-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JkC6nSg4iLLzbl5w8050S48qIGsVNtUeLgwIKF7lOT7mBromDDjIt3ou3diPbx4Q hq6ki1osEMmDlpAQ3B4mYg== 0000905148-09-003568.txt : 20091120 0000905148-09-003568.hdr.sgml : 20091120 20091120150324 ACCESSION NUMBER: 0000905148-09-003568 CONFORMED SUBMISSION TYPE: 40-17G PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20091120 DATE AS OF CHANGE: 20091120 EFFECTIVENESS DATE: 20091120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: READY ASSETS PRIME MONEY FUND CENTRAL INDEX KEY: 0000065109 IRS NUMBER: 036673653 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-02556 FILM NUMBER: 091198429 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH READY ASSETS TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: EDIE LIONEL D READY ASSETS TRUST DATE OF NAME CHANGE: 19760810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK LIQUIDITY FUNDS CENTRAL INDEX KEY: 0000097098 IRS NUMBER: 520983343 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-02354 FILM NUMBER: 091198436 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK PROVIDENT INSTITUTIONAL FUNDS DATE OF NAME CHANGE: 20010126 FORMER COMPANY: FORMER CONFORMED NAME: PROVIDENT INSTITUTIONAL FUNDS DATE OF NAME CHANGE: 19990521 FORMER COMPANY: FORMER CONFORMED NAME: TEMPORARY INVESTMENT FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK PACIFIC FUND, INC. CENTRAL INDEX KEY: 0000202741 IRS NUMBER: 132866632 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-02661 FILM NUMBER: 091198453 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH PACIFIC FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: NOMURA CAPITAL FUND OF JAPAN INC DATE OF NAME CHANGE: 19800819 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CMA MONEY FUND CENTRAL INDEX KEY: 0000215457 IRS NUMBER: 132960583 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-02752 FILM NUMBER: 091198446 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: CMA MONEY TRUST DATE OF NAME CHANGE: 19811108 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CMA TAX EXEMPT FUND/ CENTRAL INDEX KEY: 0000320281 IRS NUMBER: 136789904 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-03111 FILM NUMBER: 091198432 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: CMA TAX EXEMPT TRUST DATE OF NAME CHANGE: 19910505 FORMER COMPANY: FORMER CONFORMED NAME: CMA TAX EXEMPT FUND DATE OF NAME CHANGE: 19870802 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST CENTRAL INDEX KEY: 0000353281 IRS NUMBER: 136797398 STATE OF INCORPORATION: MD FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-03189 FILM NUMBER: 091198463 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: FINANCIAL INSTITUTIONS SERIES TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CMA GOVERNMENT SECURITIES FUND CENTRAL INDEX KEY: 0000353480 IRS NUMBER: 136798425 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-03205 FILM NUMBER: 091198450 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RETIREMENT SERIES TRUST CENTRAL INDEX KEY: 0000356013 IRS NUMBER: 133092129 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-03310 FILM NUMBER: 091198434 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: RETIREMENT RESERVES MO FU OF RETIREMENT SERIES TRUST DATE OF NAME CHANGE: 20090504 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH RETIREMENT RESERVES MO FU OF MER LYN RE SER TR DATE OF NAME CHANGE: 19930227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ready Assets USA Government Money Fund CENTRAL INDEX KEY: 0000704957 IRS NUMBER: 136811522 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-03534 FILM NUMBER: 091198438 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH USA GOVERNMENT RESERVES DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK HEALTHCARE FUND, INC. CENTRAL INDEX KEY: 0000709140 IRS NUMBER: 133143879 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-03595 FILM NUMBER: 091198461 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 08536 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 08536 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH HEALTHCARE FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SCI TECH INC DATE OF NAME CHANGE: 19830216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CMA MULTI STATE MUNICIPAL SERIES TRUST CENTRAL INDEX KEY: 0000810598 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-05011 FILM NUMBER: 091198452 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: CMA NEW YORK LMTX FUND OF CMA MULTI STATE TAX EXEMPT SE TRUS DATE OF NAME CHANGE: 19870423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Funds for Institutions Series CENTRAL INDEX KEY: 0000814079 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-05149 FILM NUMBER: 091198440 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK FUNDS CENTRAL INDEX KEY: 0000844779 IRS NUMBER: 510318674 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-05742 FILM NUMBER: 091198435 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: COMPASS CAPITAL FUNDS\ DATE OF NAME CHANGE: 19961114 FORMER COMPANY: FORMER CONFORMED NAME: PNC FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: NCP FUNDS DATE OF NAME CHANGE: 19890511 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK GLOBAL EMERGING MARKETS FUND, INC. CENTRAL INDEX KEY: 0000849402 IRS NUMBER: 222986118 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-05723 FILM NUMBER: 091198447 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK DEVELOPING CAPITAL MARKETS FUND, INC. DATE OF NAME CHANGE: 20061002 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH DEVELOPING CAPITAL MARKETS FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH ECONOMIC DEVELOPMENT FUND INC DATE OF NAME CHANGE: 19890725 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CMA TREASURY MONEY FUND CENTRAL INDEX KEY: 0000869311 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-06196 FILM NUMBER: 091198442 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: CMA TREASURY FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ready Assets U.S. Treasury Money Fund CENTRAL INDEX KEY: 0000869663 IRS NUMBER: 223095131 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-06211 FILM NUMBER: 091198439 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH U S TREASURY MONEY FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH TREASURY ASSETS FUND DATE OF NAME CHANGE: 19910331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK LATIN AMERICA FUND, INC. CENTRAL INDEX KEY: 0000877151 IRS NUMBER: 223122997 STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-06349 FILM NUMBER: 091198454 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH LATIN AMERICA FUND INC DATE OF NAME CHANGE: 19920717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QUANTITATIVE MASTER SERIES LLC CENTRAL INDEX KEY: 0001025836 IRS NUMBER: 223483688 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-07885 FILM NUMBER: 091198460 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: QUANTITATIVE MASTER SERIES TRUST DATE OF NAME CHANGE: 19991216 FORMER COMPANY: FORMER CONFORMED NAME: INDEX MASTER SERIES TRUST DATE OF NAME CHANGE: 19990730 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH INDEX TRUST DATE OF NAME CHANGE: 19961024 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK INDEX FUNDS, INC. CENTRAL INDEX KEY: 0001026144 IRS NUMBER: 223483675 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-07899 FILM NUMBER: 091198459 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH INDEX FUNDS INC DATE OF NAME CHANGE: 19961031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK TECHNOLOGY FUND, INC. CENTRAL INDEX KEY: 0001058297 IRS NUMBER: 223585065 STATE OF INCORPORATION: MD FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-08721 FILM NUMBER: 091198428 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK GLOBAL TECHNOLOGY FUND, INC. DATE OF NAME CHANGE: 20061003 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCKGLOBAL TECHNOLOGY FUND, INC. DATE OF NAME CHANGE: 20061002 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH GLOBAL TECHNOLOGY FUND INC DATE OF NAME CHANGE: 19990322 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MASTER LLC CENTRAL INDEX KEY: 0001062805 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-09049 FILM NUMBER: 091198458 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK MASTER TRUST DATE OF NAME CHANGE: 20061002 FORMER COMPANY: FORMER CONFORMED NAME: MERCURY MASTER TRUST /DE/ DATE OF NAME CHANGE: 20000911 FORMER COMPANY: FORMER CONFORMED NAME: MERCURY ASSET MANAGEMENT MASTER TRUST DATE OF NAME CHANGE: 19981007 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK SERIES, INC. CENTRAL INDEX KEY: 0001062806 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-08797 FILM NUMBER: 091198457 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 09809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 09809 FORMER COMPANY: FORMER CONFORMED NAME: MERCURY FUNDS INC DATE OF NAME CHANGE: 20010827 FORMER COMPANY: FORMER CONFORMED NAME: MERCURY ASSET MANAGEMENT FUNDS INC DATE OF NAME CHANGE: 19980714 FORMER COMPANY: FORMER CONFORMED NAME: MERCURY ALPHA FUND INC DATE OF NAME CHANGE: 19980601 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK GLOBAL FINANCIAL SERVICES FUND, INC. CENTRAL INDEX KEY: 0001086641 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-09375 FILM NUMBER: 091198462 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH GLOBAL FINANCIAL SERVICES FUND INC DATE OF NAME CHANGE: 19990518 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MASTER LARGE CAP SERIES LLC CENTRAL INDEX KEY: 0001095789 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-09739 FILM NUMBER: 091198456 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MASTER LARGE CAP SERIES TRUST DATE OF NAME CHANGE: 19990927 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GLOBAL FINANCIAL SERVICES MASTER LLC CENTRAL INDEX KEY: 0001096389 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-09633 FILM NUMBER: 091198437 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: PLAINSBORO STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: PLAINSBORO STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: GLOBAL FINANCIAL SERVICES MASTER TRUST DATE OF NAME CHANGE: 19991006 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK LARGE CAP SERIES FUNDS, INC. CENTRAL INDEX KEY: 0001097077 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-09637 FILM NUMBER: 091198455 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH LARGE CAP SERIES FUNDS INC DATE OF NAME CHANGE: 19991018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MASTER INSTITUTIONAL MONEY MARKET LLC CENTRAL INDEX KEY: 0001161852 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-10631 FILM NUMBER: 091198431 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MASTER INSTITUTIONAL MONEY MARKET TRUST DATE OF NAME CHANGE: 20011113 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH MASTER INSTITUTIONAL MONEY MARKET TRUST DATE OF NAME CHANGE: 20011105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WCMA MONEY FUND CENTRAL INDEX KEY: 0001186231 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21196 FILM NUMBER: 091198445 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WCMA GOVERNMENT SECURITIES FUND CENTRAL INDEX KEY: 0001186233 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21197 FILM NUMBER: 091198449 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WCMA TAX EXEMPT FUND CENTRAL INDEX KEY: 0001186235 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21198 FILM NUMBER: 091198430 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: WCMA TAX EXEMPT FUND DATE OF NAME CHANGE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WCMA TREASURY FUND CENTRAL INDEX KEY: 0001186237 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21199 FILM NUMBER: 091198441 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: WCMA TREASURY FUND DATE OF NAME CHANGE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MASTER MONEY LLC CENTRAL INDEX KEY: 0001186239 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21299 FILM NUMBER: 091198448 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MASTER MONEY TRUST DATE OF NAME CHANGE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MASTER GOVERNMENT SECURITIES LLC CENTRAL INDEX KEY: 0001186241 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21300 FILM NUMBER: 091198451 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MASTER GOVERNMENT SECURITIES DATE OF NAME CHANGE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MASTER TAX EXEMPT LLC CENTRAL INDEX KEY: 0001186243 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21301 FILM NUMBER: 091198444 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MASTER TAX EXEMPT DATE OF NAME CHANGE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MASTER TREASURY LLC CENTRAL INDEX KEY: 0001186244 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21298 FILM NUMBER: 091198443 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MASTER TREASURY DATE OF NAME CHANGE: 20020905 40-17G 1 efc9-1031_fm4017g.htm Unassociated Document

 
 
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November 20, 2009
 
VIA EDGAR
 
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Re:
Rule 17g-1 Filing For Registered Investment Companies Listed on Schedule A
Advised by BlackRock Advisors, LLC or an affiliate (the “Funds”)                   
 
Ladies and Gentlemen:
 
On behalf of the Funds and pursuant to Rule 17g-1(g)(1) under the Investment Company Act of 1940, as amended (the “1940 Act”), I hereby submit for filing with the Securities and Exchange Commission:  (1) a copy of the joint fidelity bond executed on behalf of the Funds; (2) a copy of the resolutions of a majority of the Board of Directors/Trustees who are not “interested persons” (as defined in the 1940 Act) of the Funds approving the amount, type, form and coverage of the joint fidelity bond and the portion of the premium to be paid by each Fund, as well as approving the Sharing Agreement (as defined below), as amended to date; (3) a statement showing the amount of the single insured bond which each Fund would have provided and maintained had it not been named as an insured under the joint fidelity bond (Schedule A to the Assistant Secretary’s Certificate); (4) a statement as to the period for which premiums have been paid under the joint fidelity bond; and (5) an agreement among the Funds concerning the allocation of fidelity bond premiums and recoveries (the “Sharing Agreement”).
 
