Administration Agreement between First American Insurance Portfolios, Inc. and U.S. Bank National Association
About this form
The Administration Agreement between First American Insurance Portfolios, Inc. and U.S. Bank National Association is a legal document that outlines the responsibilities and services provided by an administrator to a fund. This agreement is specifically designed for investment management companies and distinguishes itself by formalizing the administrative relationship and services required for effective fund operations. The agreement encompasses roles related to accounting, regulatory compliance, and shareholder services, ensuring clarity in the administration of investment portfolios.
What’s included in this form
- Retention of the Administrator: Defines the appointment and acceptance of U.S. Bank National Association as the Administrator.
- Administrative Services: Details the range of services provided, including fund accounting, regulatory reporting, and shareholder communications.
- Compensation of the Administrator: Outlines how the Administrator will be compensated for services rendered, including fees and expense reimbursements.
- Limitation of Liability: Specifies conditions under which the Administrator is held liable for errors or omissions.
- Duration and Amendments: Describes the term of the agreement and the process for making changes to the document.
Situations where this form applies
This Administration Agreement is necessary when an investment company, such as an open-end diversified management investment company, seeks to formalize its administrative relationship with a financial institution. It is utilized when the fund requires comprehensive administrative services, including fund accounting, regulatory filings, and shareholder communication, to ensure compliance with legal and financial obligations established by the Investment Company Act of 1940.
Who this form is for
- Investment companies needing administrative support for fund operations.
- Financial institutions acting as administrators for investment funds.
- Legal professionals drafting agreements relating to fund management.
- Shareholders or directors involved in overseeing fund administration.
Steps to complete this form
- Identify the parties involved: First American Insurance Portfolios, Inc. and U.S. Bank National Association.
- Specify the services to be provided by the Administrator in the administrative services section.
- Detail the compensation structure in the compensation section, including any fees and reimbursements.
- Review and agree upon the limitations of liability for the Administrator.
- Sign and date the agreement to formalize the administrative relationship.
Is notarization required?
This form does not typically require notarization unless specified by local law. However, it's advisable to check specific state regulations as certain jurisdictions may have different requirements concerning signatures on contractual agreements.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Mistakes to watch out for
- Failing to clearly define the services to be provided by the Administrator.
- Not outlining the compensation structure and payment timeline accurately.
- Overlooking the legal requirements in specific states that may affect the agreement.
- Neglecting to obtain the necessary signatures for enforcement.
Benefits of completing this form online
- Fast access to professionally drafted legal templates, ensuring compliance with relevant laws.
- Easy download and print options for immediate use.
- Flexibility to customize specific sections to fit individual needs.
- Cost-effective solution compared to hiring an attorney for basic templates.
Legal use & context
- The agreement is essential for ensuring compliance with the Investment Company Act of 1940.
- It establishes a legal framework for the operational relationship between investment companies and their administrators.
- Misinterpretation of terms may lead to legal disputes or regulatory issues.
Quick recap
- The Administration Agreement clearly delineates the responsibilities of the Administrator to the Fund.
- Use this form to formalize administrative relationships in compliance with regulatory standards.
- Ensure all terms are accurately completed and agreed upon by both parties for enforcement.
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FAQ
National banking association is a bank that has been organized under the National Bank Act. Such an association operates pursuant to a certificate of authority issued by the Comptroller of the Currency. Each national banking association is required to become a member of the Federal Reserve System.
A national bank is a financial institution chartered by the national government. It is also required to be a member of the Federal Reserve System. The comptroller of the U.S. Treasury monitors national banks.
The OCC regulates and supervises about 1,200 national banks, federally-licensed savings associations, and federally-licensed branches of foreign banks in the United States, accounting for more than two-thirds of the total assets of all U.S. commercial banks (as of September 30, 2020).
U.S. Bancorp (stylized as us bancorp) is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States.
U.S. Bank Trust National Association is a transfer agent regulated by the U.S. Security and Exchange Commission and incorporated in the state of Delaware. For financial reporting, their fiscal year ends on December 31st.
