EX-99.(I)(1) 10 dex99i1.htm LEGAL OPINION OF DRINKER BIDDLE & REATH LLP Legal Opinion of Drinker Biddle & Reath LLP

Drinker Biddle & Reath LLP

One Logan Square

18th and Cherry Streets

Philadelphia, PA 19103

(215) 988-2700 (Phone)

(215) 988-2757 (Facsimile)

www.drinkerbiddle.com

December 29, 2008

The RBB Fund, Inc.

Bellevue Park Corporate Center

103 Bellevue Parkway

Wilmington, Delaware 19809

Re: Shares Registered by Post-Effective Amendment No. 127 to Registration Statement on Form N-1A (File No. 33-20827)

Ladies and Gentlemen:

We have acted as counsel to The RBB Fund, Inc. (the “Company”) in connection with the preparation and filing with the Securities and Exchange Commission of Post-Effective Amendment No. 127 (the “Amendment”) to the Company’s Registration Statement on Form N-1A under the Securities Act of 1933, as amended. The Board of Directors of the Company has authorized the issuance and sale by the Company of the following classes and numbers of shares of common stock, $ .001 par value per share (collectively, the “Shares”), with respect to the Company’s Money Market, Bogle Small Cap Growth, Schneider Small Cap Value, Schneider Value, Bear Stearns CUFS MLP Mortgage, Marvin & Palmer Large Cap Growth, Robeco Boston Partners Mid Cap Value, Robeco Boston Partners Long/Short Equity, Robeco Boston Partners All-Cap Value, Robeco Boston Partners Small Cap Value II, Robeco WPG Small Cap Value, Robeco WPG 130/30 Large Cap Core, Senbanc, SAM Sustainable Water, SAM Sustainable Climate, Free Market Fixed Income, Free Market International Equity and Free Market U.S. Equity Portfolios:

 

PORTFOLIO

  

CLASS

  

AUTHORIZED SHARES

Money Market

   L

I

   1500 million

1500 million

Bogle Small Cap Growth

   NNN

OOO

   100 million

100 million

Schneider Small Cap Value

   YY    100 million


PORTFOLIO

  

CLASS

  

AUTHORIZED SHARES

Schneider Value

   PPP    100 million
Bear Stearns CUFS MLP Mortgage Portfolio    YYY    100 million
Marvin & Palmer Large Cap Growth    ZZZ    100 million
Robeco Boston Partners Mid Cap Value    UU

TT

   100 million

100 million

Robeco Boston Partners Long/Short Equity    III

JJJ

   100 million

100 million

Robeco Boston Partners All-Cap Value    VV

WW

   100 million

100 million

Robeco Boston Partners Small Cap Value II    DDD

EEE

   100 million

100 million

Robeco WPG Small Cap Value    UUU    50 million
Robeco WPG 130/30 Large Cap Core    VVV

EEEE

   50 million

100 million

Senbanc    WWW    50 million
SAM Sustainable Water    FFFF

GGGG

HHHH

IIII

   100 million

100 million

100 million

100 million

SAM Sustainable Climate    JJJJ

KKKK

LLLL

MMMM

   100 million

100 million

100 million

100 million

Free Market Fixed Income    DDDD    100 million
Free Market International Equity    CCCC    100 million
Free Market U.S. Equity    BBBB    100 million


The Amendment seeks to register an indefinite number of the Shares.

We have reviewed the Company’s Articles of Incorporation, ByLaws, resolutions of its Board of Directors, and such other legal and factual matters as we have deemed appropriate. This opinion is based exclusively on the Maryland General Corporation Law and the federal law of the United States of America.

Based upon and subject to the foregoing, it is our opinion that the Shares, when issued for payment as described in the Company’s Prospectuses offering the Shares and in accordance with the Company’s Articles of Incorporation for not less than $ .0001 per share, will be legally issued, fully paid and non-assessable by the Company.

We consent to the filing of this opinion as an exhibit to the Amendment to the Company’s Registration Statement.

 

Very truly yours,

 

/s/ Drinker Biddle & Reath LLP

Drinker Biddle & Reath LLP