If you have any questions concerning this filing, please call the undersigned at (212) 839-5583.
 

 
   
 Very truly yours,
     
   
 /s/ Ellen W. Harris
     
   
 Ellen W. Harris
 
Enclosures
 
cc:
Edward Baer
 
John A. MacKinnon
 
 
 

 
 
 
 

 
 
Schedule A

BlackRock Financial Institutions Series Trust
BlackRock FundsSM
BlackRock Global Emerging Markets Fund, Inc.
BlackRock Global Financial Services Fund, Inc.
BlackRock Healthcare Fund, Inc.
BlackRock Index Funds, Inc.
BlackRock Large Cap Series Funds, Inc.
BlackRock Latin America Fund, Inc.
BlackRock Liquidity Funds
BlackRock Master LLC
BlackRock Pacific Fund, Inc.
BlackRock Series, Inc.
BlackRock Technology Fund, Inc.
CMA Government Securities Fund
CMA Money Fund
CMA Multi-State Municipal Series Trust
CMA Tax-Exempt Fund
CMA Treasury Fund
Funds for Institutions Series
Global Financial Services Master LLC
Master Government Securities LLC
Master Institutional Money Market LLC
Master Large Cap Series LLC
Master Money LLC
Master Tax-Exempt LLC
Master Treasury LLC
Quantitative Master Series LLC
Ready Assets Prime Money Fund
Ready Assets U.S.A. Government Money Fund
Ready Assets U.S. Treasury Money Fund
Retirement Series Trust
WCMA Government Securities Fund
WCMA Money Fund
WCMA Tax-Exempt Fund
WCMA Treasury Fund
 
 
 
 

 
 
 
 
       
Chubb Group of Insurance Companies
     
DECLARATIONS
       
                       
FINANCIAL INSTITUTION INVESTMENT
       
15 Mountain View Road, Warren, New Jersey 07059
 
COMPANY ASSET PROTECTION BOND
 
 
NAME OF ASSURED (including its Subsidiaries):
     
Bond Number: 82126650
       
 
BLACKROCK EQUITY/LIQUIDITY COMPLEX
               
                       
VIGILANT INSURANCE COMPANY
40 East 52nd Street
             
Incorporated under the laws of New York
   
                       
a stock insurance company herein called the COMPANY
NEW YORK, NY 10022
                       
                       
55 Water Street, New York NY 10041-2899
   
                             
 
 
ITEM 1.
 
BOND PERIOD:
 
from
 
12:01 a.m. on
 
November 1, 2008
       
           
to
 
12:01 a.m. on
 
November 1, 2009
       
 
ITEM 2.
 
LIMITS OF LIABILITY--DEDUCTIBLE AMOUNTS:
           
 
   
If “Not Covered” is inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE
   
and any other reference shall be deemed to be deleted. There shall be no deductible applicable to any
   
loss under INSURING CLAUSE 1. sustained by any Investment Company.
       
 
                           
DEDUCTIBLE
   
INSURING CLAUSE
         
LIMIT OF LIABILITY
     
AMOUNT
   
1.
 
Employee
             
$ 63,600,000
 
$ 0
   
2.
 
On Premises
         
$ 63,600,000
 
$ 25,000
   
3.
 
In Transit
             
$ 63,600,000
 
$ 25,000
   
4.
 
Forgery or Alteration
         
$ 63,600,000
 
$ 25,000
   
5.
 
Extended Forgery
         
$ 63,600,000
 
$ 25,000
   
6.
 
Counterfeit Money
         
$ 63,600,000
 
$ 25,000
   
7.
 
Threats to Person
         
$ Not Covered
 
$ N/A
   
8.
 
Computer System
         
$ 63,600,000
 
$ 25,000
   
9.
 
Voice Initiated Funds Transfer Instruction
 
$ 63,600,000
 
$ 25,000
   
10.
 
Uncollectible Items of Deposit
     
$ 25,000
 
$ 5,000
   
11.
 
Audit Expense
         
$ 50,000
 
$ 5,000
   
12.
 
Telefacsimile Transfer Fund
     
$ 63,600,000
 
$ 25,000
 
ITEM 3.
 
THE LIABILITY OF THE COMPANY IS ALSO SUBJECT TO THE TERMS OF THE FOLLOWING
   
ENDORSEMENTS EXECUTED SIMULTANEOUSLY HEREWITH:
       
 
   
Endorsements 1 - 7
                   
 
IN WITNESS WHEREOF, THE COMPANY has caused this Bond to be signed by its authorized officers, but it shall not
be valid unless also signed by an authorized representative of the Company.
       
 


ICAP Bond (5-98) - Vigilant
 
Form 17-02-1422 (Ed. 5-98)
Page 1 of 1
 

 
 
   
The COMPANY, in consideration of payment of the required premium, and in reliance
   
on the APPLICATION and all other statements made and information furnished to the
   
COMPANY by the ASSURED, and subject to the DECLARATIONS made a part of this
   
Bond and to all other terms and conditions of this Bond, agrees to pay the ASSURED
   
for:
           
                 
 
 
Insuring Clauses
               
 
 
Employee
 
1.
 
Loss resulting directly from Larceny or Embezzlement committed by any
       
Employee, alone or in collusion with others.
         
 
 
 
On Premises
 
2.
 
Loss of Property resulting directly from robbery, burglary, false pretenses,
       
common law or statutory larceny, misplacement, mysterious unexplainable
       
disappearance, damage, destruction or removal, from the possession, custody or
       
control of the ASSURED, while such Property is lodged or deposited at premises
       
located anywhere.
         
 
 
In Transit
 
3.
 
Loss of Property resulting directly from common law or statutory larceny,
       
misplacement, mysterious unexplainable disappearance, damage or destruction,
       
while the Property is in transit anywhere:
 
       
a.
 
in an armored motor vehicle, including loading and unloading thereof,
 
       
b.
 
in the custody of a natural person acting as a messenger of the ASSURED,
           
or
   
 
       
c.
 
in the custody of a Transportation Company and being transported in a
           
conveyance other than an armored motor vehicle provided, however, that
           
covered Property transported in such manner is limited to the following:
 
           
(1)
 
written records,
 
           
(2)
 
securities issued in registered form, which are not endorsed or are
               
restrictively endorsed, or
 
           
(3)
 
negotiable instruments not payable to bearer, which are not endorsed
               
or are restrictively endorsed.
 
       
Coverage under this INSURING CLAUSE begins immediately on the receipt of
       
such Property by the natural person or Transportation Company and ends
       
immediately on delivery to the premises of the addressee or to any representative
       
of the addressee located anywhere.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 1 of 19
 

 

 

 
Insuring Clauses
               
(continued)
               
 
 
Forgery Or Alteration
 
4.
 
Loss resulting directly from:
       
a.
 
Forgery on, or fraudulent material alteration of, any bills of exchange,
           
checks, drafts, acceptances, certificates of deposits, promissory notes, due
           
bills, money orders, orders upon public treasuries, letters of credit, other
           
written promises, orders or directions to pay sums certain in money, or
           
receipts for the withdrawal of Property, or
 
       
b.
 
transferring, paying or delivering any funds or other Property, or establishing
           
any credit or giving any value in reliance on any written instructions, advices
           
or applications directed to the ASSURED authorizing or acknowledging the
           
transfer, payment, delivery or receipt of funds or other Property, which
           
instructions, advices or applications fraudulently purport to bear the
           
handwritten signature of any customer of the ASSURED, or shareholder or
           
subscriber to shares of an Investment Company, or of any financial
           
institution or Employee but which instructions, advices or applications either
           
bear a Forgery or have been fraudulently materially altered without the
           
knowledge and consent of such customer, shareholder, subscriber, financial
           
institution or Employee;
 
       
excluding, however, under this INSURING CLAUSE any loss covered under
       
INSURING CLAUSE 5. of this Bond, whether or not coverage for INSURING
       
CLAUSE 5. is provided for in the DECLARATIONS of this Bond.
 
       
For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile
       
signature is treated the same as a handwritten signature.
         
 
 
Extended Forgery
 
5.
 
Loss resulting directly from the ASSURED having, in good faith, and in the
       
ordinary course of business, for its own account or the account of others in any
       
capacity:
   
 
       
a.
 
acquired, accepted or received, accepted or received, sold or delivered, or
           
given value, extended credit or assumed liability, in reliance on any original
           
Securities, documents or other written instruments which prove to:
 
           
(1)
 
bear a Forgery or a fraudulently material alteration,
 
           
(2)
 
have been lost or stolen, or
 
           
(3)
 
be Counterfeit, or
 
       
b.
 
guaranteed in writing or witnessed any signatures on any transfer,
           
assignment, bill of sale, power of attorney, guarantee, endorsement or other
           
obligation upon or in connection with any Securities, documents or other
           
written instruments.
 
       
Actual physical possession, and continued actual physical possession if taken as
       
collateral, of such Securities, documents or other written instruments by an
       
Employee, Custodian, or a Federal or State chartered deposit institution of the
       
ASSURED is a condition precedent to the ASSURED having relied on such items.
       
Release or return of such collateral is an acknowledgment by the ASSURED that it
       
no longer relies on such collateral.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 2 of 19
 


 
 

 
Insuring Clauses
               
 
 
Extended Forgery
     
For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile
(continued)
     
signature is treated the same as a handwritten signature.
         
 
 
Counterfeit Money
 
6.
 
Loss resulting directly from the receipt by the ASSURED in good faith of any
       
Counterfeit money.
         
 
 
Threats To Person
 
7.
 
Loss resulting directly from surrender of Property away from an office of the
       
ASSURED as a result of a threat communicated to the ASSURED to do bodily
       
harm to an Employee as defined in Section 1.e. (1), (2) and (5), a Relative or
       
invitee of such Employee, or a resident of the household of such Employee, who
       
is, or allegedly is, being held captive provided, however, that prior to the surrender
       
of such Property:
 
       
a.
 
the Employee who receives the threat has made a reasonable effort to
           
notify an officer of the ASSURED who is not involved in such threat, and
 
       
b.
 
the ASSURED has made a reasonable effort to notify the Federal Bureau of
           
Investigation and local law enforcement authorities concerning such threat.
 
       
It is agreed that for purposes of this INSURING CLAUSE, any Employee of the
       
ASSURED, as set forth in the preceding paragraph, shall be deemed to be an
       
ASSURED hereunder, but only with respect to the surrender of money, securities
       
and other tangible personal property in which such Employee has a legal or
       
equitable interest.
         
 
 
Computer System
 
8.
 
Loss resulting directly from fraudulent:
       
a.
 
entries of data into, or
 
       
b.
 
changes of data elements or programs within,
 
       
a Computer System, provided the fraudulent entry or change causes:
 
           
(1)
 
funds or other property to be transferred, paid or delivered,
 
           
(2)
 
an account of the ASSURED or of its customer to be added, deleted,
               
debited or credited, or
 
           
(3)
 
an unauthorized account or a fictitious account to be debited or
               
credited.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 3 of 19
 

 

 

 
Insuring Clauses
           
(continued)
           
 
 
Voice Initiated Funds
 
9.
 
