<PAGE> PAGE 1
000 B000000 12/31/98
000 C000000 0000876980
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 H000000 N
000 I000000 3.0.a
000 J000000 A
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001 B000000 811-6347
001 C000000 6174263750
002 A000000 ONE FINANCIAL CENTER
002 B000000 BOSTON
002 C000000 MA
002 D010000 02111
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 COLONIAL NEWPORT TIGER FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 50
019 C00AA00 COLGPFUNDS
020 A000001 BARING SECURITIES
020 C000001 274
020 A000002 CREDIT LYONNAIS SECURITIES ASIA
020 C000002 154
020 A000003 JARDINE FLEMING
020 C000003 72
020 A000004 CD FIRST BOSTON CORP.
020 C000004 62
020 A000005 BEAR STERNS & CO.
020 C000005 47
020 A000006 ABN AMRO CHICAGO
020 C000006 47
020 A000007 DEUTSCHE SECURITIES ASIA
<PAGE> PAGE 2
020 C000007 46
020 A000008 SOCIETE GENERAL
020 C000008 43
020 A000009 MERILL LYNCH, PIERCE, FENNER
020 C000009 39
020 A000010 SG WARBURG
020 C000010 36
021 000000 820
022 A000001 ABN AMRRO
022 B000001 13-3227945
022 C000001 1248742
022 D000001 0
022 A000002 LEHMAN BROTHERS
022 C000002 1234058
022 D000002 0
022 A000003 CHASE MANHATTAN BANK
022 C000003 46547
022 D000003 11352
022 A000004 WARBURG REPO
022 C000004 119797
022 D000004 0
022 A000005 MORGAN STANLEY & CO.
022 C000005 8774
022 D000005 0
022 A000006 INTERFUND TRADES
022 C000006 157
022 D000006 11351
022 A000007 BARING SECURITITES
022 C000007 1200
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022 C000008 1096
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023 D000000 119134
026 A000000 Y
026 B000000 Y
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026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
