EX-99.28.A 3 dex9928a.htm ARTICLES OF AMENDMENT AND RESTATEMENT ARE INCORPORATED BY REFERENCE Articles of Amendment and Restatement are incorporated by reference

MAXIM SERIES FUND, INC.

ARTICLES OF AMENDMENT

Maxim Series Fund, Inc., a Maryland corporation (the “Corporation”), in accordance with Section 2-607 of the Maryland General Corporation Law, hereby certifies as follows:

FIRST: The charter of the Corporation is hereby amended by changing the name of the class of common stock currently named “Common Stock,” as set forth in Article V of the Corporation’s Articles of Amendment and Restatement, to “Initial Class” for the following series of shares of the Corporation’s capital stock:

 

Series/Portfolio

Maxim Stock Index

Maxim Bond Index

Maxim U.S. Government Mortgage Securities

Maxim Index 600

Maxim Putnam High Yield Bond

Maxim Janus Large Cap Growth

Maxim MFS International Growth

Maxim Federated Bond

Maxim MFS International Value

Maxim S&P 500 Index

Maxim MidCap Value

Maxim Small-Cap Value

Maxim Ariel MidCap Value

Maxim Ariel Small-Cap Value

Maxim Loomis Sayles Small-Cap Value

Maxim Loomis Sayles Bond

Maxim T. Rowe Price Equity/Income

Maxim Small-Cap Growth

Maxim Invesco ADR

Maxim Short Duration Bond

Maxim T. Rowe Price MidCap Growth

Maxim Templeton Global Bond

Maxim Conservative Profile I

Maxim Moderately Conservative Profile I

Maxim Moderate Profile I

Maxim Moderately Aggressive Profile I

Maxim Aggressive Profile I

Maxim Conservative Profile II

Maxim Moderately Conservative Profile II

Maxim Moderate Profile II

Maxim Moderately Aggressive Profile II

Maxim Aggressive Profile II

SECOND: The amendment was approved by a majority of the entire Board of Directors, and is limited to a change expressly authorized by Section 2-605 of the Maryland General Corporation Law to be made without action by the stockholders.

IN WITNESS WHEREOF, the Corporation has caused these Articles of Amendment to be signed in its name and on its behalf on this 1st day of July 2011, by its President and Chief Executive Officer, who acknowledges that these Articles of Amendment are the act of the Corporation, and certifies that, to the

 

1

best of his knowledge, information and belief, all matters and facts set forth in these Articles of Amendment are true in all material respects, and that this statement is made under penalties of perjury.

 

MAXIM SERIES FUND, INC.

/s/ M.T.G. Graye

Name:

  

M.T.G. Graye

Title:

  

President and Chief Executive Officer

 

ATTEST:

/s/ R.L. Logsdon

Name:

  

R.L. Logsdon

Title:

  

Assistant Vice President, Counsel and

 

Secretary

 

2

MAXIM SERIES FUND, INC.

ARTICLES OF AMENDMENT

Maxim Series Fund, Inc., a Maryland corporation (the “Corporation”), in accordance with Section 2-607 of the Maryland General Corporation Law, hereby certifies as follows:

FIRST: The charter of the Corporation is hereby amended by adding the following provision at the end of Article V of the Corporation’s Articles of Amendment and Restatement:

With respect to each of the following Portfolios, the establishment of the Portfolio with a single class of shares initially shall not be construed to limit in any manner the power of the Board of Directors, as set forth in these Articles of Amendment and Restatement, to authorize the issuance from time to time of shares of any new class or classes of shares of the Portfolio, whether now or hereafter authorized, subject to such limitations as may be set forth in these Articles of Amendment and Restatement or in the by-laws of the Corporation or in the General Corporation Law of the State of Maryland:

 

Series/Portfolio

Maxim Stock Index

Maxim Bond Index

Maxim U.S. Government Mortgage Securities

Maxim Index 600

Maxim Putnam High Yield Bond

Maxim Janus Large Cap Growth

Maxim MFS International Growth

Maxim Federated Bond

Maxim MFS International Value

Maxim S&P 500 Index

Maxim MidCap Value

Maxim Small-Cap Value

Maxim Ariel MidCap Value

Maxim Ariel Small-Cap Value

Maxim Loomis Sayles Small-Cap Value

Maxim Loomis Sayles Bond

Maxim T. Rowe Price Equity/Income

Maxim Small-Cap Growth

Maxim Invesco ADR

Maxim Short Duration Bond

Maxim T. Rowe Price MidCap Growth

Maxim Templeton Global Bond

Maxim Conservative Profile I

Maxim Moderately Conservative Profile I

Maxim Moderate Profile I

Maxim Moderately Aggressive Profile I

Maxim Aggressive Profile I

Maxim Conservative Profile II

Maxim Moderately Conservative Profile II

Maxim Moderate Profile II

Maxim Moderately Aggressive Profile II

Series/Portfolio

Maxim Aggressive Profile II

SECOND: The amendment was advised by the board of directors and approved by the stockholders.

