EX-99.B-(A)(15) 2 a2161959zex-99_ba15.txt EX 99.B-(A)(15) Exhibit 99.B(A)(15) ARTICLES SUPPLEMENTARY TO ARTICLES OF INCORPORATION OF ING PARTNERS, INC. ING Partners, Inc., a Maryland corporation having its principal office in Baltimore, Maryland (the "Corporation"), hereby certifies to the State Department of Assessments and Taxation of Maryland that: FIRST: The Corporation is registered as an open-end, management investment company under the Investment Company Act of 1940, as amended (the "Investment Company Act") SECOND: The total number of shares of Capital Stock that the Corporation currently has authority to issue is Ten Billion, Seven Hundred Million (10,700,000,000), with a par value of one-tenth of one cent ($.001) per share, and an aggregate par value of Ten Million, Seven Hundred Thousand Dollars ($10,700,000); THIRD: The Board of Directors of the Corporation, at a meeting duly convened and held on May 12, 2005, adopted resolutions classifying Five Hundred million (500,000,000) authorized and unissued shares of Capital Stock of the Corporation, thereby increasing the number of shares of Capital Stock that are classified (but not increasing the aggregate number of authorized shares), as follows:
NAME OF CLASS SHARES ALLOCATED ------------- ---------------- ING Solution 2015 Portfolio - Class T 100,000,000 ING Solution 2025 Portfolio - Class T 100,000,000 ING Solution 2035 Portfolio - Class T 100,000,000 ING Solution 2045 Portfolio - Class T 100,000,000 ING Solution Income Portfolio - Class T 100,000,000
FOURTH: Section 4.1 A description of the shares of Capital Stock of the Corporation classified in Article THIRD with the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends, qualifications and terms and conditions of redemption as set or changed by the Board of Directors of the Corporation is as follows: The shares of ING Solution 2015 Portfolio - Class T shall represent an investment in a common investment portfolio. The shares of ING Solution 2025 Portfolio - Class T shall represent an investment in a common investment portfolio. The shares of ING Solution 2035 Portfolio - Class T shall represent an investment in a common investment portfolio. The shares of ING Solution 2045 Portfolio - Class T shall represent an investment in a common investment portfolio. The shares of ING Solution Income Portfolio - Class T shall represent an investment in a common investment portfolio. Section 4.2 A description of the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends, qualifications and terms and conditions of redemption of each class of Capital Stock of the Corporation (each hereinafter referred to as a "Class") and each common investment portfolio of the Corporation (each hereinafter referred to as a "Portfolio") is set forth in the Corporation's Charter with respect to its shares generally and to the following: (i) Except for the differences set forth below or elsewhere in the Charter of the Corporation or required by law, each Class invested in a common Portfolio shall have the same preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends, qualifications, and terms and conditions of redemption as each other Class invested in such Portfolio. (ii) The investment income and losses, capital gains and losses, and expenses and liabilities of each Portfolio shall be allocated among the Classes invested in such Portfolio in such manner as may be determined by the Board of Directors in accordance with law and the Corporation's multiple class plan (the "Plan"), adopted in accordance with Rule 18f-3 under the Investment Company Act of 1940, as amended, as such Plan may then be in effect. (iii) The liabilities and expenses attributable to the respective Classes invested in a common Portfolio shall be determined separately from those of each other and, accordingly, the net asset values, the dividends and distributions payable to holders, and the amounts distributable in the event of liquidation of the Corporation