Approval by the Board. This Plan shall not take effect until it has been approved, together with any related agreement, by votes of the majority of both (i) the Board of Trustees of the Series and (ii) those Trustees of the Series who are not “interested persons” of the Series (as defined in the ▇▇▇▇ ▇▇▇) and have no direct or indirect financial interest in the operation of this Plan or any agreement related to it (the “Independent Trustees”), cast in person at a meeting called for the purpose of voting on this Plan and/or such agreement.
Appears in 3 contracts
Sources: Administrative Services Agreement (American Funds Insurance Series), Agreement and Plan of Reorganization and Liquidation (American Funds Insurance Series), Administrative Services Agreement (American Funds Insurance Series)