IN WITNESS WHEREOF, the Corporation has caused these Articles of Amendment to be signed in its name and on its behalf on this 1st day of July 2011, by its President and Chief Executive Officer, who acknowledges that these Articles of Amendment are the act of the Corporation, and certifies that, to the best of his knowledge, information and belief, all matters and facts set forth in these Articles of Amendment are true in all material respects, and that this statement is made under penalties of perjury.

 

MAXIM SERIES FUND, INC.

/s/ M.T.G. Graye

Name:

  

M.T.G. Graye

Title:

  

President and Chief Executive Officer

 

ATTEST:

/s/ R.L. Logsdon

Name:

  

R.L. Logsdon

Title:

  

Assistant Vice President, Counsel and

 

Secretary

ARTICLES SUPPLEMENTARY

MAXIM SERIES FUND, INC.

Maxim Series Fund, Inc. (the “Corporation”), a Maryland corporation, hereby certifies to the State Department of Assessments and Taxation of Maryland that:

FIRST: On June 16, 2011, the Board of Directors of the Corporation, pursuant to the authority contained in the Corporation’s charter, and in accordance with Section 2-105(c) of the Maryland General Corporation Law, unanimously adopted resolutions approving:

1. An increase in the total number of shares of capital stock which the Corporation shall have authority to issue from EIGHT BILLION (8,000,000,000) shares of the par value of Ten Cents ($0.10) per share and of the aggregate par value of $800,000,000 to ELEVEN BILLION (11,000,000,000) shares of the par value of Ten Cents ($0.10) per share and of the aggregate par value of $1,100,000,000.

2. The establishment of a new series of capital stock of the Corporation, representing interests in a separate investment portfolio, and the creation of multiple classes of shares of Common Stock, with a par value of Ten Cents ($0.10) per share, of such series to be designated as follows:

 

Series/Portfolio

   

Class

Maxim SecureFoundationSM Balanced ETF Portfolio

    Class A

Maxim SecureFoundationSM Balanced ETF Portfolio

    Class S

3. The creation of a new class of shares to be designated “Class L” for each of the following series:

 

Series/Portfolio

Maxim Stock Index

Maxim Bond Index

Maxim U.S. Government Mortgage Securities

Maxim Index 600

Maxim Putnam High Yield Bond

Maxim Janus Large Cap Growth

Maxim MFS International Growth

Maxim Federated Bond

Maxim MFS International Value

Maxim S&P 500 Index

Maxim MidCap Value

Maxim Small-Cap Value

Maxim Ariel MidCap Value

Maxim Ariel Small-Cap Value

Maxim Loomis Sayles Small-Cap Value

Maxim Loomis Sayles Bond

Maxim T. Rowe Price Equity/Income

Maxim Small-Cap Growth

Maxim Invesco ADR

Maxim Short Duration Bond

Maxim T. Rowe Price MidCap Growth

Maxim Templeton Global Bond

Maxim Conservative Profile I

Maxim Moderately Conservative Profile I

Maxim Moderate Profile I

Series/Portfolio

Maxim Moderately Aggressive Profile I

Maxim Aggressive Profile I

Maxim Conservative Profile II

Maxim Moderately Conservative Profile II

Maxim Moderate Profile II

Maxim Moderately Aggressive Profile II

Maxim Aggressive Profile II

and

4. The classification of One Billion One Hundred Ninety Million (1,190,000,000) shares of the Corporation’s authorized but unissued stock to be allocated among the aforementioned new series and classes of capital stock as hereinafter set forth.