or of the Portfolio to holders of shares invested in the Portfolio may vary between the Classes. (iv) Except as may otherwise be provided in the Plan or by law, the holders of shares of each Class invested in a common Portfolio shall have, respectively, exclusive voting rights with respect to any matter submitted to a vote of stockholders that only affects the holders of the respective Class, and no voting rights with respect to any matter submitted to a vote of stockholders that does not affect holders of that Class. Section 4.3 Subject to compliance with the requirements of the Investment Company Act and the satisfaction of the conditions described herein, and without any action by the holders of shares, the Corporation, on behalf of ING Solution 2015 Portfolio, ING Solution 2025 Portfolio, ING Solution 2035 Portfolio, ING Solution 2045 Portfolio and ING Solution Income Portfolio, shall effect the transactions described below (each, a "Reorganization"): 2 (i) As of the close of business on a date set by the Board of Directors (i) the assets and liabilities belonging to the shares of ING Solution 2015 Portfolio - Class T shall automatically be exchanged for that number of shares of the ING Solution Income Portfolio having the aggregate net asset value equal to the aggregate net asset value of the shares of ING Solution 2015 Portfolio - Class T and (ii) such shares of ING Solution Income Portfolio shall be issued and distributed to the holders of shares of ING Solution 2015 Portfolio - Class T in complete liquidation of the ING Solution 2015 Portfolio - Class T and acquisition of all such outstanding shares of ING Solution 2015 Portfolio - Class T. (ii) As of the close of business on a date set by the Board of Directors (i) the assets and liabilities belonging to the shares of ING Solution 2025 Portfolio - Class T shall automatically be exchanged for that number of shares of the ING Solution Income Portfolio having the aggregate net asset value equal to the aggregate net asset value of the shares of ING Solution 2025 Portfolio - Class T and (ii) such shares of ING Solution Income Portfolio shall be issued and distributed to the holders of shares of ING Solution 2025 Portfolio - Class T in complete liquidation of the ING Solution 2025 Portfolio - Class T and acquisition of all such outstanding shares of ING Solution 2025 Portfolio - Class T. (iii) As of the close of business on a date set by the Board of Directors (i) the assets and liabilities belonging to the shares of ING Solution 2035 Portfolio - Class T shall automatically be exchanged for that number of shares of the ING Solution Income Portfolio having the aggregate net asset value equal to the aggregate net asset value of the shares of ING Solution 2035 Portfolio - Class T and (ii) such shares of ING Solution Income Portfolio shall be issued and distributed to the holders of shares of ING Solution 2035 Portfolio - Class T in complete liquidation of the ING Solution 2035 Portfolio - Class T and acquisition of all such outstanding shares of ING Solution 2035 Portfolio - Class T. (iv) As of the close of business on a date set by the Board of Directors (i) the assets and liabilities belonging to the shares of ING Solution 2045 Portfolio - Class T shall automatically be exchanged for that number of shares of the ING Solution Income Portfolio having the aggregate net asset value equal to the aggregate net asset value of the shares of ING Solution 2045 Portfolio - Class T and (ii) such shares of ING Solution Income Portfolio shall be issued and distributed to the holders of shares of ING Solution 2045 Portfolio - Class T in complete liquidation of the ING Solution 2045 Portfolio - Class T and acquisition of all such outstanding shares of ING Solution 2045 Portfolio - Class T. As of the date of a Reorganization, the number of authorized shares of the applicable Class of ING Solution Income Portfolio will increase by such number of shares of the ING Solution Income Portfolio