40724 Ed.12-90 Printed in U.S.A. INSURED COPY Page 1
DELIVERY INVOICE
Company: St. Paul Fire & Marine Insurance Company
INSURED: JF CHINA REGION FUND, INC.
C/O JP MORGAN ASSET MANAGEMENT
245 PARK AVENUE
NEW YORK NY 10167
Policy Inception/Effective Date: 09/30/07
Agency Number: 3180284 FRANK CRYSTAL & COMPANY
Transaction Type: RENEWAL
Transaction number: 490BD0583
Processing date: 09/25/2007
Policy Number: 490BD0733
AGENT
FRANK CRYSTAL & COMPANY
32 OLD SLIP - FINANCIAL SQUARE
NEW YORK, NY 10005
Policy Description Amount Surtax/
Number Surcharge
490BD0733 FI - ICBB $3,700
The hard copy of the bond issued by the Underwriter will be referenced
in the event of a loss
40724 Ed.12-90 Printed in U.S.A. INSURED COPY Page 2
ND044 Rev. 8-05
2005 The St. Paul Travelers Companies, Inc. All Rights Reserved Page 1 of 1
IMPORTANT NOTICE REGARDING INDEPENDENT AGENT AND BROKER COMPENSATION
For information about how Travelers compensates independent agents and brokers,
please visit www.travelers.com, or you may request a written copy from
Marketing at One Tower Square, 2GSA, Hartford, CT 06183.
ND059 Ed. 11-06 -1-
2006 The St. Paul Travelers Companies, Inc. All Rights Reserved
HOW TO REPORT LOSSES, CLAIMS, OR POTENTIAL CLAIMS TO TRAVELERS
Reporting new losses, claims, or potential claims promptly can be critical.
It helps to resolve covered losses or claims as quickly as possible and often
reduces the overall cost.
Prompt reporting:
-better protects the interests of all parties;
-helps Travelers to try to resolve losses or claims more quickly; and
-often reduces the overall cost of a loss or claim - losses or claims
reported more than five days after they happen cost on average 35% more
than those reported earlier.
Report losses, claims, or potential claims to Travelers easily and quickly by
fax, U S mail, or email.
FAX
Use this number to report a loss, claim, or potential claim by fax toll
free.
1-888-460-6622
US MAIL
Use this address to report a loss, claim, or potential claim by U S Mail.
Bond-FPS Claims Department
Travelers
Mail Code NB08F
385 Washington Street
Saint Paul, Minnesota 55102
EMAIL
Use this address to report a loss, claim, or potential claim by email.
Pro.E&O.Claim.Reporting@SPT.com
This is a general description of how to report a loss, claim, or potential
claim under this policy or bond. This description does not replace or add to
the terms of this policy or bond. The policy or bond alone determines the
scope of coverage. Please read it carefully for complete information on
coverage. Contact your agent or broker if you have any questions about
coverage.
The hard copy of the bond issued by the Underwriter will be referenced in
the event of a loss
ICB001 Rev. 7/04
2004 The Travelers Companies, Inc. Page 1 of 2
INVESTMENT COMPANY BLANKET BOND
St. Paul Fire and Marine Insurance Company
St. Paul, Minnesota 55102-1396 (A Stock Insurance Company, herein called
Underwriter)
DECLARATIONS BOND NO. 490BD0733
Item 1.
Name of Insured (herein called Insured):
JF CHINA REGION FUND, INC.
Principal Address:
c/o JP Morgan Asset Management
245 Park Avenue
New York, NY 10167
Item 2. Bond Period from 12:01 a.m. on 09/30/07 to 12:01 a.m. on 09/30/2008 the
effective date of the termination or cancellation of the 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:
Limit of Deductible
Liability Amount
Insuring Agreement A - FIDELITY $525,000 $25,000
Insuring Agreement B - AUDIT
EXPENSE $50,000 $5,000
Insuring Agreement C - PREMISES $525,000 $25,000
Insuring Agreement D - TRANSIT $525,000 $25,000
Insuring Agreement E - FORGERY OR
ALTERATION $525,000 $25,000
Insuring Agreement F - SECURITIES $525,000 $25,000
Insuring Agreement G - COUNTERFEI
CURRENCY $525,000 $25,000
Insuring Agreement H - STOP PAYMENT $50,000 $5,000
Insuring Agreement I - UNCOLLECTIBLE
ITEMS OF DEPOSIT $50,000 $5,000
OPTIONAL COVERAGES ADDED BY RIDER:
Limit of Deductible
Liability Amount
(J) - COMPUTER SYSTEMS $525,000 $25,000
(K) - VOICE INITIATED TRANSACTIONS $525,000 $25,000
(L) - TELEFACIMILE SYSTEMS $525,000 $25,000
(M) - UNAUTHORIZED SIGNATURES $50,000 $5,000
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: N/A
The hard copy of the bond issued by the Underwriter will be referenced in the
event of a loss
ICB001 Rev. 7/04
2004 The Travelers Companies, Inc. Page 2 of 2
Item 5.
The liability of the Underwriter is subject to the terms of the following
endorsements or riders attached hereto: Endorsements or Riders No. 1
through
ICB001 Rev. 7/04, ICB011 Ed. 7-04, ICB012 Ed. 7-04, ICB013 Ed. 7-04,
ICB014 Ed. 7-04, ICB016 Ed. 7-04, ICB022 Ed. 7-04, ICB026 Ed. 7-04,
ICB057 Ed. 4-05
Item 6.
The Insured by the acceptance of this bond gives notice to the Underwriter
terminating or canceling prior bonds or policy(ies) No.(s) 490BD0583 such
termination or cancellation to be effective as of the time this bond becomes
effective.
IN WITNESS WHEREOF, the Company has caused this bond to be signed by its
President and Secretary and countersigned by a duly authorized representative
of the Company.
Countersigned:
ST. PAUL FIRE AND MARINE INSURANCE COMPANY
Authorized Representative Countersigned At
/s/Bruce Backberg,
Secretary
/s/Brian MacLean,
President
Countersignature Date
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 InsuringAgreements hereof to which an amount of insurance
is applicable as set forth in Item 3 of the Declarations and with respect to
loss sustained by the Insured at any time but discovered during the Bond
Period, to indemnify and hold harmless the Insured for:
INSURING AGREEMENTS
(A) FIDELITY
Loss resulting from any dishonest or fraudulent act(s), including Larceny or
Embezzlement, committed by an Employee, committed anywhere and whether
committed alone or in collusion with others, including loss of Property
resulting from such acts of an Employee, which Property is held by the Insured
for any purpose or in any capacity and whether so held gratuitously or not
and whether or not the Insured is liable therefor. Dishonest or fraudulent
act(s) as used in this Insuring Agreement shall mean only dishonest or
fraudulent act(s) committed by such Employee with the manifest intent:
(a) to cause the Insured to sustain such loss; and
(b) to obtain financial benefit for the Employee, or for any other Person
or organization intended by the Employee to receive such benefit, other than
salaries, commissions, fees, bonuses, promotions, awards, profit sharing,
pensions or other employee benefits earned in the normal course of employment.