Loss resulting directly from Voice Initiated Funds Transfer Instruction directed
Transfer Instruction
     
to the ASSURED authorizing the transfer of dividends or redemption proceeds of
       
Investment Company shares from a Customer's account, provided such Voice
       
Initiated Funds Transfer Instruction was:
 
       
a.
 
received at the ASSURED'S offices by those Employees of the ASSURED
           
specifically authorized to receive the Voice Initiated Funds Transfer
           
Instruction,
 
       
b.
 
made by a person purporting to be a Customer, and
 
       
c.
 
made by said person for the purpose of causing the ASSURED or Customer
           
to sustain a loss or making an improper personal financial gain for such
           
person or any other person.
 
       
In order for coverage to apply under this INSURING CLAUSE, all Voice Initiated
       
Funds Transfer Instructions must be received and processed in accordance with
       
the Designated Procedures outlined in the APPLICATION furnished to the
       
COMPANY.
         
 
 
Uncollectible Items of
 
10.
 
Loss resulting directly from the ASSURED having credited an account of a
Deposit
     
customer, shareholder or subscriber on the faith of any Items of Deposit which
       
prove to be uncollectible, provided that the crediting of such account causes:
 
       
a.
 
redemptions or withdrawals to be permitted,
 
       
b.
 
shares to be issued, or
 
       
c.
 
dividends to be paid,
 
       
from an account of an Investment Company.
 
       
In order for coverage to apply under this INSURING CLAUSE, the ASSURED
       
must hold Items of Deposit for the minimum number of days stated in the
       
APPLICATION before permitting any redemptions or withdrawals, issuing any
       
shares or paying any dividends with respect to such Items of Deposit.
 
       
Items of Deposit shall not be deemed uncollectible until the ASSURED'S
       
standard collection procedures have failed.
         
 
 
Audit Expense
 
11.
 
Expense incurred by the ASSURED for that part of the cost of audits or
       
examinations required by any governmental regulatory authority or self-regulatory
       
organization to be conducted by such authority, organization or their appointee by
       
reason of the discovery of loss sustained by the ASSURED and covered by this
       
Bond.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 4 of 19
 

 

 

 
General Agreements
           
 
 
Additional Companies
 
A.
 
If more than one corporation, or Investment Company, or any combination of
Included As Assured
     
them is included as the ASSURED herein:
       
(1)
 
The total liability of the COMPANY under this Bond for loss or losses
           
sustained by any one or more or all of them shall not exceed the limit for
           
which the COMPANY would be liable under this Bond if all such loss were
           
sustained by any one of them.
 
       
(2)
 
Only the first named ASSURED shall be deemed to be the sole agent of the
           
others for all purposes under this Bond, including but not limited to the giving
           
or receiving of any notice or proof required to be given and for the purpose of
           
effecting or accepting any amendments to or termination of this Bond. The
           
COMPANY shall furnish each Investment Company with a copy of the
           
Bond and with any amendment thereto, together with a copy of each formal
           
filing of claim by any other named ASSURED and notification of the terms of
           
the settlement of each such claim prior to the execution of such settlement.
 
       
(3)
 
The COMPANY shall not be responsible for the proper application of any
           
payment made hereunder to the first named ASSURED.
 
       
(4)
 
Knowledge possessed or discovery made by any partner, director, trustee,
           
officer or supervisory employee of any ASSURED shall constitute knowledge
           
or discovery by all the ASSUREDS for the purposes of this Bond.
 
       
(5)
 
If the first named ASSURED ceases for any reason to be covered under this
           
Bond, then the ASSURED next named on the APPLICATION shall thereafter
           
be considered as the first named ASSURED for the purposes of this Bond.
             
 
 
Representation Made By
 
B.
 
The ASSURED represents that all information it has furnished in the
Assured
     
APPLICATION for this Bond or otherwise is complete, true and correct. Such
       
APPLICATION and other information constitute part of this Bond.
 
       
The ASSURED must promptly notify the COMPANY of any change in any fact or
       
circumstance which materially affects the risk assumed by the COMPANY under
       
this Bond.
 
       
Any intentional misrepresentation, omission, concealment or incorrect statement of
       
a material fact, in the APPLICATION or otherwise, shall be grounds for recision of
       
this Bond.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 5 of 19
 


 
 

 
General Agreements
           
(continued)
           
 
Additional Offices Or
 
C.
 
If the ASSURED, other than an Investment Company, while this Bond is in force,
Employees - Consolidation,
     
merges or consolidates with, or purchases or acquires assets or liabilities of
Merger Or Purchase Or
     
another institution, the ASSURED shall not have the coverage afforded under this
Acquisition Of Assets Or
     
Bond for loss which has:
Liabilities - Notice To
     
(1)
 
occurred or will occur on premises, or
Company
           
       
(2)
 
been caused or will be caused by an employee, or
       
(3)
 
arisen or will arise out of the assets or liabilities,
       
of such institution, unless the ASSURED:
       
a.
 
gives the COMPANY written notice of the proposed consolidation, merger or
           
purchase or acquisition of assets or liabilities prior to the proposed effective
           
date of such action, and
       
b.
 
obtains the written consent of the COMPANY to extend some or all of the
           
coverage provided by this Bond to such additional exposure, and
       
c.
 
on obtaining such consent, pays to the COMPANY an additional premium.
             
 
 
Change Of Control -
 
D.
 
When the ASSURED learns of a change in control (other than in an Investment
Notice To Company
     
Company), as set forth in Section 2(a) (9) of the Investment Company Act of
       
1940,
 
the ASSURED shall within sixty (60) days give written notice to the
       
COMPANY setting forth:
       
(1)
 
the names of the transferors and transferees (or the names of the beneficial
           
owners if the voting securities are registered in another name),
       
(2)
 
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
       
(3)
 
the total number of outstanding voting securities.
       
Failure to give the required notice shall result in termination of coverage for any
       
loss involving a transferee, to be effective on the date of such change in control.
         
 
 
Court Costs And
 
E.
 
The COMPANY will indemnify the ASSURED for court costs and reasonable
Attorneys’ Fees
     
attorneys' fees incurred and paid by the ASSURED in defense, whether or not
       
successful, whether or not fully litigated on the merits and whether or not settled,
       
of any claim, suit or legal proceeding with respect to which the ASSURED would
       
be entitled to recovery under this Bond. However, with respect to INSURING
       
CLAUSE 1., this Section shall only apply in the event that:
       
(1)
 
an Employee admits to being guilty of Larceny or Embezzlement,
       
(2)
 
an Employee is adjudicated to be guilty of Larceny or Embezzlement, or
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 6 of 19
 

 

 

 
General Agreements
       
 
 
Court Costs And
 
(3)
 
in the absence of 1 or 2 above, an arbitration panel agrees, after a review of
Attorneys’ Fees
     
an agreed statement of facts between the COMPANY and the ASSURED,
(continued)
     
that an Employee would be found guilty of Larceny or Embezzlement if
       
such Employee were prosecuted.
 
   
The ASSURED shall promptly give notice to the COMPANY of any such suit or
   
legal proceeding and at the request of the COMPANY shall furnish copies of all
   
pleadings and pertinent papers to the COMPANY. The COMPANY may, at its
   
sole option, elect to conduct the defense of all or part of such legal proceeding.
   
The defense by the COMPANY shall be in the name of the ASSURED through
   
attorneys selected by the COMPANY. The ASSURED shall provide all reasonable
   
information and assistance as required by the COMPANY for such defense.
 
   
If the COMPANY declines to defend the ASSURED, no settlement without the
   
prior written consent of the COMPANY nor judgment against the ASSURED shall
   
determine the existence, extent or amount of coverage under this Bond.
 
   
If the amount demanded in any such suit or legal proceeding is within the
   
DEDUCTIBLE AMOUNT, if any, the COMPANY shall have no liability for court
   
costs and attorney's fees incurred in defending all or part of such suit or legal
   
proceeding.
 
   
If the amount demanded in any such suit or legal proceeding is in excess of the
   
LIMIT OF LIABILITY stated in ITEM 2. of the DECLARATIONS for the applicable
   
INSURING CLAUSE, the COMPANY'S liability for court costs and attorney's fees
   
incurred in defending all or part of such suit or legal proceedings is limited to the
   
proportion of such court costs and attorney's fees incurred that the LIMIT OF
   
LIABILITY stated in ITEM 2. of the DECLARATIONS for the applicable INSURING
   
CLAUSE bears to the total of the amount demanded in such suit or legal
   
proceeding.
 
   
If the amount demanded is any such suit or legal proceeding is in excess of the
   
DEDUCTIBLE AMOUNT, if any, but within the LIMIT OF LIABILITY stated in ITEM
   
2.
 
of the DECLARATIONS for the applicable INSURING CLAUSE, the
   
COMPANY'S liability for court costs and attorney's fees incurred in defending all or
   
part of such suit or legal proceedings shall be limited to the proportion of such
   
court costs or attorney's fees that the amount demanded that would be payable
   
under this Bond after application of the DEDUCTIBLE AMOUNT, bears to the total
   
amount demanded.
 
   
Amounts paid by the COMPANY for court costs and attorneys' fees shall be in
   
addition to the LIMIT OF LIABILITY stated in ITEM 2. of the DECLARATIONS.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 7 of 19
 

 

 

 
Conditions And
               
Limitations
               
 
 
Definitions
 
1.
 
As used in this Bond:
       
a.
 
Computer System means a computer and all input, output, processing,
           
storage, off-line media libraries, and communication facilities which are
           
connected to the computer and which are under the control and supervision
           
of the operating system(s) or application(s) software used by the ASSURED.
 
       
b.
 
Counterfeit means an imitation of an actual valid original which is intended
           
to deceive and be taken as the original.
 
       
c.
 
Custodian means the institution designated by an Investment Company to
           
maintain possession and control of its assets.
 
       
d.
 
Customer means an individual, corporate, partnership, trust customer,
           
shareholder or subscriber of an Investment Company which has a written
           
agreement with the ASSURED for Voice Initiated Funds Transfer
           
Instruction.
 
       
e.
 
Employee means:
 
           
(1)
 
an officer of the ASSURED,
 
           
(2)
 
a natural person while in the regular service of the ASSURED at any of
               
the ASSURED'S premises and compensated directly by the ASSURED
               
through its payroll system and subject to the United States Internal
               
Revenue Service Form W-2 or equivalent income reporting plans of
               
other countries, and whom the ASSURED has the right to control and
               
direct both as to the result to be accomplished and details and means
               
by which such result is accomplished in the performance of such
               
service,
 
           
(3)
 
a guest student pursuing studies or performing duties in any of the
               
ASSURED'S premises,
 
           
(4)
 
an attorney retained by the ASSURED and an employee of such
               
attorney while either is performing legal services for the ASSURED,
 
           
(5)
 
a natural person provided by an employment contractor to perform
               
employee duties for the ASSURED under the ASSURED'S supervision
               
at any of the ASSURED'S premises,
 
           
(6)
 
an employee of an institution merged or consolidated with the
               
ASSURED prior to the effective date of this Bond,
 
           
(7)
 
a director or trustee of the ASSURED, but only while performing acts
               
within the scope of the customary and usual duties of any officer or
               
other employee of the ASSURED or while acting as a member of any
               
committee duly elected or appointed to examine or audit or have
               
custody of or access to Property of the ASSURED, or
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 8 of 19
 


 
 

 
Conditions And
           
Limitations
           
 
 
Definitions
 
(8)
 
each natural person, partnership or corporation authorized by written
(continued)
     
agreement with the ASSURED to perform services as electronic data
       
processor of checks or other accounting records related to such checks but
       
only while such person, partnership or corporation is actually performing
       
such services and not:
 
       
a.
 
creating, preparing, modifying or maintaining the ASSURED'S
           
computer software or programs, or
 
       
b.
 
acting as transfer agent or in any other agency capacity in issuing
           
checks, drafts or securities for the ASSURED,
 
   
(9)
 
any partner, officer or employee of an investment advisor, an underwriter
       
(distributor), a transfer agent or shareholder accounting recordkeeper, or an
       
administrator, for an Investment Company while performing acts coming
       
within the scope of the customary and usual duties of an officer or employee
       
of an Investment Company or acting as a member of any committee duly
       
elected or appointed to examine, audit or have custody of or access to
       
Property of an Investment Company.
 