to be issued and distributed as described above. Upon the completion of a Reorganization, the authorized but unissued shares of the reorganizing Portfolio, and the outstanding shares of such Portfolio acquired by such Portfolio pursuant to the liquidation of such Portfolio, shall return to the status of authorized but unissued shares of stock without classification or designation as to class or series. The date set by the Board of Directors for any Reorganization shall be no earlier than the applicable Target Date (as defined with respect to each Portfolio in the Registration Statement covering the shares of such Portfolio, and the form of prospectus included therein, and any amendments thereto). Notwithstanding any other 3 provision in this Section 4.3, the Reorganization of any Class of a Portfolio shall not be effective, unless the Board of Directors determines, in advance of the Reorganization, that such Reorganization is in the best interests of (i) the shareholders of each Portfolio and (ii) the Corporation. FIFTH: (a) Immediately before the classification of the additional Capital Stock as provided in Article THIRD, the number of shares of each authorized class of Capital Stock was as follows:
NAME OF CLASS SHARES ALLOCATED ------------- ---------------- ING American Century Large Company Value Portfolio - Initial Class 100,000,000 ING American Century Large Company Value Portfolio - Adviser Class 100,000,000 ING American Century Large Company Value Portfolio - Service Class 100,000,000 ING American Century Select Portfolio - Initial Class 100,000,000 ING American Century Select Portfolio - Adviser Class 100,000,000 ING American Century Select Portfolio - Service Class 100,000,000 ING American Century Small Cap Value Portfolio - Initial Class 100,000,000 ING American Century Small Cap Value Portfolio - Adviser Class 100,000,000 ING American Century Small Cap Value Portfolio - Service Class 100,000,000 ING Baron Small Cap Growth Portfolio - Initial Class 100,000,000 ING Baron Small Cap Growth Portfolio - Adviser Class 100,000,000 ING Baron Small Cap Growth Portfolio - Service Class 100,000,000 ING Fidelity(R) VIP Contrafund(R) Portfolio- Initial Class 100,000,000 ING Fidelity(R) VIP Contrafund(R) Portfolio - Adviser Class 100,000,000 ING Fidelity(R) VIP Contrafund(R) Portfolio - Service Class 100,000,000 ING Fidelity(R) VIP Equity-Income Portfolio - Initial Class 100,000,000 ING Fidelity(R) VIP Equity-Income Portfolio - Adviser Class 100,000,000 ING Fidelity(R) VIP Equity-Income Portfolio - Service Class 100,000,000 ING Fidelity(R) VIP Growth Portfolio - Initial Class 100,000,000 ING Fidelity(R) VIP Growth Portfolio - Adviser Class 100,000,000 ING Fidelity(R) VIP Growth Portfolio - Service Class 100,000,000 ING Fidelity(R) VIP Mid Cap Portfolio - Initial Class 100,000,000 ING Fidelity(R) VIP Mid Cap Portfolio - Adviser Class 100,000,000 ING Fidelity(R) VIP Mid Cap Portfolio - Service Class 100,000,000 ING Fundamental Research Portfolio - Initial Class 100,000,000 ING Fundamental Research Portfolio - Adviser Class 100,000,000 ING Fundamental Research Portfolio - Service Class 100,000,000 ING Goldman Sachs(R) Capital Growth Portfolio - Initial Class 100,000,000 ING Goldman Sachs(R) Capital Growth Portfolio - Adviser Class 100,000,000 ING Goldman Sachs(R) Capital Growth Portfolio - Service Class 100,000,000 ING Goldman Sachs(R) Core Equity Portfolio - Initial Class 100,000,000 ING Goldman Sachs(R) Core Equity Portfolio - Adviser Class 100,000,000 ING Goldman Sachs(R) Core Equity Portfolio - Service Class 100,000,000 ING JPMorgan Fleming International Portfolio - Initial Class 100,000,000 ING JPMorgan Fleming International Portfolio - Adviser Class 100,000,000