(B) AUDIT EXPENSE
Expense incurred by the Insured for that part of the costs of audits or
examinations required by any governmental regulatory authority to be conducted
either by such authority or by an independent accountant by reason of the
discovery of loss sustained by the Insured through any dishonest or fraudulent
act(s), including Larceny or Embezzlement, of any of the Employees. The total
liability of the Underwriter for such expense by reason of such acts of any
Employee or in which such Employee is concerned or implicated or with respect
to any one audit or examination is limited to the amount stated opposite Audit
Expense in Item 3 of the Declarations; it being understood, however, that such
expense shall be deemed to be a loss sustained by the Insured through any
dishonest or fraudulent act(s), including Larceny or Embezzlement, of one or
more of the Employees, and the liability under this paragraph shall be in
addition to the Limit of Liability stated in Insuring Agreement (A) in Item 3
of the Declarations.
(C) ON PREMISES
Loss of Property (occurring with or without negligence or violence) through
robbery, burglary, Larceny, theft, holdup, or other fraudulent means,
misplacement, mysterious unexplainable disappearance, damage thereto or
destruction thereof, abstraction or removal from the possession, custody or
control of the Insured, and loss of subscription,conversion, redemption or
deposit privileges through the misplacement or loss of Property, while the
Property is (or is supposed or believed by the Insured to be) lodged or
deposited within any offices or premises located anywhere, except in an
office listed in Item 4 of the Declarations or amendment thereof or in the
mail or with a carrier for hire, other than an armored motor vehicle company,
for the purpose of transportation.
Office 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 hold-up 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 hold-up of, such office, or attempt thereat, or to
the interior of any such office by vandalism or malicious mischief provided,
in any event, that the Insured is the owner of such offices, furnishings,
fixtures, stationery, supplies or equipment or is legally liable for such
loss or damage always excepting, however, all loss or damage through fire.
(D) IN TRANSIT
Loss of Property (occurring with or without negligence or violence) through
robbery, Larceny, theft, hold-up, 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 0R ALTERATION
Loss through Forgery or alteration of or on:
(1) 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; or
(2) other written instructions, advices or applications directed to the
Insured, authorizing or acknowledging the transfer, payment, delivery or
receipt of funds or Property, which instructions, advices or applications
purport to have been signed or endorsed by any:
(a) customer of the Insured, or
(b) shareholder or subscriber to shares, whether certificated or
uncertificated, of any Investment Company, or
(c) 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, or financial
or banking institution or stockbroker; or
(3) withdrawal orders or receipts for the withdrawal of funds or Property, or
receipts or certificates of deposit for Property and bearing the name of the
Insured as issuer, or of another Investment Company for which the Insured
acts as agent, excluding, however, any loss covered under Insuring Agreement
(F) hereof whether or not coverage for Insuring Agreement (F) is provided
for in the Declarations of this bond. Any check or draft (a) made payable
to a fictitious payee and endorsed in the name of such fictitious payee or
(b) procured in a transaction with the maker or drawer thereof or with one
acting as an agent of such maker or drawer or anyone impersonating another
and made or drawn payable to the one so impersonated and endorsed by anyone
other than the one impersonated, shall be deemed to be forged as to such
endorsement. Mechanically reproduced facsimile signatures are treated the
same as handwritten signatures.
(F) SECURITIES
Loss sustained by the Insured, including loss sustained by reason of a
violation of the constitution by-laws, rules or regulations of any Self
Regulatory Organization of which the Insured is a member or which would
have been imposed upon the Insured by the constitution, by-laws, rules or
regulations of any Self Regulatory Organization if the Insured had been a
member thereof,
(1) through the Insured's having, in good faith and in the course of business,
whether for its own account or for the account of others, in any
representative, fiduciary, agency or any other capacity, either gratuitously
or otherwise, purchased or otherwise acquired, accepted or received, or sold
or delivered, or given any value, extended any credit or assumed any liability,
on the faith of, or otherwise acted upon, any securities, documents or other
written instruments which prove to have been:
(a) counterfeited, or
(b) forged as to the signature of any maker, drawer, issuer, endorser,
assignor, lessee, transfer agent or registrar, acceptor, surety or guarantor
or as to the signature of any person signing in any other capacity, or
(c) raised or otherwise altered, or lost, or stolen, or
(2) through the Insured's having, in good faith and in the course of business,
guaranteed in writing or witnessed any signatures whether for valuable
consideration or not and whether or not such guaranteeing or witnessing is
ultra vires the Insured, upon any transfers, assignments, bills of sale,
powers of attorney, guarantees, endorsements or other obligations upon or in
connection with any securities, documents or other written instruments and
which pass or purport to pass title to such securities, documents or other
written instruments; excluding losses caused by Forgery or alteration of,
on or in those instruments covered under Insuring Agreement (E) hereof.
Securities, documents or other written instruments shall be deemed to mean
original (including original counterparts) negotiable or non-negotiable
agreements which in and of themselves represent an equitable interest,
ownership, or debt, including an assignment thereof, which instruments are,
in the ordinary course of business, transferable by
delivery of such agreements with any necessary endorsement or assignment.
The word "counterfeited" as used in this Insuring Agreement shall be deemed
to mean any security, document or other written instrument which is intended
to deceive and to be taken for an original. Mechanically reproduced facsimile
signatures are treated the same as handwritten signatures.
(G) COUNTERFEIT CURRENCY
Loss through the receipt by the Insured, in good faith, of any counterfeited
money orders or altered paper currencies or coin of the United States of
America or Canada issued or purporting to have been issued by the United
States of America or Canada or issued pursuant to a United States of America
or Canada statute for use as currency.
(H) STOP PAYMENT
Loss against any and all sums which the Insured shall become obligated to pay
by reason of the liability imposed upon the Insured by law for damages:
For having either complied with or failed to comply with any written notice
of any customer, shareholder or subscriber of the Insured or any Authorized
Representative of such customer, shareholder or subscriber to stop payment of
any check or draft made or drawn by such customer, shareholder or subscriber
or any Authorized Representative of such customer, shareholder or subscriber,
or For having refused to pay any check or draft made or drawn by any customer,
shareholder or subscriber of the Insured or any Authorized Representative of
such customer, shareholder or subscriber.
(I) UNCOLLECTIBLE ITEMS OF DEPOSIT
Loss resulting from payments of dividends or fund shares, or withdrawals
permitted from any customer's, shareholder's, or subscriber's account based
upon Uncollectible Items of Deposit of a customer, shareholder or subscriber
credited by the Insured or the Insured's agent to such customer's,
shareholder's or subscriber's Mutual Fund Account; or loss resulting from
an 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 the Underwriter for
Uncollectible Items of Deposit. Regardless of the number of transactions
between Fund(s), the minimum number of days of deposit within the Fund(s)
before withdrawal as declared in the Fund(s) prospectus shall begin from the
date a deposit was first credited to any Insured Fund(s).
GENERAL AGREEMENTS
A. ADDITIONAL OFFICES OR EMPLOYEES CONSOLIDATION OR MERGER - NOTICE
(1) If the Insured shall, while this bond is in force, establish any
additional office or offices, such offices shall be automatically covered
hereunder from the dates of their establishment, respectively. No notice
to the Underwriter of an increase during any premium period in the number
of offices or in the number of Employees at any of the offices covered
hereunder need be given and no additional premium need be paid
for the remainder of such premium period.