       
The term Employee shall not include any partner, officer or employee of a
       
transfer agent, shareholder accounting recordkeeper or administrator:
 
       
a.
 
which is not an "affiliated person" (as defined in Section 2(a) of the
           
Investment Company Act of 1940) of an Investment Company or of
           
the investment advisor or underwriter (distributor) of such Investment
           
Company, or
 
       
b.
 
which is a "bank" (as defined in Section 2(a) of the Investment
           
Company Act of 1940).
 
           
This Bond does not afford coverage in favor of the employers of
           
persons as set forth in e. (4), (5) and (8) above, and upon payment to
           
the ASSURED by the COMPANY resulting directly from 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 ASSURED'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
           
ASSURED to the COMPANY, and the ASSURED shall execute all
           
papers necessary to secure to the COMPANY the rights provided for
           
herein.
 
       
Each employer of persons as set forth in e.(4), (5) and (8) above and the
       
partners, officers and other employees of such employers shall collectively
       
be deemed to be one person for all the purposes of this Bond; excepting,
       
however, the fifth paragraph of Section 13.
 
       
Independent contractors not specified in e.(4), (5) or (8) above,
       
intermediaries, agents, brokers or other representatives of the same general
       
character shall not be considered Employees.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 9 of 19
 

 

 

 
Conditions And
       
Limitations
       
 
 
Definitions
 
f.
 
Forgery means the signing of the name of another natural person with the
(continued)
     
intent to deceive but does not mean a signature which consists in whole or in
       
part of one's own name, with or without authority, in any capacity for any
       
purpose.
 
   
g.
 
Investment Company means any investment company registered under the
       
Investment Company Act of 1940 and listed under the NAME OF ASSURED
       
on the DECLARATIONS.
 
   
h.
 
Items of Deposit means one or more checks or drafts drawn upon a
       
financial institution in the United States of America.
 
   
i.
 
Larceny or Embezzlement means larceny or embezzlement as defined in
       
Section 37 of the Investment Company Act of 1940.
 
   
j.
 
Property means money, revenue and other stamps; securities; including any
       
note, stock, treasury stock, bond, debenture, evidence of indebtedness,
       
certificate of deposit, certificate of interest or participation in any profit-
       
sharing agreement, collateral trust certificate, preorganization certificate or
       
subscription, transferable share, investment contract, voting trust certificate,
       
certificate of deposit for a security, fractional undivided interest in oil, gas, or
       
other mineral rights, any interest or instruments commonly known as a
       
security under the Investment Company Act of 1940, any other certificate of
       
interest or participation in, temporary or interim certificate for, receipt for,
       
guarantee of, or warrant or right to subscribe to or purchase any of the
       
foregoing; bills of exchange; acceptances; checks; withdrawal orders; money
       
orders; travelers' letters of credit; bills of lading; abstracts of title; insurance
       
policies, deeds, mortgages on real estate and/or upon chattels and interests
       
therein; assignments of such policies, deeds or mortgages; other valuable
       
papers, including books of accounts and other records used by the
       
ASSURED in the conduct of its business (but excluding all electronic data
       
processing records); and, all other instruments similar to or in the nature of
       
the foregoing in which the ASSURED acquired an interest at the time of the
       
ASSURED'S consolidation or merger with, or purchase of the principal
       
assets of, a predecessor or which are held by the ASSURED for any
       
purpose or in any capacity and whether so held gratuitously or not and
       
whether or not the ASSURED is liable therefor.
 
   
k.
 
Relative means the spouse of an Employee or partner of the ASSURED
       
and any unmarried child supported wholly by, or living in the home of, such
       
Employee or partner and being related to them by blood, marriage or legal
       
guardianship.
 
   
l.
 
Securities, documents or other written instruments means original
       
(including original counterparts) negotiable or non-negotiable instruments, or
       
assignments thereof, which in and of themselves represent an equitable
       
interest, ownership, or debt and which are in the ordinary course of business
       
transferable by delivery of such instruments with any necessary
       
endorsements or assignments.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 10 of 19
 


 
 

 
Conditions And
           
Limitations
           
 
 
Definitions
     
m.
 
Subsidiary means any organization that, at the inception date of this Bond,
(continued)
         
is named in the APPLICATION or is created during the BOND PERIOD and
           
of which more than fifty percent (50%) of the outstanding securities or voting
           
rights representing the present right to vote for election of directors is owned
           
or controlled by the ASSURED either directly or through one or more of its
           
subsidiaries.
 
       
n.
 
Transportation Company means any organization which provides its own
           
or its leased vehicles for transportation or which provides freight forwarding
           
or air express services.
 
       
o.
 
Voice Initiated Election means any election concerning dividend options
           
available to Investment Company shareholders or subscribers which is
           
requested by voice over the telephone.
 
       
p.
 
Voice Initiated Redemption means any redemption of shares issued by an
           
Investment Company which is requested by voice over the telephone.
 
       
q.
 
Voice Initiated Funds Transfer Instruction means any Voice Initiated
           
Redemption or Voice Initiated Election.
 
       
For the purposes of these definitions, the singular includes the plural and the
       
plural includes the singular, unless otherwise indicated.
         
 
 
General Exclusions -
 
2.
 
This bond does not directly or indirectly cover:
Applicable to All Insuring
     
a.
 
loss not reported to the COMPANY in writing within sixty (60) days after
Clauses
         
termination of this Bond as an entirety;
 
       
b.
 
loss due to riot or civil commotion outside the United States of America and
           
Canada, or any loss due to military, naval or usurped power, war or
           
insurrection. This Section 2.b., however, shall not apply to loss which occurs
           
in transit in the circumstances recited in INSURING CLAUSE 3., provided
           
that when such transit was initiated there was no knowledge on the part of
           
any person acting for the ASSURED of such riot, civil commotion, military,
           
naval or usurped power, war or insurrection;
 
       
c.
 
loss resulting from the effects of nuclear fission or fusion or radioactivity;
 
       
d.
 
loss of potential income including, but not limited to, interest and dividends
           
not realized by the ASSURED or by any customer of the ASSURED;
 
       
e.
 
damages of any type for which the ASSURED is legally liable, except
           
compensatory damages, but not multiples thereof, arising from a loss
           
covered under this Bond;
 
       
f.
 
costs, fees and expenses incurred by the ASSURED in establishing the
           
existence of or amount of loss under this Bond, except to the extent covered
           
under INSURING CLAUSE 11.;
 
       
g.
 
loss resulting from indirect or consequential loss of any nature;
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 11 of 19
 


 
 

 
Conditions And
                   
Limitations
                   
 
General Exclusions -
     
h.
 
loss resulting from dishonest acts by any member of the Board of Directors
Applicable to All Insuring
         
or Board of Trustees of the ASSURED who is not an Employee, acting
Clauses
         
alone or in collusion with others;
(continued)
     
i.
 
loss, or that part of any loss, resulting solely from any violation by the
           
ASSURED or by any Employee:
           
(1)
 
of any law regulating:
               
a.
 
the issuance, purchase or sale of securities,
               
b.
 
securities transactions on security or commodity exchanges or
                   
the over the counter market,
               
c.
 
investment companies,
               
d.
 
investment advisors, or
           
(2)
 
of any rule or regulation made pursuant to any such law; or
       
j.
 
loss of confidential information, material or data;
       
k.
 
loss resulting from voice requests or instructions received over the
           
telephone, provided however, this Section 2.k. shall not apply to INSURING
           
CLAUSE 7. or 9.
             
 
 
Specific Exclusions -
 
3.
 
This Bond does not directly or indirectly cover:
Applicable To All Insuring
     
a.
 
loss caused by an Employee, provided, however, this Section 3.a. shall not
Clauses Except Insuring
         
apply to loss covered under INSURING CLAUSE 2. or 3. which results
Clause 1.
         
directly from misplacement, mysterious unexplainable disappearance, or
           
damage or destruction of Property;
       
b.
 
loss through the surrender of property away from premises of the ASSURED
           
as a result of a threat:
           
(1)
 
to do bodily harm to any natural person, except loss of Property in
               
transit in the custody of any person acting as messenger of the
               
ASSURED, provided that when such transit was initiated there was no
               
knowledge by the ASSURED of any such threat, and provided further
               
that this Section 3.b. shall not apply to INSURING CLAUSE 7., or
           
(2)
 
to do damage to the premises or Property of the ASSURED;
       
c.
 
loss resulting from payments made or withdrawals from any account
           
involving erroneous credits to such account;
       
d.
 
loss involving Items of Deposit which are not finally paid for any reason
           
provided however, that this Section 3.d. shall not apply to INSURING
           
CLAUSE 10.;
       
e.
 
loss of property while in the mail;
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 12 of 19
 


 
 

 
Conditions And
           
Limitations
           
 
 
Specific Exclusions -
     
f.
 
loss resulting from the failure for any reason of a financial or depository
Applicable To All Insuring
         
institution, its receiver or other liquidator to pay or deliver funds or other
Clauses Except Insuring
         
Property to the ASSURED provided further that this Section 3.f. shall not
Clause 1.
         
apply to loss of Property resulting directly from robbery, burglary,
(continued)
         
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.
             
 
 
Specific Exclusions -
 
4.
 
This bond does not directly or indirectly cover:
Applicable To All Insuring
     
a.
 
loss resulting from the complete or partial non-payment of or default on any
Clauses Except Insuring
         
loan whether such loan was procured in good faith or through trick, artifice,
Clauses 1., 4., And 5.
         
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.
             
 
 
Limit Of Liability/Non-
 
5.
 
At all times prior to termination of this Bond, this Bond shall continue in force for
Reduction And Non-
     
the limit stated in the applicable sections of ITEM 2. of the DECLARATIONS,
Accumulation Of Liability
     
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
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 13 of 19
 


 
 

 
Conditions And
           
Limitations
           
 
 
Limit Of Liability/Non-
     
d.
 
any one casualty or event other than those specified in a., b., or c. above,
Reduction And Non-
     
shall be deemed to be one loss and shall be limited to the applicable LIMIT OF
Accumulation Of Liability
     
LIABILITY stated in ITEM 2. of the DECLARATIONS of this Bond irrespective of
(continued)
     
the total amount of such loss or losses and shall not be cumulative in amounts
       
from year to year or from period to period.
 
       
All acts, as specified in c. above, of any one person which
 
       
i.
 
directly or indirectly aid in any way wrongful acts of any other person or
           
persons, or
 
       
ii.
 
permit the continuation of wrongful acts of any other person or persons
 
       
whether such acts are committed with or without the knowledge of the wrongful
       
acts of the person so aided, and whether such acts are committed with or without
       
the intent to aid such other person, shall be deemed to be one loss with the
       
wrongful acts of all persons so aided.
         
 
 
Discovery
 
6.
 
This Bond applies only to loss first discovered by an officer of the ASSURED
       
during the BOND PERIOD. Discovery occurs at the earlier of an officer of the
       
ASSURED being aware of:
 
       
a.
 
facts which may subsequently result in a loss of a type covered by this Bond,
           
or
 
       
b.
 
an actual or potential claim in which it is alleged that the ASSURED is liable
           
to a third party,
 
       
regardless of when the act or acts causing or contributing to such loss occurred,
       
even though the amount of loss does not exceed the applicable DEDUCTIBLE
       
AMOUNT, or the exact amount or details of loss may not then be known.
         
 
 
Notice To Company -
 
7.
 
a.
 
