained or made by the ASSURED, other than from any Bond or policy
of insurance issued by an insurance company and covering such loss, or by the COMPANY on account thereof prior to payment by the
COMPANY of such loss, shall exceed the DEDUCTIBLE AMOUNT set forth in ITEM 3. of the DECLARATIONS, and then for such excess only,
but in no event for more than the applicable LIMITS OF LIABILITY stated in ITEM 2. of the DECLARATIONS.
There shall be no deductible applicable to
any loss under INSURING CLAUSE 1. sustained by any
Investment Company
.
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Valuation
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9.
BOOKS OF ACCOUNT
OR OTHER RECORDS
The value of any loss of
Property
consisting
of books of account or other records used by the ASSURED in the conduct of its business shall be the amount paid by the ASSURED
for blank books, blank pages, or other materials which replace the lost books of account or other records, plus the cost of labor
paid by the ASSURED for the actual transcription or copying of data to reproduce such books of account or other records.
The value of any loss of
Property
other than books of account or other records used by the ASSURED in the conduct of its business, for which a claim is made
shall be determined by the average market value of such
Property
on the business day immediately preceding discovery of
such loss provided, however, that the value of any
Property
replaced by the ASSURED with the consent of the COMPANY and
prior to the settlement of any claim for such
Property
shall be the actual market value at the time of replacement.
In the case of a loss of interim certificates,
warrants, rights or other securities, the production of which is necessary to the exercise of subscription, conversion, redemption,
or deposit privileges, the value of them shall be the market value of such privileges immediately preceding their expiration if
said loss 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.
OTHER PROPERTY
The value of any loss of
Property,
other than as stated above,
shall be the actual cash value or the cost of repairing or replacing such
Property
with
Property
of like quality
and value, whichever is less.
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Conditions and Limitations
Termination
(continued)
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If
any partner, director, trustee, or officer or supervisory employee of an ASSURED not acting in collusion
with an
Employee
learns of any dishonest act committed by such
Employee
at any time,
whether in the employment of the ASSURED or otherwise, whether or not such act is of the type covered
under this Bond, and whether against the ASSURED or any other person or entity, the ASSURED:
a.
shall immediately remove such
Employee
from a position that would enable such
Employee
to cause the ASSURED
to suffer a loss covered by this Bond; and
b.
within
forty-eight (48) hours of learning that an
Employee
has committed any dishonest act, shall notify the COMPANY,
of such action and provide full particulars of such dishonest act.
The
COMPANY may terminate coverage as respects any
Employee
sixty (60) days after written notice is received by each
ASSURED
Investment Company
and the Securities and Exchange Commission, Washington, D.C. of its desire to terminate
this Bond as to such
Employee
.
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14.
Coverage under this Bond shall apply only as excess over any valid and collectible insurance, indemnity or suretyship
obtained by or on behalf of:
a.
the ASSURED,
b.
a
Transportation Company
, or
c.
another entity on whose premises the loss occurred or which employed the person causing the loss or engaged the messenger
conveying the
Property
involved.
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Conformity
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15.
If any limitation within this Bond is prohibited by any law controlling this Bond's construction, such limitation shall be
deemed to be amended so as to equal the minimum period of limitation provided by such law.
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Change or Modification
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16.
This Bond or any instrument amending or affecting this Bond may not be changed or modified orally. No change in or modification
of this Bond shall be effective except when made by written endorsement to this Bond signed by an authorized representative
of the COMPANY.
If
this Bond is for a sole ASSURED, no change or modification which would adversely affect the rights of the ASSURED shall
be effective prior to sixty (60) days after written notice has been furnished to the Securities and Exchange Commission,
Washington, D.C., by the acting party
If
this Bond is for a joint ASSURED, no charge or modification which would adversely affect the rights of the ASSURED shall
be effective prior to sixty (60) days after written notice has been furnished to all insured
Investment Companies
and to the Securities and Exchange Commission, Washington, D.C., by the COMPANY.
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Important Notice:
The SEC Requires Proof of Your Fidelity Insurance Policy
Your company is now required to file an electronic
copy of your fidelity insurance coverage (Chubb’s ICAP Bond policy) to the Securities and Exchange Commission (SEC), according
to rules adopted by the SEC on June 12, 2006.
Chubb is in the process of providing your agent/broker with
an electronic copy of your insurance policy as well as instructions on how to submit this proof of fidelity insurance coverage
to the SEC. You can expect to receive this information from your agent/broker shortly.