SECOND: The description of each of the aforementioned new series and classes of capital stock of the Corporation, including the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends, qualifications, and terms and conditions of redemption, is as set forth in the Corporation’s charter, except that, notwithstanding anything in the charter to the contrary, with respect to the Maxim SecureFoundationSM Balanced ETF Portfolio:

(i) Subject to compliance with the requirements of the Investment Company Act of 1940, as amended, the Board of Directors shall have the authority to provide that holders of shares of any of the aforementioned classes of stock of such series shall have the right to convert or exchange said shares into shares of one or more other classes of shares in accordance with such requirements and procedures (and subject to such conditions) as may be established by the Board of Directors and from time to time reflected in the registration statement of the Corporation.

(ii) At such times as may be determined by the Board of Directors in accordance with the Investment Company Act of 1940, as amended, and applicable rules and regulations of the Financial Industry Regulatory Authority, or any successor organization, and from time to time reflected in the registration statement of the Corporation, shares (or certain shares) of a particular class of the aforementioned classes of stock of such series may be automatically converted into shares of another class of shares, subject, however, to any conditions of conversion that may be imposed by the Board of Directors and reflected in the registration statement of the Corporation. The term and conditions of such conversion may vary within and among the classes to the extent determined by the Board of Directors and set forth in the registration statement of the Corporation.

THIRD: The aforementioned new series and classes of capital stock of the Corporation have been classified by the Board of Directors under the authority contained in the Corporation’s charter.

FOURTH: The total number of shares of capital stock that the Corporation has authority to issue has been increased by the Board of Directors in accordance with Section 2-105(c) of the Maryland General Corporation Law.

FIFTH: Both as of immediately before the increase and as increased: (i) the total number of shares of stock of all classes that the Corporation has authority to issue is Eight Billion (8,000,000,000) shares and Eleven Billion (11,000,000,000), respectively, (ii) the number of shares of stock of each class is as set forth in the table below, (iii) the par value of the shares of stock of each class is Ten Cents ($.10) per share, and (iv) the aggregate par value of all the shares of all classes is Eight Hundred Million Dollars ($800,000,000) and One Billion One Hundred Million Dollars ($1,100,000,000), respectively.

          

Authorized Shares

(expressed in

millions)

Series/Portfolio

   

Class

   

Before

   

