Exhibit 9a
FIDELITY BOND
JOINT INSUREDS AGREEMENT
THIS AGREEMENT is made as of September 26, 1996, by and among FBL Money Market
Fund, Inc. ("Money Fund"), FBL Series Fund, Inc. ("Series Fund") both Maryland
corporations; and FBL Variable Insurance Series Fund ("Insurance Series Fund"),
a Massachusetts business trust (collectively the "Funds").
The Funds, all of which are managed by FBL Investment Advisory Services, Inc.,
have acquired a joint insured brokers blanket bond issued by the Chubb Group of
insurance companies effective September 26, 1996 ("Bond"). The aggregate amount
of the Bond ("Bond Amount") is equal to the sum of the basic coverage for each
Fund, as indicated in Exhibit A attached hereto. The Funds desire to provide
herein for an allocation of the premium for the Bond and a manner of allocating
any proceeds received from the Bond.
The Funds hereto therefore agree that:
1. ALLOCATION OF PREMIUM. Each Fund shall pay a portion of the annual
joint bond premium as agreed to in writing no less often than annually
by the Funds and attached hereto as Exhibit A. These amounts have been
determined on the basis of the relative costs to each Fund of a single
insured bond in the amount of that Fund's Basic Coverage as indicated
in Exhibit A.
2. LOSS TO ONE FUND. In the event of an insured loss to only one Fund,
the entire proceeds for that loss shall be allocated to the Fund
incurring such loss.
3. LOSS TO MORE THAN ONE FUND.
(a) LOSS PERCENTAGES. For purposes of allocating the proceeds of
coverage of the Bond, each Fund shall have the loss percentage as
indicated in exhibit A, which percentages are based upon the
percentage of the total Bond coverage
represented by the amount of each Fund's basic coverage.
(b) INITIAL ALLOCATION. Each Fund involved in an insured loss which
involves another Fund shall receive a portion of the proceeds
from the Bond equal to the lesser of (i) the amount of that
Fund's loss or (ii) an amount equal to the product of the Bond
Amount multiplied by that Fund's Loss Percentage, which initial
allocation assures that each Fund shall receive the full amount
of its loss up to the amount of its Basic Coverage.
(c) SUBSEQUENT ALLOCATION. Any Bond proceeds unallocated after the
initial allocation shall be allocated to the Funds for which the
loss was not covered by the initial allocation.
4. AGENT. Series Fund is hereby appointed as the agent for the Funds for
the purpose of making, adjusting, receiving and enforcing payment of
all claims and otherwise dealing with the Bond. Any expenses incurred
by Series Fund in its capacity as agent in connection with a claim
shall be shared by the Funds in proportion to the proceeds received by
the Funds for the loss. All other expenses incurred by Series Fund in
its capacity as agent shall be shared by the Funds in the same
proportion as their Loss Percentages.
6. MODIFICATION AND TERMINATION. This Agreement may be modified or
amended from time to time by mutual written agreement among the Funds.
It may be terminated with respect to any one Fund by not less than 75
days' written notice to the other Funds. It shall terminate as of the
date that any Fund ceases to be an insured under the Bond; provided
that such termination shall not affect such Fund's rights and
obligations hereunder with respect to any claims on behalf of such
Fund which are paid under the Bond after the date such Fund ceases to
be an insured under the Bond.
7. FURTHER ASSURANCES. Each Fund agrees to perform such further acts and
execute such
further documents as are necessary to effectuate the purposes hereof.
IN WITNESS WHEREOF, the Funds have caused this Agreement to the executed as of
the day and year first above written.
Attest: FBL Series Fund, Inc.
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
---------------------------------------------- ------------------------------
Its Assistant Secretary, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
Attest: FBL Money Market Fund, Inc.
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
--------------------------------------------- -----------------------------
Its Assistant Secretary, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
Attest: FBL Variable Insurance Series Fund
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
--------------------------------------------- ------------------------------
Its Assistant Secretary, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
EXHIBIT A
FIDELITY BOND
JOINT INSUREDS AGREEMENT
9/26/96
For Bond Period September 26, 1996 through February 15, 1997.
1. Basic Coverage
Fund Basic Coverage
---- --------------
Series Fund 600,000
Money Fund 350,000
Insurance Series Fund 525,000
-------
Total 1,475,000
2. Allocation of Premium
Premium for Premium
Separate Allocation Bond
Fund Insured Bond Percentage Premium
---- ------------ ---------- -------
Series Fund 932.00 40.02% 776.74
Money Fund 559.00 24.00% 465.87
Ins. Series Fund 838.00 35.98% 698.39
------ ------ ------
Total 2,329.00 100.00% 1,941.00
3. Allocation of Bond Proceeds
Fund Loss Percentage
---- ---------------
Series Fund 40.68%
Money Fund 23.73%
Ins. Series Fund 35.59%
------
Total 100.00%
Attest: FBL SERIES FUND, INC.
/s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
--------------------------------- ----------------------------------
Its Assistant Secretary Its Vice President
Attest: FBL MONEY MARKET FUND, INC.
/s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
--------------------------------- ----------------------------------
Its Assistant Secretary Its Vice President
Attest: FBL VARIABLE INSURANCE SERIES FUND
/s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
--------------------------------- ----------------------------------
Its Assistant Secretary Its Vice President