077 A000000 N
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<PAGE> PAGE 3
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
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008 B000101 A
008 C000101 801-31850
008 D010101 SAN FRANCISCO
008 D020101 CA
008 D030101 94104
010 A000101 COLONIAL MANAGEMENT ASSOCIATES, INC
010 B000101 801-2019
010 C010101 BOSTON
010 C020101 MA
010 C030101 02111
012 A000101 COLONIAL INVESTORS SERVICE CENTER, INC
012 B000101 84-1329
012 C010101 BOSTON
012 C020101 MA
012 C030101 02111
013 A000101 PRICE WATERHOUSE LLP
013 B010101 BOSTON
013 B020101 MA
013 B030101 02110
015 A000101 THE CHASE MANHATTAN BANK
015 B000101 C
015 C010101 NEW YORK
015 C020101 NY
015 C030101 10004
015 E010101 X
015 A000102 THE CHASE MANHATTAN BANK N.A.
015 B000102 S
015 C010102 BUENOS AIRES
015 D010102 ARGENTINA
015 E040102 X
015 A000103 THE CHASE MANHATTAN BANK
015 B000103 S
015 C010103 SYDNEY
<PAGE> PAGE 4
015 D010103 AUSTRALIA
015 E040103 X
015 A000104 CREDITANSTALT BANKVEREIN
015 B000104 S
015 C010104 VIENNA
015 D010104 AUSTRIA
015 E040104 X
015 A000105 BRITISH BANK OF THE MIDDLE EAST
015 B000105 S
015 C010105 MANAMA
015 D010105 BAHRAIN
015 E040105 X
015 A000106 STANDARD CHARTERED BANK
015 B000106 S
015 C010106 DHAKA
015 D010106 BANGLADESH
015 E040106 X
015 A000107 GENERALE BANK
015 B000107 S
015 C010107 BRUXELLES
015 D010107 BELGIUM
015 E040107 X
015 A000108 BARCLAYS BANK OF BOTSWANA
015 B000108 S
015 C010108 GABORONE
015 D010108 BOTSWANA
015 E040108 X
015 A000109 CITIBANK NA
015 B000109 S
015 C010109 SAO PAULO
015 D010109 BRAZIL
015 E040109 X
015 A000110 CANADA TRUST
015 B000110 S
015 C010110 TORONTO
015 D010110 CANADA
015 E040110 X
015 A000111 CITIBANK, N.A.
015 B000111 S
015 C010111 SANTIAGO
015 D010111 CHILE
015 E040111 X
015 A000112 THE HONG KONG & SHANGHAI BANKING CORP/
015 B000112 S
015 C010112 SHANGHAI
015 D010112 CHINA
015 E040112 X
015 A000113 THE HONG KONG & SHANGHAI BANKING CORP.
015 B000113 S
015 C010113 SHENZHEN
015 D010113 CHINA
<PAGE> PAGE 5
015 E040113 X
015 A000114 CITITRUST COLUMBIA, S.A.
015 B000114 S
015 C010114 BOGOTA
015 D010114 COLUMBIA
015 E040114 X
015 A000115 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000115 S
015 C010115 PRAHA
015 D010115 CZECH REPUBLIC
015 E040115 X
015 A000116 DEN DANSKE BANK
015 B000116 S
015 C010116 COPENHAGEN
015 D010116 DENMARK
015 E040116 X
015 A000117 CITIBANK, N.A.
015 B000117 S
015 C010117 QUITO
015 D010117 ECUADOR
015 E040117 X
015 A000118 NATIONAL BANK OF EGYPT
015 B000118 S
015 C010118 CAIRO
015 D010118 EGYPT
015 E040118 X
015 A000119 MERITA BANK
015 B000119 S
015 C010119 HELSINKI
015 D010119 FINLAND
015 E040119 X
015 A000120 BANQUE PARIBUS
015 B000120 S
015 C010120 CEDEX
015 D010120 FRANCE
015 E040120 X
015 A000121 DRESDNER BANK A.G.
015 B000121 S
015 C010121 FRANKFURT
015 D010121 GERMANY
015 E040121 X
015 A000122 BARCLAY'S BANK OF GHANA LIMITED
015 B000122 S
015 C010122 ACCRA
015 D010122 GHANA
015 E040122 X
015 A000123 BARCLAYS BANK GHANA
015 B000123 S
015 C010123 ATHENS
015 D010123 GREECE
015 E040123 X
<PAGE> PAGE 6
015 A000124 THE CHASE MANHATTAN BANK
015 B000124 S
015 C010124 CENTRAL
015 D010124 HONG KONG
015 E040124 X
015 A000125 CITIBANK BUDAPEST R.T.
015 B000125 S
015 C010125 BUDAPEST
015 D010125 HUNGARY
015 E040125 X
015 A000126 THE HONG KONG & SHANGHAI BANKING CORP
015 B000126 S
015 C010126 BOMBAY
015 D010126 INDIA
015 E040126 X
015 A000127 THE HONG KONG & SHANGHAI BANKING CORP.
015 B000127 S
015 C010127 JAKARTA
015 D010127 INDONESIA
015 E040127 X
015 A000128 BANK OF ISELAND
015 B000128 S
015 C010128 DUBLIN
015 D010128 IRELAND
015 E040128 X
015 A000129 BANK LEUMI LE-ISREAL B.M.
015 B000129 S
015 C010129 TEL AVIV
