12B1- PLAN IMPLEMENTING AGREEMENT
Each Massachusetts Business Trust (Trust) designated in Appendix 1 from
time to time, acting severally, and Liberty Funds Distributor, Inc. (LFDI), a
Massachusetts corporation, agree effective April ____, 1999:
1. 12B-1 PLAN. The Trusts, on behalf of their several Funds, have adopted
so-called "Rule 12b-1 Plans" (the "Plans") pursuant to Rule 12b-1 (the "Rule")
under the Investment Company Act of 1940 (the "Act"). Under the Rule, a Fund
may, pursuant to a Plan, pay LFDI a specified portion of its assets to be used
for the purposes specified in its Plan. A Plan shall continue in effect with
respect to a Class of Shares only so long as specifically approved for that
Class at least annually as provided in the Rule. A Plan may not be amended to
increase materially the service fee or distribution fee with respect to a Class
of Shares without such shareholder approval as is required by the Rule or any
applicable orders of the Securities and Exchange Commission, and all material
amendments of the Plan must be approved in the manner described in the Rule. A
Plan may be terminated with respect to a Class of Shares at any time as provided
in the Rule without payment of any penalty.
This Agreement shall apply to each Fund named in Appendix 1 as that
Appendix may be amended from time to time by the parties, in writing.
2. PAYMENTS, EXPENDITURES AND REPORTS.
A. Each Fund shall pay LFDI the amount then due LFDI under a Plan on
the 20th day of each month, or, if such day is not a business day, the next
business day thereafter, during the term of this Agreement.
B. LFDI shall expend the amounts paid to it by the Funds under a Plan
in its discretion, so long as such expenditures are consistent with the Rule,
the Plan, and any instructions LFDI may receive from the Trustees of any Trust.
C. LFDI shall make all reports required under the Act, the Rule or a
Plan to the Trustees of the Trusts, as provided in the Act, the Rule and any
Plan or as requested by the Trustees.
3. CONTINUATION; AMENDMENT; TERMINATION; NOTICE.
A. This Agreement (i) supersedes and replaces any contract or agreement
relating to the subject matter hereof in effect prior to the date hereof, (ii)
shall continue in effect as to any Trust or a Fund only so long as specifically
approved at least annually by the Trustees or shareholders of the Trust or Fund
and (iii) may be amended at any time by written agreement of the parties, each
in accordance with the Act and the Rule.
B. This Agreement (i) shall terminate immediately upon the effective
date of any later dated agreement relating to the subject matter hereof, and
(ii) may be terminated upon 60 days' notice without penalty by a vote of the
Trustees or by LFDI or otherwise in accordance with the Act, and (iii) will
terminate immediately in the event of its assignment (as defined in the Act).
Upon termination the obligations of the parties under this Agreement shall cease
except for unfulfilled obligations and liabilities arising prior to termination.
C. All notices required under this Agreement shall be in writing and
delivered to the office of the other party.
4. AGREEMENT AND DECLARATION OF TRUST. A copy of the document establishing
each Trust is filed with the Secretary of The Commonwealth of Massachusetts. As
to each Trust this Agreement is executed by officers not as individuals and is
not binding upon any of the Trustees, officers or shareholders of the Trust
individually but only upon the assets of the relevant Fund.
Agreed:
EACH TRUST DESIGNATED IN APPENDIX 1 LIBERTY FUNDS DISTRIBUTOR, INC.
By: Xxxxx X. Xxxxxx, By: Xxxxxxx Xxxxxxx, Managing Director
Secretary For Each Trust
APPENDIX 1
Trust Series
Liberty Trust I
Colonial High Yield Securities Fund
Colonial Income Fund
Colonial Strategic Income Fund
Xxxxx Xxx Advisor Tax-Managed Growth Fund
Xxxxx Xxx Advisor Tax-Managed Value Fund
Liberty Trust II
Colonial Money Market Fund
Colonial Intermediate U.S. Government Fund
Colonial Short Duration U.S. Government Fund
Newport Tiger Cub Fund
Newport Japan Opportunities Fund
Newport Greater China Fund
Liberty Trust III
Colonial Select Value Fund
The Colonial Fund
Colonial Federal Securities Fund
Colonial Global Equity Fund
Colonial International Horizons Fund
Colonial Strategic Balanced Fund
Colonial Global Utilities Fund
Crabbe Huson Small Cap Fund
The Crabbe Huson Special Fund
Crabbe Huson Equity Fund
Crabbe Huson Real Estate Investment Fund
Crabbe Huson Managed Income & Equity Fund
Crabbe Huson Oregon Tax-Free Fund
Crabbe Huson Contrarian Income Fund
Crabbe Huson Contrarian Fund
Liberty Trust IV
Colonial High Yield Municipal Fund
Colonial Intermediate Tax-Exempt Fund
Colonial Tax-Exempt Fund
Colonial Tax-Exempt Insured Fund
Colonial Municipal Money Market Fund
Colonial Utilities Fund
Colonial Counselor Select Income Portfolio
Colonial Counselor Select Balanced Portfolio
Colonial Counselor Select Growth Portfolio
Colonial Trust V
Colonial Massachusetts Tax-Exempt Fund
Colonial Connecticut Tax-Exempt Fund
Colonial California Tax-Exempt Fund
Colonial Michigan Tax-Exempt Fund
Colonial Minnesota Tax-Exempt Fund
Colonial New York Tax-Exempt Fund
Colonial North Carolina Tax-Exempt Fund
Colonial Ohio Tax-Exempt Fund
Colonial Florida Tax-Exempt Fund
Colonial Trust VI
Colonial U.S. Growth & Income Fund
Colonial Small Cap Value Fund
Colonial Aggressive Growth Fund
Colonial Value Fund
Colonial International Equity Fund
Newport Asia Pacific Fund
Colonial Trust VII
Newport Tiger Fund
By: Xxxxx X. Xxxxxx, Secretary For Each Trust
Liberty Funds Distributor, Inc.
By: Xxxxxxx Xxxxxxx, Managing Director
Dated: ______________________________
