EX-99.B(I)(1) 15 a10-23871_1ex99dbi1.htm EX-99.B(I)(1)

Exhibit (i)(1)

 

Drinker Biddle & Reath LLP

One Logan Square, Ste. 2000

Philadelphia, PA 19103

(215) 988-2700 (Phone)

(215) 988-2757 (Facsimile)

www.drinkerbiddle.com

 

December 28, 2010

 

The RBB Fund, Inc.

Bellevue Park Corporate Center

103 Bellevue Parkway

Wilmington, Delaware  19809

 

Re:

Shares Registered by Post-Effective Amendment No. 141 to Registration

 

Statement on Form N-1A (File No. 33-20827)

 

 

Ladies and Gentlemen:

 

We have acted as counsel to The RBB Fund, Inc. (the “Company”) in connection with the preparation and filing with the Securities and Exchange Commission of Post-Effective Amendment No. 141 (the “Amendment”) to the Company’s Registration Statement on Form N-1A under the Securities Act of 1933, as amended.  The Board of Directors of the Company has authorized the issuance and sale by the Company of the following classes and numbers of shares of common stock, $0.001 par value per share (collectively, the “Shares”), with respect to the Company’s Money Market, Bogle Investment Management Small Cap Growth, Schneider Small Cap Value, Schneider Value, Marvin & Palmer Large Cap Growth, Robeco Boston Partners Long/Short Equity, Robeco Boston Partners All-Cap Value, Robeco Boston Partners Small Cap Value II, Robeco Boston Partners Long/Short Research, Robeco WPG Small/Micro Cap Value, Senbanc, SAM Sustainable Global Active, Free Market Fixed Income, Free Market International Equity and Free Market U.S. Equity Portfolios:

 

PORTFOLIO

 

CLASS

 

AUTHORIZED SHARES

 

 

 

 

 

Money Market

 

L

I

 

1500 million

1500 million

 

 

 

 

 

Bogle Investment Management

Small Cap Growth

 

NNN

OOO

 

100 million

100 million

 

 

 

 

 

Schneider Small Cap Value

 

YY

 

100 million

 

 

 

 

 

Schneider Value

 

PPP

 

100 million

 



 

PORTFOLIO

 

CLASS

 

AUTHORIZED SHARES

 

 

 

 

 

Marvin & Palmer Large Cap Growth

 

ZZZ

 

100 million

 

 

 

 

 

Robeco Boston Partners Long/Short Equity

 

III

JJJ

 

100 million

100 million

 

 

 

 

 

Robeco Boston Partners All-Cap Value

 

VV

WW

 

100 million

100 million

 

 

 

 

 

Robeco Boston Partners Small Cap Value II

 

DDD

EEE

 

100 million

100 million

 

 

 

 

 

Robeco Boston Partners Long/Short Research Fund

 

AAAAA

BBBBB

 

100 million

100 million

 

 

 

 

 

Robeco WPG Small/Micro Cap Value

 

UUU

 

50 million

 

 

 

 

 

Senbanc

 

WWW

 

50 million

 

 

 

 

 

SAM Sustainable Global Active

 

SSSS

TTTT

 

100 million

100 million

 

 

 

 

 

Free Market Fixed Income

 

DDDD

 

100 million

 

 

 

 

 

Free Market International Equity

 

CCCC

 

100 million

 

 

 

 

 

Free Market U.S. Equity

 

BBBB

 

100 million

 

The Amendment seeks to register an indefinite number of the Shares.

 

We have reviewed the Company’s Articles of Incorporation, ByLaws, resolutions of its Board of Directors, and such other legal and factual matters as we have deemed appropriate.  This opinion is based exclusively on the Maryland General Corporation Law and the federal law of the United States of America.

 

Based upon and subject to the foregoing, it is our opinion that the Shares, when issued for payment as described in the Company’s Prospectuses offering the Shares and in accordance with the Company’s Articles of Incorporation for not less than $ 0.001 per share, will be legally issued, fully paid and non-assessable by the Company.

 

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We consent to the filing of this opinion as an exhibit to the Amendment to the Company’s Registration Statement.

 

 

Very truly yours,

 

 

 

/s/ Drinker Biddle & Reath LLP

 

Drinker Biddle & Reath LLP

 

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