The ASSURED shall give the COMPANY notice thereof at the earliest
Proof - Legal Proceedings
         
practicable moment, not to exceed sixty (60) days after discovery of loss, in
Against Company
         
an amount that is in excess of 50% of the applicable DEDUCTIBLE
           
AMOUNT, as stated in ITEM 2. of the DECLARATIONS.
 
       
b.
 
The ASSURED shall furnish to the COMPANY proof of loss, duly sworn to,
           
with full particulars within six (6) months after such discovery.
 
       
c.
 
Securities listed in a proof of loss shall be identified by certificate or bond
           
numbers, if issued with them.
 
       
d.
 
Legal proceedings for the recovery of any loss under this Bond shall not be
           
brought prior to the expiration of sixty (60) days after the proof of loss is filed
           
with the COMPANY or after the expiration of twenty-four (24) months from
           
the discovery of such loss.
 
       
e.
 
This Bond affords coverage only in favor of the ASSURED. No claim, suit,
           
action or legal proceedings shall be brought under this Bond by anyone
           
other than the ASSURED.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 14 of 19
 


 
 

 
Conditions And
           
Limitations
           
 
 
Notice To Company -
     
f.
 
Proof of loss involving Voice Initiated Funds Transfer Instruction shall
Proof - Legal Proceedings
         
include electronic recordings of such instructions.
Against Company
           
(continued)
           
             
 
 
Deductible Amount
 
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.
         
 
 
Valuation
 
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.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 15 of 19
 


 
 

 
Conditions And
           
Limitations
           
(continued)
           
 
 
Securities Settlement
 
10.
 
In the event of a loss of securities covered under this Bond, the COMPANY may,
       
at its sole discretion, purchase replacement securities, tender the value of the
       
securities in money, or issue its indemnity to effect replacement securities.
 
       
The indemnity required from the ASSURED under the terms of this Section
       
against all loss, cost or expense arising from the replacement of securities by the
       
COMPANY'S indemnity shall be:
 
       
a.
 
for securities having a value less than or equal to the applicable
           
DEDUCTIBLE AMOUNT - one hundred (100%) percent;
 
       
b.
 
for securities having a value in excess of the DEDUCTIBLE AMOUNT but
           
within the applicable LIMIT OF LIABILITY - the percentage that the
           
DEDUCTIBLE AMOUNT bears to the value of the securities;
 
       
c.
 
for securities having a value greater than the applicable LIMIT OF LIABILITY
           
- the percentage that the DEDUCTIBLE AMOUNT and portion in excess of
           
the applicable LIMIT OF LIABILITY bears to the value of the securities.
 
       
The value referred to in Section 10.a., b., and c. is the value in accordance with
       
Section 9, VALUATION, regardless of the value of such securities at the time the
       
loss under the COMPANY'S indemnity is sustained.
 
       
The COMPANY is not required to issue its indemnity for any portion of a loss of
       
securities which is not covered by this Bond; however, the COMPANY may do so
       
as a courtesy to the ASSURED and at its sole discretion.
 
       
The ASSURED shall pay the proportion of the Company's premium charge for the
       
Company's indemnity as set forth in Section 10.a., b., and c. No portion of the
       
LIMIT OF LIABILITY shall be used as payment of premium for any indemnity
       
purchased by the ASSURED to obtain replacement securities.
         
 
 
Subrogation - Assignment - 11.
 
In the event of a payment under this Bond, the COMPANY shall be subrogated to
Recovery
     
all of the ASSURED'S rights of recovery against any person or entity to the extent
       
of such payment. On request, the ASSURED shall deliver to the COMPANY an
       
assignment of the ASSURED'S rights, title and interest and causes of action
       
against any person or entity to the extent of such payment.
 
       
Recoveries, whether effected by the COMPANY or by the ASSURED, shall be
       
applied net of the expense of such recovery in the following order:
 
       
a.
 
first, to the satisfaction of the ASSURED'S loss which would otherwise have
           
been paid but for the fact that it is in excess of the applicable LIMIT OF
           
LIABILITY,
 
       
b.
 
second, to the COMPANY in satisfaction of amounts paid in settlement of
           
the ASSURED'S claim,
 
       
c.
 
third, to the ASSURED in satisfaction of the applicable DEDUCTIBLE
           
AMOUNT, and
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 16 of 19
 


 
 

 
Conditions And
           
Limitations
           
 
 
Subrogation - Assignment -
     
d.
 
fourth, to the ASSURED in satisfaction of any loss suffered by the
Recovery
         
ASSURED which was not covered under this Bond.
(continued)
     
Recovery from reinsurance or indemnity of the COMPANY shall not be deemed a
       
recovery under this section.
         
 
 
Cooperation Of Assured
 
12.
 
At the COMPANY'S request and at reasonable times and places designated by
       
the COMPANY, the ASSURED shall:
 
       
a.
 
submit to examination by the COMPANY and subscribe to the same under
           
oath,
 
       
b.
 
produce for the COMPANY'S examination all pertinent records, and
 
       
c.
 
cooperate with the COMPANY in all matters pertaining to the loss.
 
       
The ASSURED shall execute all papers and render assistance to secure to the
       
COMPANY the rights and causes of action provided for under this Bond. The
       
ASSURED shall do nothing after loss to prejudice such rights or causes of action.
         
 
 
Termination
 
13.
 
If the Bond is for a sole ASSURED, it shall not be terminated unless written notice
       
shall have been given by the acting party to the affected party and to the
       
Securities and Exchange Commission, Washington, D.C., not less than sixty (60)
       
days prior to the effective date of such termination.
 
       
If the Bond is for a joint ASSURED, it shall not be terminated unless written notice
       
shall have been given by the acting party to the affected party, and by the
       
COMPANY to all ASSURED Investment Companies and to the Securities and
       
Exchange Commission, Washington, D.C., not less than sixty (60) days prior to
       
the effective date of such termination.
 
       
This Bond will terminate as to any one ASSURED, other than an Investment
       
Company:
 
       
a.
 
immediately on the taking over of such ASSURED by a receiver or other
           
liquidator or by State or Federal officials, or
 
       
b.
 
immediately on the filing of a petition under any State or Federal statute
           
relative to bankruptcy or reorganization of the ASSURED, or assignment for
           
the benefit of creditors of the ASSURED, or
 
       
c.
 
immediately upon such ASSURED ceasing to exist, whether through merger
           
into another entity, disposition of all of its assets or otherwise.
 
       
The COMPANY shall refund the unearned premium computed at short rates in
       
accordance with the standard short rate cancellation tables if terminated by the
       
ASSURED or pro rata if terminated for any other reason.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 17 of 19
 


 
 

 
Conditions And
           
Limitations
           
 
 
Termination
     
If any partner, director, trustee, or officer or supervisory employee of an
(continued)
     
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.
         
 
 
Other Insurance
 
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.
             
 
 
Conformity
 
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.
         
 
 
Change or Modification
 
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.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 18 of 19
 

 

 

 
Conditions And
   
Limitations
   
 
 
Change or Modification
 
If this Bond is for a joint ASSURED, no charge or modification which would
(continued)
 
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.
 

 
ICAP Bond (5-98)
 
Form 17-02-1421 (Ed. 5-98)
Page 19 of 19
 


 
 
 
 
NAME OF ASSURED: BLACKROCK EQUITY/LIQUIDITY COMPLEX
   
     
 
 
 
AMEND NAME OF ASSURED ENDORSEMENT
   
 
It is agreed that NAME OF ASSURED of the DECLARATIONS for this Bond is amended to include the following:
 
   
 
BlackRock Global Emerging Markets Fund, Inc. (f/k/a BlackRock Developing Capital Markets Fund, Inc.)
BlackRock Financial Institutions Series Trust
   
BlackRock Funds
   
Global Financial Services Master LLC
   
BlackRock Global Financial Services Fund, Inc.
   
BlackRock Healthcare Fund, Inc.
   
Quantitative Master Series LLC
   
BlackRock Index Funds, Inc.
   
BlackRock Master LLC
   
BlackRock Series, Inc.
   
Master Large Cap Series LLC
   
BlackRock Large Cap Series Funds, Inc.
   
BlackRock Latin America Fund, Inc.
   
BlackRock Liquidity Funds
   
BlackRock Pacific Fund, Inc.
   
BlackRock Technology Fund, Inc. (formerly Global Technology)
   
CMA Multi-State Municipal Series Trust
   
Master Government Securities LLC
   
CMA Government Securities Fund
   
WCMA Government Securities Fund
   
Master Money LLC
   
CMA Money Fund
   
WCMA Money Fund
   
Master Tax-Exempt LLC
   
CMA Tax-Exempt Fund
   
WCMA Tax-Exempt Fund
   
Master Treasury LLC
   
CMA Treasury Fund
   
WCMA Treasury Fund
   
Merrill Lynch Institutional Money Market LLC
   
Merrill Lynch Funds for Institutions Series
   
Merrill Lynch Ready Assets Trust
   
Merrill Lynch Retirement Series Trust
   
Merrill Lynch U.S. Treasury Money Fund
   
Merrill Lynch U.S.A. Government Reserves
   
 

 
ICAP Bond
 
Form 17-02-6272 (Ed. 8-04)
Page 1
 

 

 

 
This Endorsement applies to loss discovered after 12:01 a.m. on November 1, 2008.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
 
Date: December 5, 2008
 
 
     
 
ICAP Bond
 
Form 17-02-6272 (Ed. 8-04)
Page 2
 

 

 
 
 
NAME OF ASSURED:
 
BLACKROCK EQUITY/LIQUIDITY COMPLEX
   
         
 
           
TELEFACSIMILE INSTRUCTION FRAUD ENDORSEMENT
 
It is agreed that this Bond is amended as follows:
   
 
1.
 
By adding the following INSURING CLAUSE:
   
 
   
12.
 
Telefacsimile Instruction
   
 
       
Loss resulting directly from the ASSURED having transferred, paid or delivered any
       
funds or other Property or established any credit, debited any account or given any
       
value on the faith of any fraudulent instructions sent by a Customer, financial institution
       
or another office of the ASSURED by Telefacsimile directly to the ASSURED authorizing
       
or acknowledging the transfer, payment or delivery of funds or Property or the
       
establishment of a credit or the debiting of an account or the giving of value by the
       
ASSURED where such Telefacsimile instructions:
   
 
       
a.
 
bear a valid test key exchanged between the ASSURED and a Customer or
           
another financial institution with authority to use such test key for Telefacsimile
           
instructions in the ordinary course of business, but which test key has been
           
wrongfully obtained by a person who was not authorized to initiate, make,
           
validate or authenticate a test key arrangement, and
 
       
b.
 
fraudulently purport to have been sent by such Customer or financial institution
           
when such Telefacsimile instructions were transmitted without the knowledge
           
or consent of such Customer or financial institution by a person other than such
           
Customer or financial institution and which bear a Forgery of a signature,
           
provided that the Telefacsimile instruction was verified by a direct call back to
           
an employee of the financial institution, or a person thought by the ASSURED to
           
be the Customer, or an employee of another financial institution.
 
2.
 
By deleting from Section 1., Definitions, the definition of Customer in its entirety, and substituting
   
the following:
       
 
   
d.
 
Customer means an individual, corporate, partnership, trust customer, shareholder or
       
subscriber of an Investment Company which has a written agreement with the ASSURED
       
for Voice Initiated Funds Transfer Instruction or Telefacsimile Instruction.
 

 
ICAP Bond
 
Form 17-02-2367 (Rev. 10-03)
Page 1
 

 

 

 
3.
 
By adding to Section 1., Definitions, the following:
 
   
r.
 
Telefacsimile means a system of transmitting written documents by electronic signals
       
over telephone lines to equipment maintained by the ASSURED for the purpose of
       
reproducing a copy of said document. Telefacsimile does not mean electronic
       
communication sent by Telex or similar means of communication, or through an
       
electronic communication system or through an automated clearing house.
 
