ARTICLES SUPPLEMENTARY
OF
MICHIGAN DAILY TAX FREE INCOME FUND, INC.
Michigan Daily Tax Free Income Fund, Inc., a Maryland Corporation
having it's principal office in the State of Maryland in the City of Baltimore
(hereinafter called the "Corporation" or the "Fund") certifies to the Department
of Assessments and Taxation of Maryland that:
(1) The following is a description of the stock, including the
preferences, conversion and other rights, voting powers, restrictions,
limitations as to dividends, qualifications, and terms and conditions of
redemption, as set and changed by the board of directors:
The Corporation's stock is subdivided into two classes of
stock, Class A and Class B. Each share, regardless of class
will represent an interest in the same portfolio of investments
and will have identical voting, dividend, liquidation and other
rights, preferences, powers, restrictions, limitations,
qualifications, designations and terms and conditions as set
forth in the Corporation's Articles of Incorporation, as
amended, except that (i) the Class A and Class B shares will
have different designations; (ii) only the Class A shares will
be assessed a service fee pursuant to the Rule 12b-1
Distribution and Service Plan (the "12b-1 Plan") of the Fund
equal to .20% of the Class A shares' average daily net assets;
(iii) only the holders of the Class A shares will be entitled
to vote on matters pertaining to the 12b-1 Plan and any related
agreements in accordance with provisions of Rule 12b-1 of the
Investment Company Act of 1940, and (iv) the exchange privilege
will permit stockholders to exchange their shares only for
shares of the same class of designated funds listed in an
exchange fund.
Only the Class A shares will bear a service fee under the 12b-1
Plan. As a result, the net income of any dividends payable to
these shares will be lower than the net income of and dividends
payable to the Class B shares of the Fund. Dividends paid to
each class of shares of the Fund will, however, be declared and
paid on the same days at the same times and, except as noted
with respect to the service fees payable under the 12b-1 Plan,
will be determined in the same manner and paid in the same
amounts.
(2) The Board of Directors has reclassified the stock of the
Corporation under the authority contained in Article Fifth of the Corporation's
Articles of Incorporation, as amended.
<PAGE>
IN WITNESS WHEREOF, Michigan Daily Tax Free Income Fund, Inc. has
caused these presents to be signed in its name and on its behalf by its
President or one of its Vice Presidents and attested by its Secretary or one of
its Assistant Secretaries, on April 10, 2000.
MICHIGAN DAILY TAX FREE INCOME FUND, INC.
By: /s/ Steven W. Duff
Steven W. Duff
President
Attest:
/s/ Bernadette N. Finn
Bernadette N. Finn
Secretary
<PAGE>
THE UNDERSIGNED, President of MICHIGAN DAILY TAX FREE INCOME
FUND, INC., who executed on behalf of said Corporation the foregoing Articles
Supplementary, of which this certificate is made a part, hereby acknowledges, in
the name and on behalf of said Corporation, the foregoing Articles Supplementary
to be the corporate act of said Corporation and further certifies that, to the
best of his knowledge, information, and in all material respects, under the
penalties of perjury.
MICHIGAN DAILY TAX FREE INCOME FUND, INC.
By: /s/ Steven W. Duff
Steven W. Duff
President