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NAME OF CLASS SHARES ALLOCATED ------------- ---------------- ING JPMorgan Fleming International Portfolio - Service Class 100,000,000 ING JPMorgan Mid Cap Value Portfolio - Initial Class 100,000,000 ING JPMorgan Mid Cap Value Portfolio - Adviser Class 100,000,000 ING JPMorgan Mid Cap Value Portfolio - Service Class 100,000,000 ING MFS Capital Opportunities Portfolio - Initial Class 100,000,000 ING MFS Capital Opportunities Portfolio - Adviser Class 100,000,000 ING MFS Capital Opportunities Portfolio - Service Class 100,000,000 ING OpCap Balanced Value Portfolio - Initial Class 100,000,000 ING OpCap Balanced Value Portfolio - Adviser Class 100,000,000 ING OpCap Balanced Value Portfolio - Service Class 100,000,000 ING Oppenheimer Global Portfolio- Initial Class 250,000,000 ING Oppenheimer Global Portfolio- Adviser Class 100,000,000 ING Oppenheimer Global Portfolio- Service Class 100,000,000 ING Oppenheimer Strategic Income Portfolio - Initial Class 100,000,000 ING Oppenheimer Strategic Income Portfolio - Adviser Class 100,000,000 ING Oppenheimer Strategic Income Portfolio - Service Class 100,000,000 ING PIMCO Total Return Portfolio - Initial Class 100,000,000 ING PIMCO Total Return Portfolio - Adviser Class 100,000,000 ING PIMCO Total Return Portfolio - Service Class 100,000,000 ING Salomon Brothers Aggressive Growth Portfolio - Initial Class 100,000,000 ING Salomon Brothers Aggressive Growth Portfolio - Adviser Class 100,000,000 ING Salomon Brothers Aggressive Growth Portfolio - Service Class 100,000,000 ING Salomon Brothers Fundamental Value Portfolio - Initial Class 100,000,000 ING Salomon Brothers Fundamental Value Portfolio - Adviser Class 100,000,000 ING Salomon Brothers Fundamental Value Portfolio - Service Class 100,000,000 ING Salomon Brothers Large Cap Growth Portfolio - Initial Class 100,000,000 ING Salomon Brothers Large Cap Growth Portfolio - Adviser Class 100,000,000 ING Salomon Brothers Large Cap Growth Portfolio - Service Class 100,000,000 ING Solution 2015 Portfolio - Initial Class 100,000,000 ING Solution 2015 Portfolio - Adviser Class 100,000,000 ING Solution 2015 Portfolio - Service Class 100,000,000 ING Solution 2025 Portfolio - Initial Class 100,000,000 ING Solution 2025 Portfolio - Adviser Class 100,000,000 ING Solution 2025 Portfolio - Service Class 100,000,000 ING Solution 2035 Portfolio - Initial Class 100,000,000 ING Solution 2035 Portfolio - Adviser Class 100,000,000 ING Solution 2035 Portfolio - Service Class 100,000,000 ING Solution 2045 Portfolio - Initial Class 100,000,000 ING Solution 2045 Portfolio - Adviser Class 100,000,000 ING Solution 2045 Portfolio - Service Class 100,000,000 ING Solution Income Portfolio - Initial Class 100,000,000 ING Solution Income Portfolio - Adviser Class 100,000,000 ING Solution Income Portfolio - Service Class 100,000,000 ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Initial Class 250,000,000
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NAME OF CLASS SHARES ALLOCATED ------------- ---------------- ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Adviser Class 100,000,000 ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Service Class 100,000,000 ING T. Rowe Price Growth Equity Portfolio - Initial Class 100,000,000 ING T. Rowe Price Growth Equity Portfolio - Adviser Class 100,000,000 ING T. Rowe Price Growth Equity Portfolio - Service Class 100,000,000 ING UBS U.S. Large Cap Equity Portfolio - Initial Class 100,000,000 ING UBS U.S. Large Cap Equity Portfolio - Adviser Class 100,000,000 ING UBS U.S. Large Cap Equity Portfolio - Service Class 100,000,000 ING Van Kampen Comstock Portfolio - Initial Class 100,000,000 ING Van Kampen Comstock Portfolio - Adviser Class 100,000,000 ING Van Kampen Comstock Portfolio - Service Class 100,000,000 ING Van Kampen Equity and Income Portfolio - Initial Class 100,000,000 ING Van Kampen Equity and Income Portfolio - Adviser Class 100,000,000 ING Van Kampen Equity and Income Portfolio - Service Class 100,000,000
for a total of nine billion, six hundred million (9,600,000,000) shares classified into separate classes of Capital Stock, with one billion, one hundred million (1,100,000,000) being unclassified. (b) After the classification of the additional Capital Stock, as provided in Article THIRD, the number of shares of each authorized class of Capital Stock is as follows:
NAME OF CLASS SHARES ALLOCATED ------------- ---------------- ING American Century Large Company Value Portfolio - Initial Class 100,000,000 ING American Century Large Company Value Portfolio - Adviser Class 100,000,000 ING American Century Large Company Value Portfolio - Service Class 100,000,000 ING American Century Select Portfolio - Initial Class 100,000,000 ING American Century Select Portfolio - Adviser Class 100,000,000 ING American Century Select Portfolio - Service Class 100,000,000 ING American Century Small Cap Value Portfolio - Initial Class 100,000,000 ING American Century Small Cap Value Portfolio - Adviser Class 100,000,000 ING American Century Small Cap Value Portfolio - Service Class 100,000,000 ING Baron Small Cap Growth Portfolio - Initial Class 100,000,000 ING Baron Small Cap Growth Portfolio - Adviser Class 100,000,000 ING Baron Small Cap Growth Portfolio - Service Class 100,000,000 ING Fidelity(R) VIP Contrafund(R) Portfolio- Initial Class 100,000,000 ING Fidelity(R) VIP Contrafund(R) Portfolio - Adviser Class 100,000,000 ING Fidelity(R) VIP Contrafund(R) Portfolio - Service Class 100,000,000 ING Fidelity(R) VIP Equity-Income Portfolio - Initial Class 100,000,000 ING Fidelity(R) VIP Equity-Income Portfolio - Adviser Class 100,000,000 ING Fidelity(R) VIP Equity-Income Portfolio - Service Class 100,000,000 ING Fidelity(R) VIP Growth Portfolio - Initial Class 100,000,000 ING Fidelity(R) VIP Growth Portfolio - Adviser Class 100,000,000
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NAME OF CLASS SHARES ALLOCATED ------------- ---------------- ING Fidelity(R) VIP Growth Portfolio - Service Class 100,000,000 ING Fidelity(R) VIP Mid Cap Portfolio - Initial Class 100,000,000 ING Fidelity(R) VIP Mid Cap Portfolio - Adviser Class 100,000,000 ING Fidelity(R) VIP Mid Cap Portfolio - Service Class 100,000,000 ING Fundamental Research Portfolio - Initial Class 100,000,000 ING Fundamental Research Portfolio - Adviser Class 100,000,000 ING Fundamental Research Portfolio - Service Class 100,000,000 ING Goldman Sachs(R) Capital Growth Portfolio - Initial Class 100,000,000 ING Goldman Sachs(R) Capital Growth Portfolio - Adviser Class 100,000,000 ING Goldman Sachs(R) Capital Growth Portfolio - Service Class 100,000,000 ING Goldman Sachs(R) Core Equity Portfolio - Initial Class 100,000,000 ING Goldman Sachs(R) Core Equity Portfolio - Adviser Class 100,000,000 ING Goldman Sachs(R) Core Equity Portfolio - Service Class 100,000,000 ING JPMorgan Fleming International Portfolio - Initial Class 100,000,000 ING JPMorgan Fleming International Portfolio - Adviser Class 100,000,000 ING JPMorgan Fleming International Portfolio - Service Class 100,000,000 ING JPMorgan Mid Cap Value Portfolio - Initial Class 100,000,000 ING JPMorgan Mid Cap Value Portfolio - Adviser Class 100,000,000 ING JPMorgan Mid Cap Value Portfolio - Service Class 100,000,000 ING MFS Capital Opportunities Portfolio - Initial Class 100,000,000 ING MFS Capital Opportunities Portfolio - Adviser Class 100,000,000 ING MFS Capital Opportunities Portfolio - Service Class 100,000,000 ING OpCap Balanced Value Portfolio - Initial Class 100,000,000 ING OpCap Balanced Value Portfolio - Adviser Class 100,000,000 ING OpCap Balanced Value Portfolio - Service Class 100,000,000 ING Oppenheimer Global Portfolio - Initial Class 250,000,000 ING Oppenheimer Global Portfolio - Adviser Class 100,000,000 ING Oppenheimer Global Portfolio - Service Class 100,000,000 ING Oppenheimer Strategic Income Portfolio - Initial Class 100,000,000 ING Oppenheimer Strategic Income Portfolio - Adviser Class 100,000,000 ING Oppenheimer Strategic Income Portfolio - Service Class 100,000,000 ING PIMCO Total Return Portfolio - Initial Class 100,000,000 ING PIMCO Total Return Portfolio - Adviser Class 100,000,000 ING PIMCO Total