After

Maxim Money Market

    Common Stock    1,000    1,000

Maxim Stock Index

    Initial Class    90    90

Maxim Stock Index

    Class L    0    35

Maxim Bond Index

    Initial Class    105    105

Maxim Bond Index

    Class L    0    35

Maxim U.S. Government Mortgage Securities

    Initial Class    90    90

Maxim U.S. Government Mortgage Securities

    Class L    0    35

Maxim Index 600

    Initial Class    100    100

Maxim Index 600

    Class L    0    35

Maxim Putnam High Yield Bond

    Initial Class    100    100

Maxim Putnam High Yield Bond

    Class L    0    35

Maxim Janus Large Cap Growth

    Initial Class    100    100

Maxim Janus Large Cap Growth

    Class L    0    35

Maxim MFS International Growth

    Initial Class    100    100

Maxim MFS International Growth

    Class L    0    35

Maxim Federated Bond

    Initial Class    100    100

Maxim Federated Bond

    Class L    0    35

Maxim MFS International Value

    Initial Class    79    79

Maxim MFS International Value

    Class L    0    35

Maxim S&P 500 Index

    Initial Class    100    100

Maxim S&P 500 Index

    Class L    0    35

Maxim MidCap Value

    Initial Class    85    85

Maxim MidCap Value

    Class L    0    35

Maxim Small-Cap Value

    Initial Class    110    110

Maxim Small-Cap Value

    Class L    0    35

Maxim Ariel MidCap Value

    Initial Class    100    100

Maxim Ariel MidCap Value

    Class L    0    35

Maxim Ariel Small-Cap Value

    Initial Class    85    85

Maxim Ariel Small-Cap Value

    Class L    0    35

Maxim Loomis Sayles Small-Cap Value

    Initial Class    90    90

Maxim Loomis Sayles Small-Cap Value

    Class L    0    35

Maxim Loomis Sayles Bond

    Initial Class    100    100

Maxim Loomis Sayles Bond

    Class L    0    35

Maxim T. Rowe Price Equity/Income

    Initial Class    125    125

Maxim T. Rowe Price Equity/Income

    Class L    0    35

Maxim Small-Cap Growth

    Initial Class    90    90

Maxim Small-Cap Growth

    Class L    0    35

Maxim Invesco ADR

    Initial Class    100    100

Maxim Invesco ADR

    Class L    0    35

Maxim Short Duration Bond

    Initial Class    85    85

Maxim Short Duration Bond

    Class L    0    35

Maxim T. Rowe Price MidCap Growth

    Initial Class    110    110

Maxim T. Rowe Price MidCap Growth

    Class L    0    35

Maxim Templeton Global Bond

    Initial Class    100    100

Maxim Templeton Global Bond

    Class L    0    35

Maxim S&P MidCap 400® Index

    Initial Class    52.5    52.5

Maxim S&P MidCap 400® Index

    Class L    33    33

Maxim International Index

    Initial Class    52.5    52.5

Maxim International Index

    Class L    33    33

          

Authorized Shares

(expressed in

millions)

Series/Portfolio

   

Class

   

Before

   

After

Maxim Putnam Equity Income

    Initial Class    52.5    52.5

Maxim Putnam Equity Income

    Class L    33    33

Maxim American Century Growth

    Initial Class    52.5    52.5

Maxim American Century Growth

    Class L    33    33

Maxim Conservative Profile I

    Initial Class    100    100

Maxim Conservative Profile I

    Class L    0    35

Maxim Moderately Conservative Profile I

    Initial Class    100    100

Maxim Moderately Conservative Profile I

    Class L    0    35

Maxim Moderate Profile I

    Initial Class    100    100

Maxim Moderate Profile I

    Class L    0    35

Maxim Moderately Aggressive Profile I

    Initial Class    100    100

Maxim Moderately Aggressive Profile I

    Class L    0    35

Maxim Aggressive Profile I

    Initial Class    100    100

Maxim Aggressive Profile I

    Class L    0    35

Maxim Conservative Profile II

    Initial Class    100    100

Maxim Conservative Profile II

    Class L    0    35

Maxim Moderately Conservative Profile II

    Initial Class    100    100

Maxim Moderately Conservative Profile II

    Class L    0    35

Maxim Moderate Profile II

    Initial Class    200    200

Maxim Moderate Profile II

    Class L    0    35

Maxim Moderately Aggressive Profile II

    Initial Class    100    100

Maxim Moderately Aggressive Profile II

    Class L    0    35

Maxim Aggressive Profile II

    Initial Class    175    175

Maxim Aggressive Profile II

    Class L    0    35

Maxim Lifetime 2015 I

    Class T    45    45

Maxim Lifetime 2015 I

    Class T1    45    45

Maxim Lifetime 2015 I

    Class L    33    33

Maxim Lifetime 2015 II

    Class T    45    45

Maxim Lifetime 2015 II

    Class T1    45    45

Maxim Lifetime 2015 II

    Class L    33    33

Maxim Lifetime 2015 III

    Class T    45    45

Maxim Lifetime 2015 III

    Class T1    45    45

Maxim Lifetime 2015 III

    Class L    33    33

Maxim Lifetime 2025 I

    Class T    45    45

Maxim Lifetime 2025 I

    Class T1    45    45

Maxim Lifetime 2025 I

    Class L    33    33

Maxim Lifetime 2025 II

    Class T    45    45

Maxim Lifetime 2025 II

    Class T1    45    45

Maxim Lifetime 2025 II

    Class L    33    33

Maxim Lifetime 2025 III

    Class T    45    45

Maxim Lifetime 2025 III

    Class T1    45    45

Maxim Lifetime 2025 III

    Class L    33    33

Maxim Lifetime 2035 I

    Class T    45    45

Maxim Lifetime 2035 I

    Class T1    45    45

Maxim Lifetime 2035 I

    Class L    33    33

Maxim Lifetime 2035 II

    Class T    45    45

Maxim Lifetime 2035 II

    Class T1    45    45

Maxim Lifetime 2035 II

    Class L    33    33

Maxim Lifetime 2035 III

    Class T    45    45

          

Authorized Shares

(expressed in

millions)

Series/Portfolio

   

Class

   

Before

   