(2) If an Investment Company, named as Insured herein, shall, while this bond
is in force, merge or consolidate with, or purchase the assets of another
institution, coverage for such acquisition shall apply automatically
from the date of acquisition. The Insured shall notify the Underwriter of such
acquisition within 60 days of said date, and an additional premium shall be
computed only if such acquisition involves additional offices or employees.
B. WARRANTY
No statement made by or on behalf of the Insured, whether contained in the
application or otherwise, shall be deemed to be a warranty of anything except
that it is true to the best of the knowledge and belief of the person making
the statement.
C. COURT COSTS AND ATTORNEYS' FEES
(Applicable to all Insuring Agreements or Coverages now or hereafter forming
part of this bond) The Underwriter will indemnify the Insured against court
costs and reasonable attorneys' fees incurred and paid by the Insured in
defense, whether or not successful, whether or not fully litigated on the
merits and whether or not settled, of any suit or legal proceeding brought
against the Insured to enforce the Insured's liability or alleged liability
on account of any loss, claim or damage which, if established against the
Insured, would constitute a loss sustained by the Insured covered under the
terms of this bond provided, however, that with respect to Insuring Agreement
(A) this indemnity shall apply only in the event that:
(1) an Employee admits to being guilty of any dishonest or fraudulent act(s),
including Larceny or Embezzlement; or
(2) an Employee is adjudicated to be guilty of any dishonest or fraudulent
act(s), including Larceny or Embezzlement;
(3) in the absence of (1) or (2) above an arbitration panel agrees, after a
review of an agreed statement of facts, that an Employee would be found guilty
of dishonesty if such Employee were prosecuted.
The Insured shall promptly give notice to the Underwriter of any such suit or
legal proceedings 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 proportionof court costs and
attorneys' fees incurred and paid by the Insured or by the Underwriter
that the amount recoverable under this bond bears to the total of such amount
plus the amount which is not so recoverable. Such indemnity shall be in
addition to the Limit of Liability for the applicable Insuring Agreement or
Coverage.
D. FORMER EMPLOYEE
Acts of an Employee, as defined in this bond, are covered under Insuring
Agreement (A) only while the Employee is in the Insured's employ. Should loss
involving a former Employee of the Insured be discovered subsequent to the
termination of employment, coverage would still apply under Insuring Agreement
(A) if the direct proximate cause of the loss occurred while the former
Employee performed duties within the scope of his/her employment.
THE FOREGOING INSURING AGREEMENTS AND GENERAL AGREEMENTS ARE SUBJECT TO
THE FOLLOWING CONDITIONS AND LIMITATIONS:
SECTION 1. DEFINITIONS
The following terms, as used in this bond have the respective meanings
stated in this Section:
(a) "Employee" means:
(1) any of the Insured's officers, partners, or and
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 employees of such
attorneys are performing such services for the Insured, and
(4) guest students pursuing their studies or duties in any of the Insured's
offices, and
(5) directors or trustees of the Insured, the investment advisor, underwriter
(distributor), transfer agent, or shareholder accounting record keeper, or
administrator authorized by written agreement to keep financial and/or other
required records, but only while performing acts coming within the scope of
the usual duties of an officer or employee or while acting as a member of any
committee duly elected or appointed to examine or audit or have custody of or
access to the Property of the Insured, and
(6) any individual or individuals assigned to perform the usual duties of an
employee within the premises of the Insured, by contract, or by any agency
furnishing temporary personnel on a contingent or part-time basis, and
(7) each natural person, partnership or corporation authorized by written
agreement with the Insured to perform services as electronic data processor
of checks or other accounting records of the Insured, but excluding any such
processor who acts as transfer agent or in any other agency capacity in
issuing checks, drafts or securities for the Insured, unless included under
sub-section (9) hereof, and
(8) those persons so designated in Section 15, Central Handling of Securities,
and
(9) any officer, partner, or Employee of:
(a) an investment advisor,
(b) an underwriter (distributor),
(c) a transfer agent or shareholder accounting record-keeper, or
(d) an administrator authorized by written agreement to keep financial
and/or other required records, for an Investment Company named as Insured
while performing acts coming within the scope of the usual duties of an
officer or Employee of any investment Company named as Insured herein,
or while acting as a member of any committee duly elected or appointed to
examine or audit or have custody of or access to the Property of any such
Investment Company, provided that only Employees or partners of a transfer
agent, shareholder accounting record-keeper or administrator which is an
affiliated person, as defined in the Investment Company Act of 1940, of an
Investment Company named as Insured or is an affiliated person of theadvisor,
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 (7)
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 Section 13. Brokers, or other agents under
contract or representatives of the same general character shall not be
considered Employees.
(b) "Property" means money (i.e. currency, coin,
bank notes, Federal Reserve notes), postage and revenue stamps, U.S.
Savings Stamps, bullion, precious metals of all kinds and in any form and
articles made therefrom, jewelry, watches, necklaces, bracelets, gems,
precious and semi-precious stones, bonds, securities, evidences of debts,
debentures, scrip, certificates, interim receipts, warrants, rights, puts,
calls, straddles, spreads, transfers, coupons, drafts, bills of exchange,
acceptances, notes, checks, withdrawal orders, money orders, warehouse
receipts, bills of lading, conditional sales contracts, abstracts of title,
insurance policies, deeds, mortgages under real estate and/or chattels
and upon interests therein, and assignments of such policies, mortgages
and instruments, and other valuable papers, including books of account
and other records used by the Insured in the conduct of its business,
and all other instruments similar to or in the nature of the foregoing
including Electronic Representations of such instruments enumerated above
(but excluding all data processing records) in which the Insured has an
interest or in which the Insured acquired or should have acquired an
interest by reason of a predecessor's declared financial condition at
the time of the Insured's consolidation or merger with, or purchase of
the principal assets of, such predecessor or which are held by the Insured
for any purpose or in any capacity and whether so held 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
notinclude the signing of one's own name with or without authority, in any
capacity, for any purpose.
(d) "Larceny and Embezzlement" as it applies to any named Insured means
those acts as set forth in Section 37 of the Investment Company Act of 1940.
(e) "Items of Deposit" means any one or more checks and drafts. Items of
Deposit shall not be
deemed uncollectible until the Insured's collection procedures have failed.
SECTION 2. EXCLUSIONS THIS BOND, DOES NOT COVER:
(a) loss effected directly or indirectly by means of forgery or alteration
of, on or in any instrument, except when covered by Insuring Agreement
(A), (E), (F) or (G).
(b) loss due to riot or civil commotion outside the United States of America
and Canada; or loss due to military, naval or usurped power, war or
insurrection unless such loss occurs in transit in the circumstances recited
in Insuring Agreement (D), and unless, when such transit was initiated, there
was no knowledge of such riot, civil commotion, military, naval or usurped
power, war or insurrection on the part of any person acting for the Insured
in initiating such transit.