4.
 
By adding to Section 3., Specific Exclusions Applicable to All Insuring Clauses Except Insuring
   
Clause 1. the following:
 
   
j.
 
loss resulting directly or indirectly from Telefacsimile instructions provided, however, this
       
exclusion shall not apply to this INSURING CLAUSE.
 
 
 
 
This Endorsement applies to loss discovered after 12:01 a.m. on November 1, 2008.
 
 
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
 
Date: December 5, 2008
 
 
 
 
ICAP Bond
 
Form 17-02-2367 (Rev. 10-03)
Page 2
 


 
 
It is agreed that this Bond is amended as follows:
   
1.
 
By adding to Section 13, Termination, the following:
   
   
Bonds In Effect Sixty (60) Days Or Less
   
   
If this Bond has been in effect for less than sixty (60) days and if it is not a renewal Bond, the
   
COMPANY may terminate it for any reason by mailing or delivering to the ASSURED and to the
   
authorized agent or broker, if any, written notice of termination at least sixty (60) days before the
   
effective date of termination.
   
   
Bonds In Effect More Than Sixty (60) Days
   
   
If this Bond has been in effect for sixty (60) days or more, or if it is a renewal of a Bond issued by the
   
COMPANY, it may be terminated by the COMPANY by mailing or delivering to the ASSURED and to
   
the authorized agent or broker, if any, written notice of termination at least sixty (60) days before the
   
effective date of termination. Furthermore, when the Bond is a renewal or has been in effect for sixty
   
(60) days or more, the COMPANY may terminate only for one or more of the reasons stated in 1-7
   
below.
   
   
1.
 
Nonpayment of premium;
   
   
2.
 
Conviction of a crime arising out of acts increasing the hazard insured against ;
   
3.
 
Discovery of fraud or material misrepresentation in the obtaining of this Bond or in the
       
presentation of a claim thereunder;
   
   
4.
 
Violation of any provision of this Bond that substantially and materially increases the hazard
       
insured against, and which occurred subsequent to inception of the current BOND PERIOD;
   
5.
 
If applicable, material physical change in the property insured, occurring after issuance or last
       
annual renewal anniversary date of this Bond, which results in the property becoming uninsurable
       
in accordance with the COMPANY's objective, uniformly applied underwriting standards in effect
       
at the time this Bond was issued or last renewed; or material change in the nature or extent of this
       
Bond occurring after issuance or last annual renewal anniversary date of this Bond, which causes
       
the risk of loss to be substantially and materially increased beyond that contemplated at the time
       
this Bond was issued or last renewed;
   
 

 
ICAP Bond - New York
 
Form 17-02-2863 (Rev. 7-03)
Page 1
 


 
 

 
   
6.
 
A determination by the Superintendent of Insurance that continuation of the present premium
       
volume of the COMPANY would jeopardize the COMPANY's policyholders, creditors or the public,
       
or continuing the Bond itself would place the COMPANY in violation of any provision of the New
       
York Insurance Code; or
   
7.
 
Where the COMPANY has reason to believe, in good faith and with sufficient cause, that there is
       
a probable risk or danger that the Property will be destroyed by the ASSURED for the purpose of
       
collecting the insurance proceeds.
   
Notice Of Termination
   
Notice of termination under this SECTION shall be mailed to the ASSURED and to the authorized agent
   
or broker, if any, at the address shown on the DECLARATIONS of this Bond. The COMPANY,
   
however, may deliver any notice instead of mailing it.
   
Return Premium Calculations
   
The COMPANY shall refund the unearned premium computed pro rata if this Bond is terminated by the
   
COMPANY."
2.
 
By adding a new Section reading as follows:
   
"Section 17. Election To Conditionally Renew / Nonrenew This Bond
   
Conditional Renewal
   
If the COMPANY conditionally renews this Bond subject to:
   
1.
 
Change of limits of liability ;
   
2.
 
Change in type of coverage;
   
3.
 
Reduction of coverage;
   
4.
 
Increased deductible;
   
5.
 
Addition of exclusion; or
   
6.
 
Increased premiums in excess of 10%, exclusive of any premium increase due to and
       
commensurate with insured value added; or as a result of experience rating, retrospective rating
       
or audit; the COMPANY shall send notice as provided in Notices Of Nonrenewal And Conditional
       
Renewal immediately below.
   
Notices Of Nonrenewal And Conditional Renewal
   
1.
 
If the COMPANY elects not to renew this Bond, or to conditionally renew this Bond as provided
       
herein, the COMPANY shall mail or deliver written notice to the ASSURED at least sixty (60) but
       
not more than one hundred twenty (120) days before:
       
a.
 
The expiration date; or
       
b.
 
The anniversary date if this Bond has been written for a term of more than one year.
 

 
ICAP Bond - New York
 
Form 17-02-2863 (Rev. 7-03)
Page 2
 

 
 


 
   
2.
 
Notice shall be mailed or delivered to the ASSURED at the address shown on the
       
DECLARATIONS of this Bond and the authorized agent or broker, if any. If notice is mailed, proof
       
of mailing shall be sufficient proof of notice.
   
3.
 
Paragraphs 1. and 2. immediately above shall not apply when the ASSURED, authorized agent or
       
broker, or another insurer has mailed or delivered written notice to the COMPANY that the Bond
       
has been replaced or is no longer desired.
3.
 
By adding to General Agreement B., Representations Made By Assured, the following:
   
No misrepresentation shall be deemed material unless knowledge by the COMPANY would have lead
   
to the COMPANY'S refusal to write this Bond.
 
 
 
 
This Endorsement applies to loss discovered after 12:01 a.m. on November 1, 2008.
 
 
 
 
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
 
Date: December 5, 2008
 
 
 
 
 
ICAP Bond - New York
 
Form 17-02-2863 (Rev. 7-03)
Page 3
 

 

 
 
ENDORSEMENT/RIDER
 
 
Issued to: BLACKROCK EQUITY/LIQUIDITY COMPLEX
   
     
   
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:
1.
 
The paragraph titled Other Property in Section 9, Valuation, is deleted in its entirety.
2.
 
The third paragraph in Section 16, Change or Modification, is deleted in its entirety and replaced
   
with the following:
       
   
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.
   
 
 
 
 
 
17-02-2437 (12/2006) rev.
 
Page 1
 

 

 
Issued to: BLACKROCK EQUITY/LIQUIDITY COMPLEX
   
     
 
 
AMEND SECTION 16 - CHANGE OR MODIFICATION ENDORSEMENT
In consideration of the premium charged, it is agreed that Section 16, Change or Modification, the first and
second full paragraphs are deleted and replaced with the following:
   
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 affected
party and the Securities and Exchange Commission, Washington, D.C., by the acting party.
 
 
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.
 
 
 
 
 
 
 
 
Q06-246 (02/2008) rev.
 
 
Page 1
 
 


 
Issued to: BLACKROCK EQUITY/LIQUIDITY COMPLEX
   
     
COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS RIDER
It is agreed that this insurance does not apply to the extent that trade or economic sanctions or other laws
or regulations prohibit the coverage provided by this insurance.
 
 
 
 
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
 
Date: December 5, 2008
 
 
 
 
Form 14-02-9228 (Ed. 4/2004)
 
 


 
NAME OF ASSURED: BLACKROCK EQUITY/LIQUIDITY COMPLEX
   
     
 
       
CO-SURETY ENDORSEMENT
   
 
It is agreed that this Bond is amended as follows:
   
1.
 
By adding to Section 1., Definitions, the following:
   
   
“s.
 
Controlling Company means VIGILANT INSURANCE COMPANY.
   
   
t.
 
Company means, unless otherwise specified, each insurance company, including the
       
Controlling Company, executing this Endorsement.
   
   
u.
 
Companies means, unless otherwise specified, all of the insurance companies, including the
       
Controlling Company, executing this Endorsement.”
   
2.
 
By adding to Section 5., Limit of Liability/Non-Reduction and Non-Accumulation of Liability, the following:
   
“Each COMPANY shall be liable only for such proportion of any Single Loss as the LIMIT OF
   
LIABILITY underwritten by such Company, as specified in this Endorsement, bears to the LIMIT OF
   
LIABILITY as stated in ITEM 2. of the DECLARATIONS, but in no event shall any Company be liable
   
for an amount greater than that underwritten by it.”
   
3.
 
By adding to Section 7., Notice To Company-Proof-Legal Proceedings Against Company, the following:
   
“g.
 
In the absence of a request from any Company to pay premiums directly to it, premiums for this
       
Bond may be paid to the Controlling Company for the account of all Companies.
   
h.
 
In the absence of a request from any Company that notice of claim and proof of loss be given to
       
or filed directly with it, the ASSURED giving such notice to and the filing of such proof with the
       
Controlling Company shall be deemed to be in compliance with the conditions of this Bond for
       
the giving of notice of loss and the filing of proof of loss, if given and filed in accordance with said
       
conditions.”
   
4.
 
By adding to Section 13., Termination, the following:
   
   
“The Controlling Company may give notice in accordance with the terms of this Bond terminating the
   
Bond as an entirety or as to any Employee or ASSURED, and any notice so given shall terminate the
   
liability of all Companies as an entirety or as to such Employee or ASSURED, as the case may be.
   
Any Company other than the Controlling Company may give notice in accordance with the terms of
   
this Bond, terminating the entire liability of such other Company under this Bond or as to any person or
   
entity.
   
   
In the absence of a request from any Company that notice of termination by the ASSURED of this Bond
   
in its entirety may be given to or filed directly with it, the giving of such notice in accordance with the
   
terms of this Bond to the Controlling Company shall terminate the liability of all Companies as an
   
entirety. The ASSURED may terminate the entire liability of any Company, under this Bond by giving
   
notice of such termination to that Company and by sending a copy of such notice to the Controlling
   
Company.
   
 

 
ICAP Bond
 
Form 17-02-2836 (Ed. 5-02)
Page 1
 


 
 

 
   
In the event of the termination of this Bond as an entirety, no Company shall be liable to the ASSURED
   
for a greater proportion of any return premium due the ASSURED than the LIMIT OF LIABILITY
   
underwritten by that Company bears to the LIMIT OF LIABILITY as stated in ITEM 2. of the
   
DECLARATIONS.
   
In the event of the termination of this Bond as to any Company, such Company alone shall be liable to
   
the ASSURED for any return premium due the ASSURED on account of such termination. The
   
termination of the attached Bond as to any Company other than the Controlling Company shall not
   
terminate or otherwise affect the liability of the other Companies under this Bond.”
5.
 
By adding the following Section:
   
“Section 18.
 
Controlling Company
   
The execution by the Controlling Company of the DECLARATIONS, Endorsements 1-6, shall
   
constitute execution by all the Companies signing this Endorsement.
   
In the event this Bond is modified during the BOND PERIOD, the Controlling Company shall notify the
   
Companies or their respective representatives, in writing, of such change. Each Company shall be
   
deemed to agree to such modification, unless such Company notifies the Controlling Company or the
   
Controlling Company’s representative in writing, that they do not agree to such modification. If a
   
Company fails to object to a modification within fifteen (15) days of receipt of notice from the
   
Controlling Company, such Company shall be deemed to agree to such modification.”
This Endorsement applies to loss discovered after 12:01 a.m. on November 1, 2008.
 
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
 
 
 
 
Underwritten for a SINGLE LOSS LIMIT OF LIABILITY of $25,000,000
National Union Fire Insurance Company of Pittsburgh, PA
 
 
 
By
 
Attorney-in-Fact
 
Underwritten for a SINGLE LOSS LIMIT OF LIABILITY of $10,000,000
St. Paul Mercury Insurance Company
 
 
By
 
Attorney-in-Fact
 
Underwritten for a SINGLE LOSS LIMIT OF LIABILITY of $3,600,000
Continental Casualty Company
 
 
By
 
Attorney-in-Fact
 
 
 
ICAP Bond
 
Form 17-02-2836 (Ed. 5-02)
Page 2
 

 

 

POLICYHOLDER
DISCLOSURE NOTICE OF
TERRORISM INSURANCE COVERAGE
(for policies with no terrorism exclusion or sublimit)
 
 
You are hereby notified that, under the Terrorism Risk Insurance Act (the “Act”), effective December 26, 2007, 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, in concurrence with the Secretary of State and the Attorney General 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.
 