After

Maxim Lifetime 2035 III

    Class T1    45    45

Maxim Lifetime 2035 III

    Class L    33    33

Maxim Lifetime 2045 I

    Class T    45    45

Maxim Lifetime 2045 I

    Class T1    45    45

Maxim Lifetime 2045 I

    Class L    33    33

Maxim Lifetime 2045 II

    Class T    45    45

Maxim Lifetime 2045 II

    Class T1    45    45

Maxim Lifetime 2045 II

    Class L    33    33

Maxim Lifetime 2045 III

    Class T    45    45

Maxim Lifetime 2045 III

    Class T1    45    45

Maxim Lifetime 2045 III

    Class L    33    33

Maxim Lifetime 2055 I

    Class T    45    45

Maxim Lifetime 2055 I

    Class T1    45    45

Maxim Lifetime 2055 I

    Class L    33    33

Maxim Lifetime 2055 II

    Class T    45    45

Maxim Lifetime 2055 II

    Class T1    45    45

Maxim Lifetime 2055 II

    Class L    33    33

Maxim Lifetime 2055 III

    Class T    45    45

Maxim Lifetime 2055 III

    Class T1    45    45

Maxim Lifetime 2055 III

    Class L    33    33

Maxim SecureFoundationSM Balanced

    Class G    75    75

Maxim SecureFoundationSM Balanced

    Class G1    75    75

Maxim SecureFoundationSM Balanced

    Class L    33    33

Maxim SecureFoundationSM Balanced ETF

    Class A    0    35

Maxim SecureFoundationSM Balanced ETF

    Class S    0    35

Maxim SecureFoundationSM Lifetime 2015

    Class G    75    75

Maxim SecureFoundationSM Lifetime 2015

    Class G1    75    75

Maxim SecureFoundationSM Lifetime 2015

    Class L    33    33

Maxim SecureFoundationSM Lifetime 2020

    Class G    33    33

Maxim SecureFoundationSM Lifetime 2020

    Class G1    33    33

Maxim SecureFoundationSM Lifetime 2020

    Class L    33    33

Maxim SecureFoundationSM Lifetime 2025

    Class G    75    75

Maxim SecureFoundationSM Lifetime 2025

    Class G1    75    75

Maxim SecureFoundationSM Lifetime 2025

    Class L    33    33

Maxim SecureFoundationSM Lifetime 2030

    Class G    33    33

Maxim SecureFoundationSM Lifetime 2030

    Class G1    33    33

Maxim SecureFoundationSM Lifetime 2030

    Class L    33    33

Maxim SecureFoundationSM Lifetime 2035

    Class G    75    75

Maxim SecureFoundationSM Lifetime 2035

    Class G1    75    75

Maxim SecureFoundationSM Lifetime 2035

    Class L    33    33

Maxim SecureFoundationSM Lifetime 2040

    Class G    33    33

Maxim SecureFoundationSM Lifetime 2040

    Class G1    33    33

Maxim SecureFoundationSM Lifetime 2040

    Class L    33    33

Maxim SecureFoundationSM Lifetime 2045

    Class G    75    75

Maxim SecureFoundationSM Lifetime 2045

    Class G1    75    75

Maxim SecureFoundationSM Lifetime 2045

    Class L    33    33

Maxim SecureFoundationSM Lifetime 2050

    Class G    33    33

Maxim SecureFoundationSM Lifetime 2050

    Class G1    33    33

Maxim SecureFoundationSM Lifetime 2050

    Class L    33    33

          

Authorized Shares

(expressed in

millions)

Series/Portfolio

   

Class

   

Before

   

After

Maxim SecureFoundationSM Lifetime 2055

    Class G    75    75

Maxim SecureFoundationSM Lifetime 2055

    Class G1    75    75

Maxim SecureFoundationSM Lifetime 2055

    Class L    33    33

Unclassified Capital Stock:

       0    1,810

Total:

       8,000    11,000

SIXTH: The Corporation is registered as an open-end company under the Investment Company of 1940.

IN WITNESS WHEREOF, the Corporation has caused these Articles Supplementary to be signed in its name and on its behalf by its President and Chief Executive Officer and attested by its Secretary this 2nd day of July 2011, and the undersigned officers acknowledge that these Articles Supplementary are the act of the Corporation, and certify that, to the best of their knowledge, information and belief all matters and facts set forth herein are true in all material respects, and that this statement is made under the penalties of perjury.

 

MAXIM SERIES FUND, INC.

/s/ M.T.G. Graye

Name:

  

M.T.G. Graye

Title:

  

President and Chief Executive Officer

 

ATTEST:

/s/ R.L. Logsdon

Name:

  

R.L. Logsdon

Title:

  

Assistant Vice President, Counsel &
Secretary