EX-99.(I)(1) 10 dex99i1.htm LEGAL OPINION OF DRINKER BIDDLE & REATH LLP Legal Opinion of Drinker Biddle & Reath LLP

Exhibit (i)(1)

Drinker Biddle & Reath LLP

One Logan Square

18th and Cherry Streets

Philadelphia, PA 19103

(215) 988-2700 (Phone)

(215) 988-2757 (Facsimile)

www.drinkerbiddle.com

December 28, 2007

The RBB Fund, Inc.

Bellevue Park Corporate Center

103 Bellevue Parkway

Wilmington, Delaware 19809

 

  Re: Shares Registered by Post-Effective Amendment No. 124 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. 124 (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, $ .001 par value per share (collectively, the “Shares”), with respect to the Company’s Money Market, Bogle Small Cap Growth, Schneider Small Cap Value, Schneider Value, Bear Stearns CUFS MLP Mortgage, Bear Stearns Ultra Short Income, Marvin & Palmer Large Cap Growth, Robeco Boston Partners Large Cap Value, Robeco Boston Partners Mid Cap Value, Robeco Boston Partners Long/Short Equity, Robeco Boston Partners All-Cap Value, Robeco Boston Partners Small Cap Value II, Robeco WPG Core Bond, Robeco WPG Small Cap Value, Robeco WPG 130/30 Large Cap Core, Senbanc, SAM Sustainable Water, SAM Sustainable Climate, Free Market Fixed Income, Free Market International Equity and Free Market U.S. Equity Portfolios:

 

PORTFOLIO

  

CLASS

  

AUTHORIZED SHARES

Money Market

   L    1500 million
   I    1500 million

Bogle Small Cap Growth

   NNN    100 million
   OOO    100 million

 


PORTFOLIO

  

CLASS

  

AUTHORIZED SHARES

Schneider Small Cap Value

   YY    100 million

Schneider Value

   PPP    100 million

Bear Stearns CUFS MLP Mortgage Portfolio

   YYY    100 million
     

Bear Stearns Ultra Short Income

   AAAA    50 billion

Marvin & Palmer Large Cap Growth

   ZZZ    100 million

Robeco Boston Partners Large Cap Value

   QQ    100 million
   RR    100 million

Robeco Boston Partners Mid Cap Value

   UU    100 million
   TT    100 million

Robeco Boston Partners Long/Short Equity

   III    100 million
   JJJ    100 million

Robeco Boston Partners All-Cap Value

   VV    100 million
   WW    100 million

Robeco Boston Partners Small Cap Value II

   DDD    100 million
   EEE    100 million

Robeco WPG Core Bond

   SSS    100 million
   TTT    50 million
   XXX    100 million

Robeco WPG Small Cap Value

   UUU    50 million

Robeco WPG 130/30 Large Cap Core

   VVV    50 million

Senbanc

   WWW    50 million

SAM Sustainable Water

   FFFF    100 million
   GGGG    100 million
   HHHH    100 million
   IIII    100 million

 


PORTFOLIO

  

CLASS

  

AUTHORIZED SHARES

SAM Sustainable Climate

   JJJJ    100 million
   KKKK    100 million
   LLLL    100 million
   MMMM    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 $ .0001 per share, will be legally issued, fully paid and non-assessable by the Company.

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