The electronic copy of your
policy is provided by Chubb solely as a convenience and does not affect the terms and conditions of coverage as set forth in the
paper policy you receive by mail. The terms and conditions of the policy mailed to you, which are the same as those set forth in
the electronic copy, constitute the entire agreement between your company and Chubb.
If you have any questions, please contact your agent or
broker.
IMPORTANT NOTICE TO POLICYHOLDERS
All of the members of the Chubb Group
of Insurance companies doing business in the United States (hereinafter “Chubb”) distribute their products through
licensed insurance brokers and agents (“producers”). Detailed information regarding the types of compensation paid
by Chubb to producers on US insurance transactions is available under the Producer Compensation link located at the bottom of the
page at
www.chubb.com
, or by calling 1-866-588-9478. Additional information may be available
from your producer.
Thank you for choosing Chubb.
Policyholder Information Notice
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IMPORTANT NOTICE
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AVISO IMPORTANTE
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To obtain information or make a complaint:
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Para obtener información o para someter una
queja:
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You may call Chubb's toll-free telephone number for information or to make a complaint at
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Usted puede llamar al número de teléfono gratis de Chubb's para información o para someter una at queja al
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1-800-36-CHUBB
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1-800-36-CHUBB
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You may contact the Texas Department of Insurance to obtain the information on companies, coverages, rights or complaints at
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Puede comunicarse con el Departamento de Seguros de Texas
para obtener información acerca de compañias coberturas, derechos o
quejas al
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(512) 676-6000 or (800) 578-4677
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(512) 676-6000 or (800) 578-4677
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You may write the Texas Department of Insurance
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Puede escribir al Departamento de Seguros de Texas
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P.O. Box 149104
Austin TX 78714-9104
FAX # (512) 475-1771
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P.O. Box 149104
Austin TX 78714-9104
FAX # (512) 475-1771
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You may email the Texas Department of Insurance at:
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Puede correo electrónico Departamento de Seguros de Texas al:
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consumerprotection@tdi.texas.gov
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consumerprotection@tdi.texas.gov
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You may visit the Texas Department of Insurance’s website at:
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Puede visitar el Departamento de Seguros de Texas en el sitio web de:
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www.tdi.texas.gov
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www.tdi.texas.gov
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PREMIUM OR CLAIM DISPUTES
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DISPUTAS SOBRE PRIMAS O RECLAMOS:
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Should you have a dispute concerning your premium or about a claim you should contact the agent first. If the dispute is not resolved, you may contact the Texas Department of Insurance.
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Si tiene una disputa concerniente a su prima o a un reclamo, debe comunicarse con el agente primero. Si no se resueve la disputa, puede entonces comunicarse con el departamento (TDI).
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ATTACH THIS NOTICE TO YOUR POLICY:
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UNA ESTE AVISO A SU POLIZA:
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This notice is for information only and does not become a part or condition of the attached document.
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Este aviso es solo para proposito de información y no se convierte en parte o condicion del documento adjunto.
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POLICYHOLDER
DISCLOSURE NOTICE OF
TERRORISM INSURANCE COVERAGE
(for policies with no terrorism exclusion
or sublimit)
Insuring Company: FEDERAL INSURANCE
COMPANY
You are hereby notified
that, under the Terrorism Risk Insurance Act (the “Act”), this policy makes available to you insurance for losses arising
out of certain acts of terrorism. Terrorism is defined as any act certified by the Secretary of the Treasury of the United States,
to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property or infrastructure; to have resulted
in damage within the United States, or outside the United States in the case of an air carrier or vessel or the premises of a United
States Mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population
of the United States or to influence the policy or affect the conduct of the United States Government by coercion.
You should know that the insurance provided by
your policy for losses caused by acts of terrorism is partially reimbursed by the United States under the formula set forth in
the Act. Under this formula, the United States pays 85% of covered terrorism losses that exceed the statutorily established deductible
to be paid by the insurance company providing the coverage. Beginning in 2016, the Federal share will be reduced by 1% per year
until it reaches 80%, where it will remain.
However, if aggregate insured
losses attributable to terrorist acts certified under the Act exceed $100 billion in a calendar year, the Treasury shall not make
any payment for any portion of the amount of such losses that exceeds $100 billion.