015 D010129 ISRAEL
015 E040129 X
015 A000130 BANQUE PARIBUS
015 B000130 S
015 C010130 MILAN
015 D010130 ITALY
015 E040130 X
015 A000131 THE FUJI BANK LTD
015 B000131 S
015 C010131 TOKYO
015 D010131 JAPAN
015 E040131 X
015 A000132 ARAB BANK PLC
015 B000132 S
015 C010132 AMMAN
015 D010132 JORDAN
015 E040132 X
015 A000133 BARCLAY'S BANK OF KENYA LIMITED
015 B000133 S
015 C010133 NAIROBI
015 D010133 KENYA
015 E040133 X
015 A000134 THE HONG KONG & SHANGHAI BANKING CORP
<PAGE> PAGE 7
015 B000134 S
015 C010134 SEOUL
015 D010134 SOUTH KOREA
015 E040134 X
015 A000135 BRITISH BANK OF THE MIDDLE EAST
015 B000135 S
015 C010135 BEIRUT
015 D010135 LEBANON
015 E040135 X
015 A000136 THE CHASE MANHATTAN BANK
015 B000136 S
015 C010136 KUALA LUMPUR
015 D010136 MALAYSIA
015 E040136 X
015 A000137 HONGKONG AND SHANGHAI BANKING CORP
015 B000137 S
015 C010137 CUREPIPE
015 D010137 MAURITIUS
015 E040137 X
015 A000138 THE CHASE MANHATTAN BANK
015 B000138 S
015 C010138 MEXICO DF
015 D010138 MEXICO
015 E040138 X
015 A000139 BANQUE COMMERCIALE DU MAROC
015 B000139 S
015 C010139 CASA BLANCA
015 D010139 MOROCCO
015 E040139 X
015 A000140 STANDARD BANK NAMBIA LTD
015 B000140 S
015 C010140 WINDHOEK
015 D010140 NAMBIA
015 E040140 X
015 A000141 ABN AMRO BANK
015 B000141 S
015 C010141 DE BREDA
015 D010141 NETHERLANDS
015 E040141 X
015 A000142 NATIONAL NOMINEES LTD
015 B000142 S
015 C010142 AUCKLAND
015 D010142 NEW ZEALAND
015 E040142 X
015 A000143 DEN NORSKE BANK
015 B000143 S
015 C010143 OSLO
015 D010143 NORWAY
015 E040143 X
015 A000144 BRITISH BANK OF THE MIDDLE EAST
015 B000144 S
<PAGE> PAGE 8
015 C010144 MUSCAT
015 D010144 OMAN
015 E040144 X
015 A000145 CITIBANK N.A
015 B000145 S
015 C010145 KARACHI
015 D010145 PAKISTAN
015 E040145 X
015 A000146 DELETE
015 A000147 CITIBANK, N.A.
015 B000147 S
015 C010147 LIMA
015 D010147 PERU
015 E040147 X
015 A000148 THE HONG KONG & SHANGHAI BANKING CORP
015 B000148 S
015 C010148 MANILA
015 D010148 PHILIPPINES
015 E040148 X
015 A000149 BANK POLSKA KASA OPIEKI S.A
015 B000149 S
015 C010149 WARSAW
015 D010149 POLAND
015 E040149 X
015 A000150 BANCO ESPIRITO SANTO E COMERCIAL SE LISONA, S
015 B000150 S
015 C010150 LISBON
015 D010150 PORTUGAL
015 E040150 X
015 A000151 STANDARD CHARTERED BANK
015 B000151 S
015 C010151 SINGAPORE
015 D010151 SINGAPORE
015 E040151 X
015 A000152 CESKOSLOVENSKA OBCHOSNI BANKA
015 B000152 S
015 C010152 BRATISLAVA
015 D010152 SLOVAKIA
015 E040152 X
015 A000153 STANDARD BANK OF SOUTH AFRICA
015 B000153 S
015 C010153 JOHANNESBURG
015 D010153 SOUTH AFRICA
015 E040153 X
015 A000154 THE CHASE MANHATTAN BANK
015 B000154 S
015 C010154 MADRID
015 D010154 SPAIN
015 E040154 X
015 A000155 HONGKONG AND SHANGHAI BANKING CORP
015 B000155 S
<PAGE> PAGE 9
015 C010155 COLOMBO
015 D010155 SRI LANKA
015 E040155 X
015 A000156 STANBIC BANK SWAZILAND LTD
015 B000156 S
015 C010156 MBABANE
015 D010156 SWAZILAND
015 E040156 X
015 A000157 SKANDINAVISKA ENSKILDA BANKEN
015 B000157 S
015 C010157 STOCKHOLM
015 D010157 SWEDEN
015 E040157 X
015 A000158 UNION BANK OF SWITZERLAND
015 B000158 S
015 C010158 ZURICH
015 D010158 SWITZERLAND
015 E040158 X
015 A000159 THE CHASE MANHATTAN BANK
015 B000159 S
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015 D010159 TAIWAN
015 E040159 X
015 A000160 THE CHASE MANHATTAN BANK
015 B000160 S
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015 D010160 THAILAND
015 E040160 X
015 A000161 THE CHASE MANHATTAN BANK
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015 E040161 X
015 A000162 THE CHASE MANHATTAN BANK
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015 D010162 UNITED KINGDOM
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015 A000164 CITIBANK, N.A.