(c) loss, in time of peace or war, directly or indirectly caused by or
resulting from the effects of nuclear fission or fusion or radioactivity;
provided, however, that this paragraph shall not apply to loss resulting
from industrial uses of nuclear energy.
(d) loss resulting from any wrongful act or acts of any person who is a
member of the Board of Directors of the Insured or a member of any equivalent
body by whatsoever name known unless such person is also an Employee or an
elected official, partial owner or partner of the Insured in some other
capacity, nor, in any event, loss resulting from the act or acts of any
person while acting in the capacity of a member of such Board or equivalent
body.
(e) loss resulting from the complete or partial non-payment of, or
default upon, any loan or transaction in the nature of, or amounting
to, a loan made by or obtained from the Insured or any of its partners,
directors or Employees, whether authorized or unauthorized and whether
procured in good faith or through trick, artifice fraud or false
pretenses, unless such loss is covered under Insuring Agreement (A),
(E) or (F).
(f) loss resulting from any violation by the Insured or by any Employee:
(1) of law regulating (a) the issuance, purchase or sale of securities,
(b) securities transactions upon Security Exchanges or over the counter
market, (c) Investment Companies, or (d) Investment Advisors, or
(2) of any rule or regulation made pursuant to any such law.
unless such loss, in the absence of such laws, rules or regulations,
would be covered under Insuring Agreements (A) or (E).
(g) loss of Property or loss of privileges through the misplacement
or loss of Property as set forth in Insuring Agreement (C) or (D)
while the Property is in the custody of any armored motor vehicle
company, unless such loss shall be in excess of the amount recovered
or received by the Insured under (a) the Insured's contract with said
armored motor vehicle company, (b) insurance carried by said armored
motor vehicle company for the benefit of users of its service, and
(c) all other insurance and indemnity in force in whatsoever form
carried by or for the benefit of users of said armored motor vehicle
company's service, and then this bond shall cover only such excess.
(h) potential income, including but not limited to interest and dividends,
not realized by the Insured because of a loss covered under this bond,
except as included under Insuring Agreement (I).
(i) all damages of any type for which the Insured is legally liable,
except direct compensatory damages arising from a loss covered under
this bond.
(j) loss through the surrender of Property away from an office of
the Insured as a result of a threat:
(1) to do bodily harm to any person, except loss of Property in transit
in the custody of any person acting as messenger provided that when such
transit was initiated there was no knowledge by the Insured of any such
threat, or
(2) to do damage to the premises or Property of the Insured, except when
covered under Insuring Agreement (A).
(k) all costs, fees and other expenses incurred by the Insured in
establishing the existence of or amount of loss covered under this bond
unless such indemnity is provided for under Insuring Agreement (B).
(l) loss resulting from payments made or withdrawals from the account of
a customer of the Insured, shareholder or subscriber to shares involving
funds erroneously credited to such account, unless such payments are made
to or withdrawn by such depositors or representative of such person, who
is within the premises of the drawee bank of the Insured or within the
office of the Insured at the time of such payment or withdrawal or unless
such payment is covered under Insuring Agreement (A).
(m) any loss resulting from Uncollectible Items of Deposit which are drawn
from a financial institution outside the fifty states of the
United States of America, District of Columbia, and territories and
possessions of the United States of America, and Canada.
SECTION 3. ASSIGNMENT OF RIGHTS
This bond does not afford coverage in favor of any Employers of temporary
personnel or of processors as set forth in sub-sections (6) and (7) of
Section 1(a) of this bond, as aforesaid, and upon payment to the Insured
by the Underwriter on account of any loss through dishonest or fraudulent
act(s) including Larceny or Embezzlement committed by any of the partners,
officers or employees of such Employers, whether acting alone or in
collusion with others, an assignment of such of the Insured's rights and
causes of action as it may have against such Employers by reason of
such acts so committed shall, to the extent of such payment, be given
by the Insured to the Underwriter, and the Insured shall execute all
papers necessary to secure to the Underwriter the rights herein provided
for.
SECTION 4. LOSS -NOTICE -PROOF LEGAL PROCEEDINGS
This bond is for the use and benefit only of the Insured named in the
Declarations and the Underwriter shall not be liable hereunder for
loss sustained by anyone other than the Insured unless the Insured,
in its sole discretion and at its option, shall include such loss in
the Insured's proof of loss. At the earliest practicable moment after
discovery of any loss hereunder the Insured shall give the Underwriter
written notice thereof and shall also within six months after suchdiscovery
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 suchproof 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 proceedings
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 circumstances,
which would cause a reasonable person to assume that a loss covered by the
bond has been or will be incurred even though the exact amount or details
of loss may not be then known.
SECTION 5. VALUATION OF PROPERTY
The value of any Property, except books of accounts or other records
used by the Insured in the conduct of its business, for the loss of
which a claim shall be made hereunder, shall be determined by the
average market value of such Property on the business day next preceding
the discovery of such loss; provided, however, that the value of any
Property replaced by the Insured prior to the payment of claim therefor
shall be the actual market value at the time of replacement; and further
provided that in case of a loss or misplacement of interim certificates,
warrants, rights, or other securities, the production of 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, he 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 notbe liable for more than the
actual cash value thereof, or for more than the actual cost of their
replacement or repair. The Underwriter may, at its election, pay such
actual cash value or make such replacement or repair. If the underwriter
and the Insured cannot agree upon such cash value or such cost of
replacement or repair, such shall be determined by arbitration.
SECTION 7. LOST SECURITIES
If the Insured shall sustain a loss of securities the total value
of which is in excess of the limit stated in Item 3 of the Declarations
of this bond, the liability of the Underwriter shall be limited to
payment for, or duplication of, securities having value equal to the
limit stated in Item 3 of the Declarations of this bond. If the Underwriter
shall make payment to the Insured for any loss of securities, the
Insured shall thereupon assign to the Underwriter all of the Insured's
rights, title and interest 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
therefore a proportion of the usual premium charged therefor, said
proportion being equal to the percentage that the Deductible Amount bears
to the value of the securities upon discovery of the loss, and that
it will indemnify the issuer of said Lost Instrument Bond or Bonds against
all loss and expense that is not recoverable from the Underwriter under
the terms and conditions of this Investment Company Blanket Bond subject
to the Limit of Liability hereunder.
SECTION 8. SALVAGE
in case of recovery, whether made by the Insured or by the Underwriter,
on account of any loss in excess of the Limit of Liability hereunder
plus the Deductible Amount applicable to such loss, from any source other
than suretyship, insurance, reinsurance, security or indemnity taken
by or for the benefit of the Underwriter, the net amount of such recovery,
less the actual costs and expenses of making same, shall be applied to
reimburse the Insured in full for the excess portion of such loss, and
the remainder, if any, shall be paid first in reimbursement of the
Underwriter and thereafter in reimbursement of the Insured for that
part of such loss within the Deductible Amount. The Insured shall
execute all necessary papers to secure to the Underwriter the rights
provided for herein.