Return Portfolio - Service Class 100,000,000 ING Salomon Brothers Aggressive Growth Portfolio - Initial Class 100,000,000 ING Salomon Brothers Aggressive Growth Portfolio - Adviser Class 100,000,000 ING Salomon Brothers Aggressive Growth Portfolio - Service Class 100,000,000 ING Salomon Brothers Fundamental Value Portfolio - Initial Class 100,000,000 ING Salomon Brothers Fundamental Value Portfolio - Adviser Class 100,000,000 ING Salomon Brothers Fundamental Value Portfolio - Service Class 100,000,000 ING Salomon Brothers Large Cap Growth Portfolio - Initial Class 100,000,000 ING Salomon Brothers Large Cap Growth Portfolio - Adviser Class 100,000,000 ING Salomon Brothers Large Cap Growth Portfolio - Service Class 100,000,000 ING Solution 2015 Portfolio - Initial Class 100,000,000
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NAME OF CLASS SHARES ALLOCATED ------------- ---------------- ING Solution 2015 Portfolio - Adviser Class 100,000,000 ING Solution 2015 Portfolio - Service Class 100,000,000 ING Solution 2015 Portfolio - Class T 100,000,000 ING Solution 2025 Portfolio - Initial Class 100,000,000 ING Solution 2025 Portfolio - Adviser Class 100,000,000 ING Solution 2025 Portfolio - Service Class 100,000,000 ING Solution 2025 Portfolio - Class T 100,000,000 ING Solution 2035 Portfolio - Initial Class 100,000,000 ING Solution 2035 Portfolio - Adviser Class 100,000,000 ING Solution 2035 Portfolio - Service Class 100,000,000 ING Solution 2035 Portfolio - Class T 100,000,000 ING Solution 2045 Portfolio - Initial Class 100,000,000 ING Solution 2045 Portfolio - Adviser Class 100,000,000 ING Solution 2045 Portfolio - Service Class 100,000,000 ING Solution 2045 Portfolio - Class T 100,000,000 ING Solution Income Portfolio - Initial Class 100,000,000 ING Solution Income Portfolio - Adviser Class 100,000,000 ING Solution Income Portfolio - Service Class 100,000,000 ING Solution Income Portfolio - Class T 100,000,000 ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Initial Class 250,000,000 ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Adviser Class 100,000,000 ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Service Class 100,000,000 ING T. Rowe Price Growth Equity Portfolio - Initial Class 100,000,000 ING T. Rowe Price Growth Equity Portfolio - Adviser Class 100,000,000 ING T. Rowe Price Growth Equity Portfolio - Service Class 100,000,000 ING UBS U.S. Large Cap Equity Portfolio - Initial Class 100,000,000 ING UBS U.S. Large Cap Equity Portfolio - Adviser Class 100,000,000 ING UBS U.S. Large Cap Equity Portfolio - Service Class 100,000,000 ING Van Kampen Comstock Portfolio - Initial Class 100,000,000 ING Van Kampen Comstock Portfolio - Adviser Class 100,000,000 ING Van Kampen Comstock Portfolio - Service Class 100,000,000 ING Van Kampen Equity and Income Portfolio - Initial Class 100,000,000 ING Van Kampen Equity and Income Portfolio - Adviser Class 100,000,000 ING Van Kampen Equity and Income Portfolio - Service Class 100,000,000
for a total of ten billion, one hundred million (10,100,000,000) shares classified into separate classes of Capital Stock, with six hundred million (600,000,000) being unclassified. The undersigned President acknowledges these Articles Supplementary to be the corporate act of the Corporation and, as to all matters or facts required to be verified under oath, the undersigned President acknowledges that, to the best of his knowledge, information and belief, these matters and facts are true in all material respects and that this statement is made under the penalties for perjury. 8 IN WITNESS WHEREOF, ING Partners, Inc. has caused these presents to be signed in its name and on its behalf by its President and witnessed by its Secretary as of the ___ day of August, 2005. WITNESS: ING PARTNERS, INC. /s/ Huey P. Falgout, Jr. /s/ James M. Hennessy ---------------------------- --------------------------- Name: Huey P. Falgout, Jr. Name: James M. Hennessy Title: Secretary Title: President 9