015 B000164 S
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015 A000165 BARCLAYS BANK OF ZAMBIA
015 B000165 S
015 C010165 LUSAKA
<PAGE> PAGE 10
015 D010165 ZAMBIA
015 E040165 X
015 A000166 BARCLAYS BANK OF ZIMBABWE
015 B000166 S
015 C010166 HARARE
015 D010166 ZIMBABWE
015 E040166 X
015 A000167 EUROCLEAR
015 B000167 S
015 C010167 BRUSSELS
015 D010167 BELGIUM
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024 000100 Y
025 A000101 HSBC HOLDINGS PLC
025 C000101 E
025 D000101 42667
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028 C040100 96020
028 D010100 68447
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028 D040100 63338
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028 F040100 36332
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<PAGE> PAGE 11
028 H000100 125526
029 000100 Y
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037 000100 N
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039 000100 N
040 000100 Y
041 000100 Y
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042 C000100 100
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042 E000100 0
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042 G000100 0
042 H000100 0
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048 B020100 0.000
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<PAGE> PAGE 12
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
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062 L000100 0.0
062 M000100 0.0
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062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
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066 A000100 Y
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 Y
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 Y
<PAGE> PAGE 13
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
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070 N020100 N
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070 Q020100 N
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<PAGE> PAGE 14
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SIGNATURE GAIL KNUDSEN
TITLE ASSISTANT CONTROLLER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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AMENDMENT NO. 1
TO THE
AGREEMENT AND DECLARATION OF TRUST
OF
COLONIAL TRUST VII
WHEREAS, Section 1 of Article I of the Amended and Restated Agreement
and Declaration of Trust (Declaration of Trust) dated October 30, 1998, as
amended, of Colonial Trust VII (Trust), a copy of which is on file in the Office
of the Secretary of The Commonwealth of Massachusetts authorizes the Trustees of
the Trust to amend the Declaration of Trust to change the name of the Trust
without authorization by vote of Shareholders of the Trust.
WE, THE UNDERSIGNED, being a majority of the Trustees of Colonial Trust
VII, do hereby certify that the undersigned have determined to conduct the
business of the Trust under the name "Liberty Funds Trust VII" and have
authorized the following amendment to said Declaration of Trust:
Section 1 of Article I is hereby amended to read in its entirety as
follows:
Section 1. This Trust shall be known as "Liberty Funds Trust
VII" and the Trustees shall conduct the business of the Trust under
that name or any other name as they may from time to time determine.
The foregoing Amendment shall become effective as of April 1, 1999.
IN WITNESS WHEREOF, the undersigned have hereunto set their hands in
the City of Boston, Massachusetts, for themselves and their assigns, as of this
April 1, 1999.
- ------------------------------------------- -----------------------------
Robert J. Birnbaum William E. Mayer
- ------------------------------------------- -----------------------------
Tom Bleasdale James L. Moody, Jr.
- ------------------------------------------- -----------------------------
John V. Carberry John J. Neuhauser
- ------------------------------------------- -----------------------------
Lora S. Collins Thomas E. Stitzel
- ------------------------------------------- -----------------------------
James E. Grinnell Robert L. Sullivan
- ------------------------------------------- -----------------------------
Richard W. Lowry Anne-Lee Verville
- -------------------------------------------
Salvatore Macera
Commonwealth of Massachusetts )
)ss.
County of Suffolk )
Then personally appeared the above-named Trustees and executed
Amendment No. 1 to the Amended and Restated Agreement and Declaration of Trust
of Colonial Trust VII as their free act and deed, before me, this March 18,
1999.
Mary P. Mahoney
Notary Public
My Commission Expires: 2/22/2002
Restated: 10/20/95
Amended Section 3.1, paragraph 2: 2/16/96
Amended Name, Section 1.1 - 4/1/99
BY-LAWS
OF
LIBERTY FUNDS TRUST VII
Section 1. Agreement and Declaration of Trust and Principal Office
1.1 Agreement and Declaration of Trust. These By-Laws shall be subject to
the Agreement and Declaration of Trust, as from time to time in effect
(the "Declaration of Trust"), of Liberty Funds Trust VII, a
Massachusetts business trust established by the Declaration of Trust
(the "Trust").
1.2 Principal Office of the Trust. The principal office of the Trust shall
be located in Boston, Massachusetts.