SECTION 9. NON-REDUCTION AND NONACCUMULATION 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 or 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 other
person resulting in damage to or destruction or misplacement of
Property, shall be deemed to be one loss, or
(c) all wrongful acts, other than those specified in (a) above, of
any one person shall be deemed to be one loss, or
(d) all wrongful acts, other than those specified in (a) above, of
one or more persons (which dishonest act(s) or act(s) of Larceny or
Embezzlement include, but are not limited to, the failure of an
Employee to report such acts of others) whose dishonest act or acts
intentionally or unintentionally, knowingly or unknowingly, directly
or indirectly, aid or aids in any way, or permits the continuation
of, the dishonest act or acts of any other person or persons shall
be deemed to be one loss with the act or acts of the persons aided, or
(e) any one casualty or event other than those specified in (a), (b),
(c) or (d) preceding, shall be deemed to be one loss, and
shall be limited to the applicable Limit of Liability stated in
Item 3 of the Declarations of this bond irrespective of the total
amount of such loss or losses and shall not be cumulative in amounts
from year to year or from period to period.
Sub-section (c) is not applicable to any situation
to which the language of sub-section (d) applies.
SECTION 10. LIMIT OF LIABILITY
With respect to any loss set forth in the PROVIDED clause of Section
9 of this bond which is recoverable or recovered in whole or in part
under any other bonds or policies issued by the Underwriter to the
Insured or to any predecessor in interest of the Insured and terminated
or cancelled or allowed to expire and in which the period of 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 olicies, 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 priorto payment
by the Underwriter of such loss, shall exceed the Deductible Amount
set forth in Item 3 of the Declarations hereof (herein called Deductible
Amount), and then for such excess only, but in no event for more than
the applicable Limit of Liability stated in Item 3 of the Declarations.
The Insured will bear, in addition to the Deductible Amount, premiums
on Lost Instrument Bonds as set forth in Section 7. There shall be no
deductible applicable to any loss under Insuring Agreement A sustained
by any Investment Company named as Insured herein.
SECTION 13. TERMINATION
The Underwriter may terminate this bond as an entirety by furnishing
written notice specifying the termination date, which cannot be prior
to 60 days after the receipt of such written notice by each Investment
Company named as Insured and the Securities and Exchange Commission,
Washington, D.C. The Insured may terminate this bond as an entirety by
furnishing written notice to the Underwriter. When the Insured cancels,
the Insured shall furnish written notice to the Securities and
Exchange Commission, Washington, D.C., prior to 60 days before the
effective date of the termination. The Underwriter shall notify all
other Investment Companies named as Insured of the receipt of such
termination notice and the termination cannot be effective prior to 60
days after receipt of written notice by all other Investment Companies.
Premiums are earned until the termination date as set forth herein.
This Bond will terminate as to any one Insured immediately upon taking
over of such Insured by receiver or other liquidator or byState or
Federal officials, or immediately upon the filing of a petition under
any State or Federal statute relative to bankruptcy or reorganization
of the Insured, or assignment for the benefit of creditors of the
Insured, or immediately upon such Insured ceasing to exist, whether
through merger into another entity, or by disposition of all of its
assets. The Underwriter shall refund the unearned premium computed
at short rates in accordance with the standard short rate cancellation
tables if terminated by the Insured or pro rata if terminated for
any other reason. This Bond shall terminate:
(a) as to any Employee as soon as any partner, officer or supervisory
Employee of the Insured, who is not in collusion with such Employee,
shall learn of any dishonest or fraudulent act(s), including Larceny
or Embezzlement on the part of such Employee without prejudice to the
loss of any Property then in transit in the custody of such Employee
(see Section 16(d)), or
(b) as to any Employee 60 days after receipt by each Insured and by
the Securities and ExchangeCommission 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 Underwrite, the
Insured may give 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, orby any receiver or liquidator, acting or
appointed for this purpose without the necessity of the Underwriter
giving notice of such termination. In the event that such additional
period of time is terminated, as provided above, the Underwriter
shall refund any unearned premium. The right to purchase such
additional period for the discovery of loss may not be exercised
by any State or Federal official or agency, or by a receiver or
liquidator, acting or appointed to take over the Insured's business
for the operation or for the liquidation thereof or for any purpose.
SECTION 15. CENTRAL HANDLING OF SECURITIES
Securities included in the system 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 effected 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, 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 or 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 the said Exchanges
or Corporations on a contract basis.
The Underwriter shall not be liable on account of any loss(es) in
connection with the central handling of securities within the systems
established and maintained by such Corporations, unless such loss(es)
shall be in excess of the amount(s) recoverable or recovered under
any bond or policy of insurance indemnifying such Corporations against
such loss(es), and then the Underwriter shall be liable hereunder only
for the Insured's share of such excess loss(es), but in no event for
more than the Limit of Liability applicable hereunder. For the purpose
of determining the Insured's share of excess loss(es) it shall be
deemed that the Insured has an interest in any certificate representing
any security included within such systems equivalent to the interest
the Insured then has in all certificates representing the same security
included within such systems and that such Corporations shall use their
best judgment in apportioning the amount(s)recoverable or recovered
under any bond or policy of insurance indemnifying such Corporations
against such loss(es) in connection with the central handlingof
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 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 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 or which the Underwriter would be liable hereunder if all
such loss were sustained by any one of them;
(b) the one first named herein shall be deemed authorized to make,
adjust and receive and enforce payment of all claims hereunder and
shall be deemed to be the agent of the others for such purposes and
for the giving or receiving of any notice required or permitted to
be given by the terms hereof, provided that the Underwriter shall
furnish each named Investment Company with a copy of the bond and
with any amendment thereto, together with a copy of each formal
filing of the settlement of each such claim prior to the execution
of such settlement;
(c) the Underwriter shall not be responsible for the proper application
of any payment made hereunder to said first named Insured;
(d) knowledge possessed or discovery made by any partner, officer of
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 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. Failing
to give the required notice shall result in termination of coverage
of this bond, effective upon the date of stock transfer for any
loss in which any transferee is concerned or implicated. Such notice
is not required to be given in the case of an Insured which is
an Investment Company.
SECTION 18. CHANGE OR MODIFICATION
This bond or any instrument amending or effecting same may not
be changed or modified orally. No changes in or modification
thereof shall be effective unless made by written endorsement
issued to form a part hereof over the signature of the Underwriter's
Authorized Representative. When a bond covers only one Investment
Company no change or modification which would adversely affect the
rights of the Investment Company shall be effective prior to 60 days
after written notification has been furnished to the Securities and
Exchange Commission, Washington, D.C., by the Insured or by the
Underwriter. If more than one Investment Company is named as the
Insured herein, the Underwriter shall give written notice to each
Investment Company and to the Securities and Exchange Commission,
Washington, D.C., not less than 60 days prior to the effective date
of any change or modification which would adversely affect the rights
of such Investment Company.
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider and the Bond or Policy have the
same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO.490BD073
DATE ENDORSEMENT OR RIDER EXECUTED 09/27/07
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY 09/30/07
* ISSUED TO JF CHINA REGION FUND, INC.