If aggregate insured losses
attributable to terrorist acts certified under the Act exceed $100 billion in a calendar year and we have met our insurer deductible
under the Act, we shall not be liable for the payment of any portion of the amount of such losses that exceeds $100 billion, and
in such case insured losses up to that amount are subject to pro rata allocation in accordance with procedures established by the
Secretary of the Treasury.
The portion of your policy’s annual premium
that is attributable to insurance for such acts of terrorism is: $
-0-.
If you have any questions about this notice, please
contact your agent or broker.
ENDORSEMENT/RIDER
Effective date of
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this endorsement/rider: March 28, 2017
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FEDERAL INSURANCE COMPANY
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Endorsement/Rider No. 1
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To be attached to and
form a part of Bond No. 82050480
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Issued to: EQUUS TOTAL RETURN, INC.
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DELETING VALUATION-OTHER PROPERTY AND
AMENDING CHANGE OR MODIFICATION
ENDORSEMENT
In consideration of the premium charged, it is agreed
that this Bond is amended as follows:
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1.
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The paragraph titled Other Property in Section 9,
Valuation, is deleted in its entirety.
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2.
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The third paragraph
in Section 16, Change or Modification, is deleted in its entirety and replaced with the following:
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If this Bond is for a joint ASSURED,
no change or modification which would adversely affect the rights of the ASSURED shall be effective prior to sixty (60) days after
written notice has been furnished to all insured
Investment Companies
and the Securities and Exchange Commission, Washington,
D.C., by the COMPANY.
The title and any headings in this endorsement/rider
are solely for convenience and form no part of the terms and conditions of coverage.
All other terms, conditions and limitations of
this Bond shall remain unchanged.
Authorized Representative
ENDORSEMENT/RIDER
Effective date of
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this endorsement/rider: March 28, 2017
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FEDERAL INSURANCE COMPANY
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Endorsement/Rider No. 2
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To be attached to and
form a part of Bond No. 82050480
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Issued to: EQUUS TOTAL RETURN, INC.
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AUTOMATIC
INCREASE IN LIMITS ENDORSEMENT
In consideration of the premium
charged, it is agreed that GENERAL AGREEMENTS, Section C. Additional Offices Or Employees-Consolidation, Merger Or Purchase Or
Acquisition Of Assets Or Liabilities-Notice To Company, is amended by adding the following subsection:
Automatic Increase in Limits for Investment Companies
If an increase in bonding limits is required pursuant to
rule 17g-1 of the Investment Company Act of 1940 (“the Act”), due to:
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(i)
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the creation of a new
Investment Company
, other than by consolidation or merger with, or purchase or acquisition of assets or liabilities of,
another institution; or
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(ii)
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an increase in asset size of current
Investment
Companies
covered under this Bond,
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then the minimum required increase in limits shall
take place automatically without payment of additional premium for the remainder of the BOND PERIOD.
The title and any headings in this endorsement/rider are
solely for convenience and form no part of the terms and conditions of coverage.
All other terms, conditions and limitations of this
Bond shall remain unchanged.
Authorized Representative
ENDORSEMENT/RIDER
Effective date of
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this endorsement/rider: March 28, 2017
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FEDERAL INSURANCE COMPANY
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Endorsement/Rider No. 3
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To be attached to and
form a part of Bond No. 82050480
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Issued to: EQUUS TOTAL RETURN, INC.
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COMPLIANCE
WITH APPLICABLE TRADE SANCTION LAWS
It is agreed that this insurance does not apply to
the extent that trade or economic sanctions or other similar laws or regulations prohibit the coverage provided by this insurance.
The title and any headings in this endorsement/rider
are solely for convenience and form no part of the terms and conditions of coverage.
All other terms, conditions and limitations of this
Policy shall remain unchanged.
Authorized Representative
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FEDERAL INSURANCE COMPANY
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Endorsement No. 4
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Bond No. 82050480
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NAME OF ASSURED: EQUUS TOTAL RETURN, INC.
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TEXAS AMENDATORY ENDORSEMENT
It is agreed that this Bond is amended by adding an
additional paragraph to Section 13., Termination, as follows:
"The COMPANY may not terminate or refuse
to renew this Bond solely because the ASSURED is an elected official."
This Endorsement applies to loss discovered after
12:01 a.m. on March 28, 2017.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND
REMAIN UNCHANGED.
Date: March 9, 2017
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By
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Authorized Representative
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