-----------------------------
Section 2. Shareholders
2.1 Shareholder Meetings. A meeting of the shareholders of the Trust or of
any one or more series or classes of shares may be called at any time
by the Trustees, by the president or, if the Trustees and the president
shall fail to call any meeting of shareholders for a period of 30 days
after written application of one or more shareholders who hold at least
10% of all outstanding shares of the Trust, if shareholders of all
series are required under the Declaration of Trust to vote in the
aggregate and not by individual series at such meeting, or of any
series or class, if shareholders of such series or class are entitled
under the Declaration of Trust to vote by individual series or class at
such meeting, then such shareholders may call such meeting. If the
meeting is a meeting of the shareholders of one or more series or
classes of shares, but not a meeting of all shareholders of the Trust,
then only the shareholders of such one or more series or classes shall
be entitled to notice of and to vote at the meeting. Each call of a
meeting shall state the place, date, hour and purpose of the meeting.
2.2 Place of Meetings. All meetings of the shareholders shall be held at
the principal office of the Trust, or, to the extent permitted by the
Declaration of Trust, at such other place within the United States as
shall be designated by the Trustees or the president of the Trust.
2.3 Notice of Meetings. A written notice of each meeting of shareholders,
stating the place, date and hour and the purposes of the meeting, shall
be given at least seven days before the meeting to each shareholder
entitled to vote thereat by leaving such notice with him or her or at
his or her residence or usual place of business or by mailing it,
postage prepaid, and addressed to such shareholder at his or her
address as it appears in the records of the Trust. Such notice shall be
given by the secretary or an assistant secretary or by an officer
designated by the Trustees. No notice of any meeting of shareholders
need be given to a shareholder if a written waiver of notice, executed
before or after the meeting by such shareholder or his or her attorney
thereunto duly authorized, is filed with the records of the meeting.
2.4 Ballots. No ballot shall be required for any election unless requested
by a shareholder present or represented at the meeting and entitled to
vote in the election.
2.5 Proxies. Shareholders entitled to vote may vote either in person or by
proxy in writing dated not more than six months before the meeting
named therein, which proxies shall be filed with the secretary or other
person responsible to record the proceedings of the meeting before
being voted. Unless otherwise specifically limited by their terms, such
proxies shall entitle the holders thereof to vote at any adjournment of
such meeting but shall not be valid after the final adjournment of such
meeting. The placing of a shareholder's name on a proxy pursuant to
telephonic or electronically transmitted instructions obtained pursuant
to procedures reasonably designed to verify that such instructions have
been authorized by such shareholder shall constitute execution of such
proxy by or on behalf of such shareholder.
2.6 Quorum. Thirty percent (30%) of the shares entitled to vote shall be a
quorum for the transaction of business at a shareholders' meeting,
except that where any provision of law or of the Trust's Declaration of
Trust permits or requires that holders of any series or class shall
vote as a series or class, then thirty percent (30%) of the aggregate
number of shares of that series or class entitled to vote shall be
necessary to constitute a quorum for the transaction of business by
that series or class. Any lesser number, however, shall be sufficient
for adjournments.
Section 3. Trustees
3.1 Committees and Advisory Board. The Trustees may appoint from their
number an executive committee and other committees. Except as the
Trustees may otherwise determine, any such committee may make rules for
conduct of its business. The Trustees may appoint an advisory board to
consist of not less than two nor more than five members. The members of
the advisory board shall be compensated in such manner as the Trustees
may determine and shall confer with and advise the Trustees regarding
the investments and other affairs of the Trust. Each member of the
advisory board shall hold office until the first meeting of the
Trustees following the next meeting of the shareholders and until his
or her successor is elected and qualified, or until he or she sooner
dies, resigns, is removed or becomes disqualified, or until the
advisory board is sooner abolished by the Trustees.
In addition, the Trustees may appoint a dividend committee of not less
than three persons, who may (but need not) be Trustees.
No special compensation shall be payable to members of the Dividend
Committee. Each member of the Dividend Committee will hold office until
the successors are elected and qualified or until the member dies,
resigns, is removed, becomes disqualified or until the Committee is
abolished by the Trustees.