Computer Systems
It is agreed that:
1. The attached bond is amended by adding an additional Insuring
Agreement as follows:
INSURING AGREEMENT J COMPUTER SYSTEMS
Loss resulting directly from a fraudulent
(1) entry of data into, or
(2) change of data elements or program within a Computer System listed
in the SCHEDULE below, provided the fraudulent entry or change causes
(a) Property to be transferred, paid or delivered,
(b) an account of the Insured, or of its customer, to be added, deleted,
debited or credited, or
(c) an unauthorized account or a fictitious account to be debited or
credited, and provided further, the fraudulent entry or change is
made or caused by an individual acting with the manifest intent to
(i) cause the Insured to sustain a loss, and
(ii) obtain financial benefit for that individual or for other persons
intended by that individual to receive financial benefit.
SCHEDULE
All systems utilized by the Insured
2. As used in this Rider, Computer System means
(a) computers with related peripheral components, including storage
components, wherever located,
(b) systems and applications software,
(c) terminal devices, and
(d) related communication networks
by which data are electronically collected, transmitted, processed,
stored and retrieved.
3. In addition to the exclusions in the attached bond, the
following exclusions are applicable to this Insuring Agreement:
(a) loss resulting directly or indirectly from the theft of confidential
information, material or data; and
(b) loss resulting directly or indirectly from entries or changes made
by an individual authorized to have access to a Computer System who
acts in good faith on instructions, unless such instructions are given
to that individual by a software contractor (or by a partner, officer or
employee thereof) authorized by the Insured to design, develop, prepare,
supply, service, write or implement programs for the Insured's Computer
System.
4. The following portions of the attached bond are not applicable to this
Rider:
(a) the portion preceding the Insuring Agreements which reads "at any
time but discovered during the Bond Period";
(b) Section 9 NONREDUCTION AND NON-ACCUMULATION OF LIABILITY of the
Conditions and Limitations; and
(c) Section 10 LIMIT OF LIABILITY of the Conditions and Limitations.
5. The coverage afforded by this Rider applies only to loss discovered by
the Insured during the period this Rider is in force.
6. All loss or series of losses involving the fraudulent activity of one
individual, or involving fraudulent activity, in which one individual is
implicated, whether or not that individual is specifically identified, shall
be treated as one loss.A series of losses involving unidentified individuals
but arising from the same method of operation may be deemed by the
Underwriter to involve the same individual and in that event shall be
treated as one loss.
7. The Limit of Liability for the coverage provided by this Rider shall be
Five Hundred Twenty Five Thousand Dollars ($525,000 ), it being understood,
however, that such liability shall be a part of and not in addition to the
Limit of Liability stated in Item 3 of the Declarations of the attached
bond or any amendment thereof.
8. The Underwriter shall be liable hereunder for the amount by which one
loss exceeds the Deductible Amount applicable to the attached bond, but not
in excess of the Limit of Liability stated above.
9. If any loss is covered under this Insuring Agreement and any other
Insuring Agreement or Coverage, the maximum amount payable for such loss
shall not exceed the largest amount available under any one Insuring Agreement
or Coverage.
10. Coverage under this Rider shall terminate upon termination or
cancellation of the bond to which this Rider is attached. Coverage under
this Rider may also be terminated or canceled without canceling the bond
as an entirety (a) 60 days after receipt by the Insured of written notice
from the Underwriter of its desire to terminate or cancel coverage under
this Rider, or (b) immediately upon receipt by the Underwriter of a written
request from the Insured to terminate or cancel coverage under this Rider.
The Underwriter shall refund to the Insured the unearned premium for the
coverage under this Rider. The refund shall be computed at short rates if
this Rider be terminated or canceled or reduced by notice from, or at the
instance of, the Insured. Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, conditions, provisions, agreements
or limitations of the above mentioned Bond or Policy, other than as above
stated.
By
Authorized Representative
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO.490BD0733
DATE ENDORSEMENT OR RIDER EXECUTED 09/27/07
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY 09/30/07
* ISSUED TO JF CHINA REGION FUND, INC.
Unauthorized Signatures
It is agreed that:
1. The attached bond is amended by inserting an additional Insuring
Agreement as follows:
INSURING AGREEMENT M UNAUTHORIZED SIGNATURE
(A) Loss resulting directly from the Insured having accepted, paid or
cashed any check or withdrawal order, draft, 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 the application on file with the
Insured as a signatory on such account.
(B) It shall be a condition precedent to the Insured's right of recovery
under this Rider that the Insured shall have on file signatures of all
persons who are authorized signatories on such account.
2. The total liability of the Underwriter under Insuring Agreement M is
limited to the sum of Fifty Thousand Dollars ($50,000 ), it being
understood, however, that such liability shall be part of and not in
addition to the Limit of Liability stated in Item 3 of the Declarations
of the attached bond or amendment thereof.
3. With respect to coverage afforded under this Rider, the Deductible
Amount shall be Five Thousand Dollars ($5,000 ).Nothing herein contained
shall be held to vary, alter, waive, or extend any of the terms, conditions,
provisions, agreements or limitations of the above mentioned Bond or Policy,
other than as above stated.
By
Authorized Representative
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO.490BD0733
DATE ENDORSEMENT OR RIDER EXECUTED 09/27/07
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY 09/30/07
* ISSUED TO JF CHINA REGION FUND, INC.
Telefacsimile Transactions
It is agreed that:
1. The attached Bond is amended by adding an additional Insuring Agreement
as follows:
INSURING AGREEMENT L TELEFACSIMILE TRANSACTIONS
Loss caused by a Telefacsimile Transaction, where the request for such
Telefacsimile Transaction is unauthorized or fraudulent and is made
with the manifest intent to deceive; provided, that the entity which
receives such request generally maintains and follows during the Bond
Period all Designated Fax Procedures with respect to Telefacsimile
Transactions. The isolated failure of such entity to maintain and
follow a particular Designated Fax Procedure in a particular instance
will not preclude coverage under this Insuring Agreement, subject to
the exclusions herein and in the Bond.
2. Definitions. The following terms used in this Insuring Agreement
shall have the following meanings:
a. "Telefacsimile System" means a system of transmitting and reproducing
fixed graphic material (as, for example, printing) by means of signals
transmitted over telephone lines.
b. "Telefacsimile Transaction" means any Fax Redemption, Fax Election,
Fax Exchange, or Fax Purchase.
c. "Fax Redemption" means any redemption of shares issued by an Investment
Company which is requested through a Telefacsimile System. d. "Fax Election"
means any election concerning dividend options available to Fund
shareholders which is requested through a Telefacsimile System.
e. "Fax Exchange" means any exchange of shares in a registered account of
one Fund into shares in an identically registered account of another Fund
in the same complex pursuant to exchange privileges of the two Funds,
which exchange is requested through a Telefacsimile System.
f. "Fax Purchase" means any purchase of shares issued by an Investment
Company which is requested through a Telefacsimile System.
g. "Designated Fax Procedures" means the following procedures: (1) Retention:
All Telefacsimile Transaction requests shall be retained for at least six
(6) months. Requests shall be capable of being retrieved and produced in
legible form within a reasonable time after retrieval is requested. (2)
Identity Test: The identity of the sender in any request for aTelefacsimile
Transaction shall be tested before executing that Telefacsimile Transaction,
either by requiring the sender to include on the face of the request a
unique identification number or to include key specific account information.