However, if aggregate insured losses attributable to terrorist acts certified under the Act exceed $100 billion in a Program Year (January 1 through December 31), the Treasury shall not make any payment for any portion of the amount of such losses that exceeds $100 billion.
 
 
 
 
10-02-1281 (Ed. 1/2003)
 
 


 
 
If aggregate insured losses attributable to terrorist acts certified under the Act exceed $100 billion in a Program Year (January 1 through December 31) 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.
 
 
10-02-1281 (Ed. 1/2003)
 
 


 
 
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.
 
 
 
10-02-1295 (ed. 6/2007)
 
 


 
 
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.
 
 
Form 14-02-12160 (ed. 7/2006)
 
 

 

 
 

 

 
VIGILANT INSURANCE COMPANY
Endorsement No.:              8
Bond Number:             82126650
 
 
NAME OF ASSURED: BLACKROCK EQUITY-LIQUIDITY COMPLEX
 
 
DELETE AN ENDORSEMENT
 
It is agreed that this Bond is amended by deleting Endorsement Number(s) 1 in its entirety.
 
 
This Endorsement applies to loss discovered after 12:01 a.m. on November 1, 2008.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
 
Date: November 9, 2009
 
 
 
 
 
 
 
 
ICAP Bond
 
 
Form 17-02-5647 (Ed. 11-03)
 
 

 
 
NAME OF ASSURED: BLACKROCK EQUITY-LIQUIDITY COMPLEX
 
 
 
 
AMEND NAME OF ASSURED ENDORSEMENT
 
 
It is agreed that NAME OF ASSURED of the DECLARATIONS for this Bond is amended to include the following:
 
 
 
BlackRock Global Emerging Markets Fund, Inc. (f/k/a BlackRock Developing Capital Markets Fund, Inc.)
BlackRock Financial Institutions Series Trust
 
BlackRock Funds
 
Global Financial Services Master LLC
 
BlackRock Global Financial Services Fund, Inc.
 
BlackRock Healthcare Fund, Inc.
 
Quantitative Master Series LLC
 
BlackRock Index Funds, Inc.
 
BlackRock Master LLC
 
BlackRock Series, Inc.
 
Master Large Cap Series LLC
 
BlackRock Large Cap Series Funds, Inc.
 
BlackRock Latin America Fund, Inc.
 
BlackRock Liquidity Funds
 
BlackRock Pacific Fund, Inc.
 
BlackRock Technology Fund, Inc. (formerly Global Technology)
 
CMA Multi-State Municipal Series Trust
 
Master Government Securities LLC
 
CMA Government Securities Fund
 
WCMA Government Securities Fund
 
Master Money LLC
 
CMA Money Fund
 
WCMA Money Fund
 
Master Tax-Exempt LLC
 
CMA Tax-Exempt Fund
 
WCMA Tax-Exempt Fund
 
Master Treasury LLC
 
CMA Treasury Fund
 
WCMA Treasury Fund
 
Master Institutional Money Market LLC
 
Funds for Institutions Series
 
Ready Assets Prime Money Fund
 
Retirement Series Trust
 
U.S. Treasury Money Fund
 
Ready Assets U.S.A. Government Money Fund
 
 

 
   
ICAP Bond
 
Form 17-02-6272 (Ed. 8-04)
Page 1
 


 
 

 
 
This Endorsement applies to loss discovered after 12:01 a.m. on November 1, 2008.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
 
Date: November 9, 2009
 
 
 
 
 
   
ICAP Bond
 
Form 17-02-6272 (Ed. 8-04)
Page 2
7157333  
 
 

 

 
JOINT FIDELITY BOND AGREEMENT BY AND AMONG
THE FUNDS IN THE BLACKROCK EQUITY-LIQUIDITY COMPLEX

JOINT FIDELITY BOND AGREEMENT (the “Agreement”), dated as of November 1, 2007, by and among the funds (each, a “Fund” and collectively, the “Funds”) in the BlackRock Equity-Liquidity Complex listed on Schedule A attached hereto, as the same may be amended from time to time, all of which are named insureds on a certain fidelity bond underwritten by Vigilant Insurance Company (“Vigilant”), a member of the Chubb Group of Insurance Companies, covering certain acts relating to the Funds (the “Bond”).

WIT NESSETH

WHEREAS, each of the Funds is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”);

WHEREAS, by the terms of Rule 17g-1 under the 1940 Act, the Funds are required to provide and to maintain in effect a bond against larceny and embezzlement by their officers and employees.  By the terms of the rule, the Funds are authorized to secure the Bond that names all of the Funds as insureds;

WHEREAS, Rule 17g-1(f) under the 1940 Act requires that a registered management investment company named as an insured on a joint fidelity bond enter into a certain agreement with the other named insureds;

WHEREAS, a majority of the Board of Directors/Trustees (collectively, the “Board,” the members of which are referred to as “Directors”) of each Fund who are not “interested persons” as defined in Section 2(a)(19) of the 1940 Act have given due consideration to all factors relevant to the form, amount and ratable allocation of premiums of such Bond, and the majority of such Directors have approved the amount, type, form and coverage of the Bond and the portion of the premium payable with respect to each Fund; and

WHEREAS, the Board has determined that the allocation of the proceeds payable under the Bond as set forth herein (which takes into account the extent to which the share of the premium allocated to each Fund is less than the premium the Fund would have had to pay if it had provided and maintained a single insured bond) is equitable with respect to each Fund and that each Fund will benefit from its respective participation in the Bond in compliance with this Rule.

NOW, THEREFORE, in consideration of the mutual premises and covenants herein contained and other good and valuable consideration, the receipt of which is hereby acknowledged, it is agreed by and between the Funds hereto as follows:

1.           Joint Insured Bond.  The Funds have procured from Vigilant, a reputable fidelity insurance company, the Bond insuring each Fund against larceny and embezzlement of its securities and funds by such of its officers and employees who may, singly or jointly with others,
 

 
 
have access to such securities or funds, directly or through authority to draw upon such funds or to direct generally the disposition of such securities.  The Bond names each Fund as an insured, and complies with the requirements established by Rule 17g-1 under the 1940 Act.


2.           Amount.  The Bond is in an amount based upon the total assets of each Fund, equal to or in excess of the aggregate of the minimum coverage required for each of the Funds under Rule 17g-1.  The minimum coverage required for a Fund under Rule 17g-1(d)(1) shall be referred to herein as the “Minimum Coverage Amount”.

3.           Ratable Allocation of Premium.  Each Fund will pay the percentage of the premium due under the Bond which is proportionate to the ratio of its Minimum Coverage Amount to the aggregate amount of the Minimum Coverage Amounts for all of the Funds.

4.           Ratable Allocation of Proceeds.

(a)  In the event any recovery under the Bond is received as a result of a loss sustained by any of the Funds, then each Fund sustaining such loss shall receive an equitable and proportionate share of the recovery, said proportion to be established by the ratio that the claim bears to the total amount claimed by all participants, but at least equal to the amount which each such Fund would have received had it provided and maintained a single insured bond with the Minimum Coverage Amount.

(b)  If the recovery is inadequate to indemnify fully each such Fund sustaining a loss, the recovery shall be allocated among such Funds as follows:

(i)  Each Fund sustaining a loss shall be allocated an amount equal to the lesser of its actual loss or the Minimum Coverage Amount.

(ii) The remaining portion of the proceeds shall be allocated to each Fund sustaining a loss not fully covered by the allocation under subparagraph (i) in the proportion that each such Fund’s gross assets as of the end of its fiscal quarter preceding the loss bears to the sum of the gross assets of all such Funds.  If such allocation would result in any Fund sustaining a loss receiving a portion of the recovery in excess of the loss actually sustained by such Fund, the aggregate of such excess portions shall be allocated among the other Funds whose losses would not be fully indemnified in the same proportion as each such Fund’s gross assets bear to the sum of the gross assets of all Funds entitled to receive a share of the excess (both determined as of the fiscal quarter of each Fund preceding the loss).  Any allocation in excess of a loss actually sustained by any such Fund shall be reallocated in the same manner.

5.           Claims and Settlements. Each Fund shall, within ten days after the making of any claim under the Bond, provide the other Funds with written notice of the amount and nature of such claim.  Each Fund shall, within ten days after the receipt thereof, provide the other Funds with written notice of the terms of settlement of any claim made under the Bond by such Fund.

2

6.           Modification and Amendments.

(a)  If a Fund shall determine that the coverage required by Rule 17g-1 for such Fund has changed, or that the amount of the total coverage allocated to such Fund should otherwise be modified, it shall so notify the other Funds setting forth the modification which it believes to be appropriate, and the proposed treatment of any increased or return premium.

(b)  Within 60 days after such notice, the Funds shall seek the approval required by Rule 17g-1, and if approvals are obtained, shall effect an amendment to this Agreement and the Bond.  Any Fund may terminate this Agreement (except with respect to losses occurring prior to such withdrawal) by giving at least 60 days’ written notice to the other Funds.  The Fund(s) terminating the Agreement shall thereafter be removed as a named insured in accordance with Rule 17g-1 and the Fund(s) shall be entitled to receive the  pro rata portion of any return of premium paid to the insurance company.

(c)  This Agreement is intended to cover all entities insured under the Bond.  Any insured under the Bond that is not currently listed on Schedule A hereto may be added to this Agreement by a written amendment.  The Funds hereby consent to additional registered investment companies advised by BlackRock Advisors, LLC and its affiliates being named as an insured under the Bond and the Agreement.

7.           Limitation of Liability for Massachusetts business trusts. The Declaration of Trust for each Fund listed on Schedule A hereto that is organized as a Massachusetts business trust (each, a “Massachusetts Trust”) is on file with the Secretary of the Commonwealth of Massachusetts. This Agreement is executed on behalf of such Massachusetts Trusts by the Trust’s Chief Executive Officer and not individually and the obligations imposed upon each Massachusetts Trust by this Agreement are not binding upon any of the Massachusetts Trust’s respective Board members, officers or shareholders individually but are binding only upon the assets and property of such Massachusetts Trust.

 
8.
No Assignment.  This Agreement is not assignable.

 
9.
Counterparts.  This Agreement may be executed in any number of counterparts
 
which together shall constitute a single instrument.

10.           Governing Law.  The Agreement shall be construed in accordance with the laws of the State of New York.

11.           Notices.  All Notices and other communications hereunder shall be in writing and shall be addressed to the appropriate Fund at 40 East 52nd Street, New York, New York 10022.

3

IN WITNESS WHEREOF, each Fund has caused the foregoing instrument to be executed by their duly authorized officers, all as of the day and the year first above written.