3.2 Regular Meetings. Regular meetings of the Trustees may be held without
call or notice at such places and at such times as the Trustees may
from time to time determine, provided that notice of the first regular
meeting following any such determination shall be given to absent
Trustees.
3.3 Special Meetings. Special meetings of the Trustees may be held at any
time and at any place designated in the call of the meeting, when
called by the president or the treasurer or by two or more Trustees,
sufficient notice thereof being given to each Trustee by the secretary
or an assistant secretary or by the officer or one of the Trustees
calling the meeting.
3.4 Notice. It shall be sufficient notice to a Trustee to send notice by
mail at least forty-eight hours or by telegram at least twenty-four
hours before the meeting addressed to the Trustee at his or her usual
or last known business or residence address or to give notice to him or
her in person or by telephone at least twenty-four hours before the
meeting. Notice of a meeting need not be given to any Trustee if a
written waiver of notice, executed by him or her before or after the
meeting, is filed with the records of the meeting, or to any Trustee
who attends the meeting without protesting prior thereto or at its
commencement the lack of notice to him or her. Neither notice of a
meeting nor a waiver of a notice need specify the purposes of the
meeting.
3.5 Quorum. At any meeting of the Trustees one-third of the Trustees then
in office shall constitute a quorum; provided, however, a quorum shall
not be less than two. Any meeting may be adjourned from time to time by
a majority of the votes cast upon the question, whether or not a quorum
is present, and the meeting may be held as adjourned without further
notice.
Section 4. Officers and Agents
4.1 Enumeration; Qualification. The officers of the Trust shall be a
president, a treasurer, a secretary and such other officers, if any, as
the Trustees from time to time may in their discretion elect or
appoint. The Trust may also have such agents, if any, as the Trustees
from time to time may in their discretion appoint. Any officer may be
but none need be a Trustee or shareholder. Any two or more offices may
be held by the same person.
4.2 Powers. Subject to the other provisions of these By-Laws, each officer
shall have, in addition to the duties and powers herein and in the
Declaration of Trust set forth, such duties and powers as are commonly
incident to his or her office as if the Trust were organized as a
Massachusetts business corporation and such other duties and powers as
the Trustees may from time to time designate, including without
limitation the power to make purchases and sales of portfolio
securities of the Trust pursuant to recommendations of the Trust's
investment adviser in accordance with the policies and objectives of
that series of shares set forth in its prospectus and with such general
or specific instructions as the Trustees may from time to time have
issued.
4.3 Election. The president, the treasurer and the secretary shall be
elected annually by the Trustees. Other elected officers are elected by
the Trustees. Assistant officers are appointed by the elected officers.
4.4 Tenure. The president, the treasurer and the secretary shall hold
office until their respective successors are chosen and qualified, or
in each case until he or she sooner dies, resigns, is removed or
becomes disqualified. Each other officer shall hold office at the
pleasure of the Trustees. Each agent shall retain his or her authority
at the pleasure of the Trustees.
4.5 President and Vice Presidents. The president shall be the chief
executive officer of the Trust. The president shall preside at all
meetings of the shareholders and of the Trustees at which he or she is
present, except as otherwise voted by the Trustees. Any vice president
shall have such duties and powers as shall be designated from time to
time by the Trustees.
4.6 Treasurer and Controller. The treasurer shall be the chief financial
officer of the Trust and subject to any arrangement made by the
Trustees with a bank or trust company or other organization as
custodian or transfer or shareholder services agent, shall be in charge
of its valuable papers and shall have such other duties and powers as
may be designated from time to time by the Trustees or by the
president. Any assistant treasurer shall have such duties and powers as
shall be designated from time to time by the Trustees.
The controller shall be the chief accounting officer of the Trust and
shall be in charge of its books of account and accounting records. The
controller shall be responsible for preparation of financial statements
of the Trust and shall have such other duties and powers as may be
designated from time to time by the Trustees or the president.
4.7 Secretary and Assistant Secretaries. The secretary shall record all
proceedings of the shareholders and the Trustees in books to be kept
therefor, which books shall be kept at the principal office of the
Trust. In the absence of the secretary from any meeting of shareholders
or Trustees, an assistant secretary, or if there be none or he or she
is absent, a temporary clerk chosen at the meeting shall record the
proceedings thereof in the aforesaid books.