Requests of Dealers must be on company letterhead and be signed by an
authorized representative. Transactions by occasional users are to be
verified by telephone confirmation. (3) Contents: A Telefacsimile Transaction
shall not be executed unless the request for such Telefacsimile Transaction
is dated and purports to have been signed by (a) any shareholder or
subscriber to shares issued by a Fund, or (b) any financial or banking
institution or stockbroker. (4) Written Confirmation: A written
confirmation of each Telefacsimile Transaction shall be sent to the
shareholder(s) to whose account such Telefacsimile Transaction relates,
at the record address, by the end of the Insured's next regular
processing cycle, but no later thanfive (5) business days following
such Telefacsimile Transaction.
i. "Designated" means or refers to a written designation signed by a
shareholder of record of a Fund, either in such shareholder's initial
application for the purchase of Fund shares, with or without a Signature
Guarantee, or in another document with a Signature Guarantee.
j. "Signature Guarantee" means a written guarantee of a signature,
which guarantee is made by an Eligible Guarantor Institution as
defined in Rule 17Ad-15(a)(2) under the Securities Exchange Act of 1934.
3. Exclusions. It is further understood and agreed that this Insuring
Agreement shall not cover:
a. Any loss covered under Insuring Agreement A, "Fidelity," of this
Bond; and
b. Any loss resulting from: (1) Any Fax Redemption, where the proceeds
of such redemption were requested to be paid or made payable to other
than (a) the shareholder of record, or (b) a person Designated in the
initial application or in writing at least one (1) day prior to such
redemption to receive redemption proceeds, or (c) a bank account
Designated in the initial application or in writing at least one (1)
day prior to such redemption to receive redemption proceeds; or (2)
Any Fax Redemption of Fund shares which had been improperly credited
to a shareholder's account, where such shareholder (a) did not cause,
directly or indirectly, such shares to
be credited to such account, and (b) directly or indirectly received
any proceeds or other
benefit from such redemption; or
(3) Any Fax Redemption from any account, where the proceeds of such
redemption were requested to be sent to any address other than the
record address or another address for such account which was designated
(a) over the telephone or by telefacsimile at least fifteen (15) days
prior to such redemption, or (b) in the initial application or in
writing at least one (1) day prior to such redemption; or
(4) The intentional failure to adhere to one or more Designated Fax
Procedures; or
(5) The failure to pay for shares attempted to be purchased.
4. The Single Loss Limit of Liability under Insuring Agreement L
is limited to the sum of Five Hundred Twenty Five Thousand Dollars
($525,000) it being understood, however, that
such liability shall be part of and not in addition to the Limit of
Liability stated in Item 3 of the Declarations of the attached Bond
or amendments thereof.
5. With respect to coverage afforded under this Rider the applicable
Single loss Deductible Amount is Twenty Five Dollars ($25,000 ).
Nothing herein contained shall be held to vary, alter, waive, or
extend any of the terms, conditions, provisions, agreements or
limitations of the above mentioned Bond or Policy, other than as
above stated.
By
Authorized Representative
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed if
this endorsement or rider and the Bond or Policy have the same
inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO. 490BD0733
DATE ENDORSEMENT OR RIDER EXECUTED 09/27/07
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY 09/30/07
* ISSUED TO JF CHINA REGION FUND, INC
..
Voice Initiated Transactions
It is agreed that:
1. The attached bond is amended by inserting an additional Insuring
Agreement as follows:
INSURING AGREEMENT K -VOICE-INITIATED TRANSACTIONS
Loss caused by a Voice-initiated Transaction, where the request
for such Voice-initiated Transaction is unauthorized or fraudulent
and is made with the manifest intent to deceive; provided, that the
entity which receives such request generally maintains and follows
during the Bond Period all Designated Procedures with respect to
Voice-initiated Redemptions and the Designated Procedures described
in paragraph 2f (1) and (3) of this Rider with respect to all other
Voice-initiated Transactions. The isolated failure of such entity
to maintain and follow a particular Designated Procedure in a
particular instance will not preclude coverage under this Insuring
Agreement, subject to the specific exclusions herein and in the Bond.
2. Definitions. The following terms used in this Insuring Agreement
shall have the following meanings:
a. "Voice-initiated Transaction" means any Voice-initiated Redemption,
Voice-initiated Election, Voice-initiated Exchange, or Voice-initiated
Purchase.
b. "Voice-initiated Redemption" means any redemption of shares
issued by an Investment Company which is requested by voice over the
telephone.
c. "Voice-initiated Election" means any election concerning dividend
options available to Fund shareholders which is requested by voice
over the telephone.
d. "Voice-initiated Exchange" means any exchange of shares in a
registered account of one Fund into shares in an identically registered
account of another Fund in the same complex pursuant to exchange
privileges of the two Funds, which exchange is requested by voice over
the telephone.
e. "Voice-initiated Purchase" means any purchase of shares issued by
an Investment Company which is requested by voice over the telephone.
f. "Designated Procedures" means the following procedures: (1)
Recordings: All Voice-initiated Transaction requests shall be recorded,
and therecordings shall be retained for at least six (6) months.
Information contained on the recordings shall be capable of being
retrieved and produced within a reasonable time afterretrieval of
specific information is requested, at a success rate of no less
than 85%. (2) Identity Test: The identity of the caller in any
request for a Voice-initiated Redemption shall be tested before
executing that Voice-initiated Redemption, either by requesting
the caller to state a unique identification number or to furnish
key specific account information. (3) Written Confirmation: A
written confirmation of each Voice-initiated Transaction and of
each change of the record address of a Fund shareholder requested
by voice over the telephone shall be mailed to the shareholder(s)
to whose account such Voice-initiated Transaction or change of
address relates, at the original record address (and, in the case
of such change of address, at the changed record address) by the
end of the Insured's next regular processing cycle, but no later
than five (5) business days following such Voice-initiated
Transaction or change of address.
g. "Investment Company" or "Fund" means an investment company
registered under the Investment Company Act of 1940.
h. "Officially Designated" means or refers to a written designation
signed by a shareholder of record of a Fund, either in such
shareholder's initial application for the purchase of Fund shares,
with or without a Signature Guarantee, or in another document with
a Signature Guarantee.
i. "Signature Guarantee" means a written guarantee of a signature,
which guarantee is made by a financial or banking institution
whose deposits are insured by the Federal Deposit Insurance
Corporation or by a broker which is a member of any national
securities exchange registered under the Securities Exchange Act
of 1934.