     
       
 
/s/ Donald C. Burke         
  Name: Donald C. Burke  
  Title: Chief Executive Officer of each Fund listed on Schedule A  
       

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4



SCHEDULE A


BlackRock Financial Institutions Series Trust
BlackRock Summit Cash Reserves Fund
BlackRock FundsSM
BlackRock All-Cap Global Resources Portfolio
BlackRock Asset Allocation Portfolio
BlackRock Aurora Portfolio
BlackRock Capital Appreciation Portfolio
BlackRock Exchange Portfolio
BlackRock Global Opportunities Portfolio
BlackRock Global Resources Portfolio
BlackRock Global Science & Technology Opportunities Portfolio
BlackRock Health Sciences Opportunities Portfolio
BlackRock Index Equity Portfolio
BlackRock International Opportunities Portfolio
BlackRock Mid-Cap Growth Equity Portfolio
BlackRock Mid-Cap Value Equity Portfolio
BlackRock Money Market Portfolio
BlackRock Municipal Money Market Portfolio
BlackRock New Jersey Municipal Money Market Portfolio
BlackRock North Carolina Municipal Money Market Portfolio
BlackRock Ohio Municipal Money Market Portfolio
BlackRock Pennsylvania Municipal Money Market Portfolio
BlackRock Small Cap Core Equity Portfolio
BlackRock Small Cap Growth Equity Portfolio
BlackRock Small Cap Value Equity Portfolio
BlackRock Small/Mid-Cap Growth Portfolio
BlackRock U.S. Opportunities Portfolio
BlackRock U.S. Treasury Money Market Portfolio
BlackRock Virginia Municipal Money Market Portfolio
BlackRock Global Emerging Markets Fund, Inc.
BlackRock Global Financial Services Fund, Inc.
BlackRock Healthcare Fund, Inc.
BlackRock Index Funds, Inc.
International Index Fund
S&P 500 Index Fund
Small Cap Index Fund
BlackRock Large Cap Series Funds, Inc.
BlackRock Large Cap Core Fund
BlackRock Large Cap Core Plus Fund
BlackRock Large Cap Core Retirement Portfolio
 
 
5

 
BlackRock Large Cap Growth Fund
BlackRock Large Cap Growth Retirement Portfolio
BlackRock Large Cap Value Fund
BlackRock Large Cap Value Retirement Portfolio
BlackRock Latin America Fund, Inc.
BlackRock Liquidity Funds
California Money Fund
Federal Trust Fund
FedFund
MuniCash
MuniFund
New York Money Fund
TempCash
TempFund
T-Fund
Treasury Trust Fund
BlackRock Master LLC
BlackRock Master International Portfolio
BlackRock Master Small Cap Growth Portfolio
BlackRock Pacific Fund, Inc.
BlackRock Series, Inc.
BlackRock International Fund
BlackRock Small Cap Growth Fund II
BlackRock Technology Fund, Inc.
CMA Government Securities Fund
CMA Money Fund
CMA Multi-State Municipal Series Trust
CMA Arizona Municipal Money Fund
CMA California Municipal Money Fund
CMA Connecticut Municipal Money Fund
CMA Florida Municipal Money Fund
CMA Massachusetts Municipal Money Fund
CMA Michigan Municipal Money Fund
CMA New Jersey Municipal Money Fund
CMA New York Municipal Money Fund
CMA North Carolina Municipal Money Fund
CMA Ohio Municipal Money Fund
CMA Pennsylvania Municipal Money Fund
CMA Tax-Exempt Fund
CMA Treasury Fund
Global Financial Services Master LLC
Master Government Securities LLC
Master Institutional Money Market LLC
ML Government Portfolio
ML Institutional Portfolio
ML Institutional Tax-Exempt Portfolio
ML Premier Institutional Portfolio
ML Treasury Portfolio
 
 
6

 
Master Large Cap Series LLC
Master Large Cap Core Portfolio
Master Large Cap Growth Portfolio
Master Large Cap Value Portfolio
Master Money LLC
Master Tax-Exempt LLC
Master Treasury LLC
Merrill Lynch Funds for Institutions Series
Merrill Lynch Government Fund
Merrill Lynch Institutional Fund
Merrill Lynch Institutional Tax-Exempt Fund
Merrill Lynch Premier Institutional Fund
Merrill Lynch Select Institutional Fund
Merrill Lynch Treasury Fund
Merrill Lynch Ready Assets Trust
Merrill Lynch Retirement Series Trust
Merrill Lynch Retirement Reserves Money Fund
Merrill Lynch U.S. Treasury Money Fund
Merrill Lynch U.S.A. Government Reserves
Quantitative Master Series LLC
Master Core Bond Enhanced Index Series
Master Enhanced International Series
Master Enhanced S&P 500 Series
Master Enhanced Small Cap Series
Master Extended Market Index Series
Master International Index Series
Master Mid Cap Index Series
Master S&P 500 Index Series
Master Small Cap Index Series
WCMA Government Securities Fund
WCMA Money Fund
WCMA Tax-Exempt Fund
WCMA Treasury Fund

 
 
 
 
 
7

 
ASSISTANT SECRETARY’S CERTIFICATE
 
 
I, Edward Baer, the duly elected and acting Assistant Secretary of each of the funds listed on Schedule A hereto (each, a “Fund” and collectively, the “Funds”), hereby certify as follows:
 
A.            The following resolutions regarding the Funds’ fidelity bond were duly adopted by the Board of Directors/Trustees of each Fund on September 9, 2008, are in full force and effect and have been so since such date.
 
RESOLVED, that the terms and amount of the extension of the joint insured fidelity bond to be obtained from Vigilant Insurance Company, National Union Fire Insurance Company of Pittsburgh, PA, St. Paul Mercury Insurance Company, Liberty Insurance Underwriters Inc. and Twin City Fire Insurance Company (collectively, the “Insurance Provider”) covering registered investment companies advised or managed by BlackRock Advisors, LLC, with an approximate allocation to each Fund as presented in the Board materials, be, and they hereby are, approved in substantially the form presented at the Meetings with such changes as counsel deems necessary;
 
FURTHER RESOLVED, that the proper officers of each Fund are authorized to pay the amount of the total premium allocated to the Fund for the period payable with respect to such bond as described in the Joint Fidelity Bond Agreement and outlined in the Joint Fidelity Bond Agreement previously approved by the Boards;
 
FURTHER RESOLVED, that the amount of the fidelity bond coverage is approved after consideration of all factors deemed relevant by the Board, including, but not limited to, the other parties named as insureds, the nature of the business activities of such other parties, the amount of the joint insured bond, the amount of the premium for such bond, the ratable allocation of the premium among the parties named as insured, the extent to which the share of the premium allocated to each Fund is less than the premium the Fund would have had to pay if it had provided and maintained a single insured bond, the value of the assets of the Fund, the type and terms of the arrangements made for custody of the Fund’s assets, and the nature of the securities in the Fund’s portfolio;
 
FURTHER RESOLVED, that the Directors/Trustees determined that the benefits of obtaining fidelity bond coverage from the Insurance Provider including the opportunity to obtain stable, low-cost insurance coverage from the Insurance Provider, justify paying the Reserve Premium and making the commitments for additional payments to Insurance Provider, including acceptance of restrictions upon the withdrawal of the Reserve Premium;
 
FURTHER RESOLVED, that the proper officers of each Fund be, and each hereby is, authorized and directed to execute such other documents and take such other action as may be deemed necessary or desirable to effect the Fund’s purchase of a fidelity bond from the Insurance Provider including but not limited to executing a signature commitment to the Insurance Provider and obtaining a Letter of Credit from State Street Bank and Trust Company;
 

FURTHER RESOLVED, that the form of Joint Insured Fidelity Bond Agreement between the Funds and the other named joint insureds, in substantially the form as previously provided to the Directors, is approved with such further changes therein as an officer of a Fund may deem necessary or advisable with the advice of counsel, such officers’ execution of the Agreement to be conclusive evidence of this determination;
 
FURTHER RESOLVED, that an officer of each Fund is authorized to execute and deliver such Agreement on behalf of the Fund;
 
FURTHER RESOLVED, that the fidelity bond premiums paid by each Fund pursuant to Rule 17g-1 under the Investment Company Act of 1940, as amended (the “1940 Act”), shall be reallocated from time to time to allow for changes during the policy year arising from the addition of joint insureds to the bond, the growth or loss of gross assets of the Fund during the year requiring additional or reduced coverage in accordance with Rule 17g-1 (d) under the 1940 Act, or the liquidation or merger of named insureds;
 
FURTHER RESOLVED, that the following practices are hereby adopted as the procedures for allocating and reallocating fidelity bond premium expense among the named joint insureds:  (i) the joint fidelity bond premium expense allocated to each named insured will be based on the amount of coverage assigned to each named insured from time to time, and (ii) coverage for the Fund under the joint insured bond will be based on the amount of coverage required by Rule 17g-1 (d) under the 1940 Act from time to time plus additional coverage to allow for reasonable growth of the Fund;
 
FURTHER RESOLVED, that the proper officers of each Fund be, and each hereby is, authorized and directed to implement the foregoing procedures by, among other things:  (i) monitoring the amount of fidelity bond coverage assigned to the Fund and, if necessary, increasing or decreasing such coverage to comply with the Board’s procedures, and (ii) if necessary, reallocating the joint fidelity bond expense in accordance with the foregoing procedures for allocating the premium adopted by the Board;
 
FURTHER RESOLVED, that the Secretary of each Fund is hereby designated as the officer responsible for making the necessary filings and giving the notices with respect to such bond required by paragraph (g) of Rule 17g-1 under the 1940 Act; and
 
FURTHER RESOLVED, that the proper officers of each Fund are authorized and directed to take such action with respect to obtaining additional fidelity bond coverage as they deem it necessary or appropriate pursuant to Rule 17g-1 under the 1940 Act.
 
2

 
B.             The period for which premiums have been paid under the joint fidelity bond is November 1, 2008 to November 1, 2009.
 

 
By:
/s/ Edward Baer  
   
Edward Baer, Esq.
   
Assistant Secretary
   
   
Dated:  November 18, 2009
 
 

 
 
 
3

 

Schedule A
 
Fund
Gross Assets as of September 30, 2008
Minimum Bond Requirement
Under Rule 17g-1
BlackRock Financial Institutions Series Trust
$128,301,671
$525,000
BlackRock Funds
$14,143,893,907
$2,500,000
BlackRock Global Emerging Markets Fund, Inc.
$182,337,163
$600,000
BlackRock Financial Services Master LLC/BlackRock Global Financial Services Fund, Inc.
$131,361,507
$525,000
BlackRock Healthcare Fund, Inc.
$425,056,100
$750,000
BlackRock Latin America Fund, Inc.
$542,244,922
$900,000
BlackRock Liquidity Funds, Inc.
$94,525,829,360
$2,500,000
BlackRock Master LLC/BlackRock Series, Inc.
$558,603,641
$900,000
BlackRock Pacific Fund, Inc.
$566,583,477
$900,000
BackRock Technology Fund, Inc.
Not applicable
Fund merged into series of BlackRock Funds on 9/12/2008
CMA Multi-State Muncipal Series Trust
$10,866,328,631
$2,500,000
Master Institutional Money Market LLC
$51,378,860,878
$2,500,000
Merrill Lynch Funds for Institutions Series
$26,594,764,537
$2,500,000
Master Large Cap Series LLC/BlackRock Large Cap Series Fund, Inc.
$8,311,479,877
$2,500,000
Master Government Series LLC/
CMA Government Series Fund
WCMA Government Securities Fund
$1,498,805,858
$1,250,000
Master Money LLC/
CMA Money Fund/
WCMA Money Fund
$22,101,801,544  $2,500,000 
Master Tax-Exempt LLC/
CMA Tax-Exempt LLC/
$11,146,540,671
$2,500,000
 
 
 

 
 
WCMA Tax-Exempt LLC
 
 
Master Treasury LLC/
CMA Treasury Money Fund/
WCMA Treasury Money Fund
$6,830,802,009
$2,500,000
Merrill Lynch Ready Assets Trust
$5,751,562,043
$2,500,000
Merrill Lynch Retirement Series Trust
$7,361,409,768
$2,500,000
Merrill Lynch U.S. Treasury Money Fund
$1,029,957,061
$1,250,000
Merrill Lynch U.S.A. Government Reserves
$242,477,772
$600,000
Quantitative Master Series LLC/
BlackRock Index Funds, Inc.
 
$6,007,881,481
$2,500,000

 

 

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