Section 5. Resignations and Removals
Any Trustee, officer or advisory board member may resign at any time by
delivering his or her resignation in writing to the president, the treasurer or
the secretary or to a meeting of the Trustees. The Trustees may remove any
officer elected by them with or without cause by the vote of a majority of the
Trustees then in office. Except to the extent expressly provided in a written
agreement with the Trust, no Trustee, officer, or advisory board member
resigning, and no officer or advisory board member removed shall have any right
to any compensation for any period following his or her resignation or removal,
or any right to damages on account of such removal.
Section 6. Vacancies
A vacancy in any office may be filled at any time. Each successor shall hold
office for the unexpired term, and in the case of the presidents, the treasurer
and the secretary, until his or her successor is chosen and qualified, or in
each case until he or she sooner dies, resigns, is removed or becomes
disqualified.
Section 7. Shares of Beneficial Interest
7.1 Share Certificates. No certificates certifying the ownership of shares
shall be issued except as the Trustees may otherwise authorize. In the
event that the Trustees authorize the issuance of share certificates,
subject to the provisions of Section 7.3, each shareholder shall be
entitled to a certificate stating the number of shares owned by him or
her, in such form as shall be prescribed from time to time by the
Trustees. Such certificate shall be signed by the president or a vice
president and by the treasurer or an assistant treasurer. Such
signatures may be facsimiles if the certificate is signed by a transfer
agent or by a registrar, other than a Trustee, officer or employee of
the Trust. In case any officer who has signed or whose facsimile
signature has been placed on such certificate shall have ceased to be
such officer before such certificate is issued, it may be issued by the
Trust with the same effect as if he or she were such officer at the
time of its issue.
In lieu of issuing certificates for shares, the Trustees or the
transfer agent may either issue receipts therefor or keep accounts upon
the books of the Trust for the record holders of such shares, who shall
in either case be deemed, for all purposes hereunder, to be the holders
of certificates for such shares as if they had accepted such
certificates and shall be held to have expressly assented and agreed to
the terms hereof.
7.2 Loss of Certificates. In the case of the alleged loss or destruction or
the mutilation of a share certificate, a duplicate certificate may be
issued in place thereof, upon such terms as the Trustees may prescribe.
7.3 Discontinuance of Issuance of Certificates. The Trustees may at any
time discontinue the issuance of share certificates and may, by written
notice to each shareholder, require the surrender of share certificates
to the Trust for cancellation. Such surrender and cancellation shall
not affect the ownership of shares in the Trust.
Section 8. Record Date and Closing Transfer Books
The Trustees may fix in advance a time, which shall not be more than 90 days
before the date of any meeting of shareholders or the date for the payment of
any dividend or making of any other distribution to shareholders, as the record
date for determining the shareholders having the right to notice and to vote at
such meeting and any adjournment thereof or the right to receive such dividend
or distribution, and in such case only shareholders of record on such record
date shall have such right, notwithstanding any transfer of shares on the books
of the Trust after the record date; or without fixing such record date the
Trustees may for any of such purposes close the transfer books for all or any
part of such period.
Section 9. Seal
The seal of the Trust shall, subject to alteration by the Trustees, consist of a
flat-faced circular die with the word "Massachusetts" together with the name of
the Trust and the year of its organization, cut or engraved thereon; but, unless
otherwise required by the Trustees, the seal shall not be necessary to be placed
on, and its absence shall not impair the validity of, any document, instrument
or other paper executed and delivered by or on behalf of the Trust.
Section 10. Execution of Papers
Except as the Trustees may generally or in particular cases authorize the
execution thereof in some other manner, all deeds, leases, transfers, contracts,
bonds, notes, checks, drafts and other obligations made, accepted or endorsed by
the Trust shall be signed, and all transfers of securities standing in the name
of the Trust shall be executed, by the president or by one of the vice
presidents or by the treasurer or by whomsoever else shall be designated for
that purpose by the vote of the Trustees and need not bear the seal of the
Trust.
Section 11. Fiscal Year
Except as from time to time otherwise provided by the Trustees, President,
Secretary, Controller or Treasurer, the fiscal year of the Trust shall end on
December 31.
Section 12. Amendments
These By-Laws may be amended or repealed, in whole or in part, by a majority of
the Trustees then in office at any meeting of the Trustees, or by one or more
writings signed by such a majority.