3. Exclusions. It is further understood and agreed that this
Insuring Agreement shall not cover:
a. Any loss covered under Insuring Agreement A, "Fidelity,"
of this Bond; and
b. Any loss resulting from:
(1) Any Voice-initiated Redemption, where the proceeds of such
redemption were requested to be paid or made payable to other than
(a) the shareholder of record, or (b) a person Officially Designated
to receive redemption proceeds, or (c) a bank account
Officially Designated to receive redemption proceeds; or
(2) Any Voice-initiated Redemption of Fund shares which had been
improperly credited to a
shareholder's account, where such shareholder (a) did not cause,
directly or indirectly,
such shares to be credited to such account, and (b) directly or
indirectly received any
proceeds or other benefit from such redemption; or
(3) Any Voice-initiated Redemption from any account, where the
proceeds of such redemption were requested to be sent (a) to any
address other than the record address for such account,or (b) to
a record address for such account which was either (i) designated
over the telephone fewer than thirty (30) days prior to such
redemption, or (ii) designated in writing less than on (1) day
prior to such redemption; or
(4) The intentional failure to adhere to one or more Designated
Procedures; or
(5) The failure to pay for shares attempted to be purchased; or
(6) Any Voice-initiated Transaction requested by voice over the
telephone and received by an automated system which receives and
converts such request to executable instructions.
4. The total liability of the Underwriter under Insuring Agreement
K is limited to the sum of Five Hundred Twenty Five Thousand
Dollars ($525,000), it being understood, however,that such liability
shall be part of and not in addition to the Limit of Liability
stated in Item 3 of the Declarations of the attached bond or
amendment thereof.
5. With respect to coverage afforded under this Rider the applicable
Deductible Amount is Twenty Five Dollars ($25,000 ). Nothing herein
contained shall be held to vary, alter, waive, or extend any of
the terms,conditions, provisions, agreements or limitations of
the above mentioned Bond or Policy, other than as above stated.
By
Authorized Representative
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider and the Bond or Policy have the same
inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO. 490BD0733
DATE ENDORSEMENT OR RIDER EXECUTED 09/27/07
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD
TIME AS SPECIFIED IN THE BOND OR POLICY 09/30/07
* ISSUED TO JF CHINA REGION FUND, INC.
Definition of Investment Company
It is agreed that:
1. Section 1, Definitions, under General Agreements is amended
to include the following paragraph:
(f) Investment Company means an investment company registered
under the Investment Company Act of 1940 and as listed under
the names of Insureds on the Declarations. Nothing herein
contained shall be held to vary, alter, waive, or extend any
of the terms, conditions, provisions, agreements or limitations
of the above mentioned Bond or Policy, other than as above stated.
By
Authorized Representative
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider
and the Bond or Policy have the same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO. 490BD0733
DATE ENDORSEMENT OR RIDER EXECUTED 09/27/07
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD
TIME AS SPECIFIED IN THE BOND OR POLICY 09/30/07
* ISSUED TO JF CHINA REGION FUND, INC.
AMEND DEFINITION OF EMPLOYEE (INCLUDE CONTRACTORS)
It is agreed that:
1. Section 1(a) EMPLOYEES, under Definitions -CONDITIONS AND
LIMITATIONS, is amended to include the following sub-section;
(X ) A person provided by an employment contractor to perform
duties for the Insured under the Insured's supervision at any
of the Insured's offices or premises covered hereunder. Nothing
herein contained shall be held to vary, alter, waive, or extend
any of the terms, conditions, provisions, agreements or
limitations of the above mentioned Bond or Policy, other than
as above stated.
By
Authorized Representative
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider and the Bond or Policy have the same
inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO. 490BD0733
DATE ENDORSEMENT OR RIDER EXECUTED 09/27/07
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD
TIME AS SPECIFIED IN THE BOND OR POLICY 09/30/07
* ISSUED TO JF CHINA REGION FUND, INC.
Add Exclusions (n) & (o)
It is agreed that:
1. Section 2, Exclusions, under General Agreements, is amended
to include the following sub-sections:
(n) loss from the use of credit, debit, charge, access,
convenience, identification, cash management or other cards,
whether such cards were issued or purport to have been issued
by the Insured or by anyone else, unless such loss is otherwise
covered under Insuring Agreement A.
(o) the underwriter shall not be liable under the attached bond
for loss due to liability imposed upon the Insured as a result
of the unlawful disclosure of non-public material information
by the Insured or any Employee, or as a result of any Employee
acting upon such information, whether authorized or unauthorized.
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements
or limitations of the above mentioned Bond or Policy, other
than as above stated.
By
Authorized Representative
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider and the Bond or Policy have the same
inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO. 490BD0733
DATE ENDORSEMENT OR RIDER EXECUTED 09/27/07
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD
TIME AS SPECIFIED IN THE BOND
OR POLICY 09/30/07
* ISSUED TO JF CHINA REGION FUND, INC.
New York Statutory Rider
1. The first paragraph of Section 13. "TERMINATION" under
Conditions and Limitations is amended by adding the following:
Cancellation of this bond by the Underwriter is subject to the
following provisions: If the bond has been in effect for 60
days or less, it may be canceled by the Underwriter for any
reason. Such cancellation shall be effective 60 days after
the Underwriter mails a notice of cancellation to the first-
named Insured at the mailing address shown in the bond.
However, if the bond has been in effect for more than 60 days
or is a renewal, then cancellation must be based on one of
the followings grounds:
(A) non-payment of premium, however, that a notice of
cancellation on this ground shall inform the insured of the
amount due;
(B) conviction of crime arising out of acts increasing the
hazard insured against;
(C) discovery of fraud or material misrepresentation in the
obtaining of the bond or in the presentation of claim
thereunder;
(D) after issuance of the bond or after the last renewal date,
discovery of an act or omission, or a violation of any
bond condition that substantially and materially increases
the hazard Insured against, and which occurred subsequent
to inception of the current bond period;
(E) material change in the nature or extent of the risk,
occurring after issuance or last annual renewal anniversary
date of the bond, which causes the risk of loss to be
substantially and materially increased beyond that
contemplated at the time the bond 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 the Insurer's
solvency or be hazardous to the interest of the Insureds,
the Insurer's creditors or the public;
(G) a determination by the superintendent that the continuation
of the bond 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 cancellation 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 cancellation is
desired, and
(ii) notice of cancellation on this ground shall be provided
simultaneously by the Insurer to the Insurance Department
of the State of New York.
(iii) upon written request of the Insured made to the
Insurance Department of the State of New York within ten
days from the Insured's receipt of notice of cancellation
on this ground, the department shall undertake a review of
the ground for cancellation to determine whether or not the
Insurer has satisfied the criteria for cancellation specified
in this subparagraph; if after such review the department
finds not sufficient cause for cancellation on this ground,
the notice of cancellation on this ground shall be deemed
null and void. Cancellation based on one of the above
grounds shall be effective 60 days after the notice of
cancellation is mailed or delivered to the Named Insured,
at the address shown on the bond, and to its authorized
agent or broker.
2. If the Underwriter elects not to replace a bond at the
termination of the Bond 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 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.
3. If the Underwriter elects to replace the bond,
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 shall be in effect
with the same terms, conditions and rates as the terminated bond
for 60 days after such notice is given.
4. The Underwriter may
elect to simply notify the Insured that the bond will either be
not renewed or renewed with different terms, conditions or
rates. In this event, the Underwriter will inform the Insured
that a second notice will be sent at a later date specifying
the Underwriter'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 until
the expiration date of the bond or 60 days after the second notice
is mailed or delivered, whichever is later. Nothing herein
contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of
the above mentioned Bond or Policy, other than as above stated.
By
Authorized Representative