Exhibit 6c
ADMINISTRATIVE SERVICES AGREEMENT
AGREEMENT dated this 25th day of November, 1991, by and between FBL SERIES
FUND, INC., a Maryland corporation (the "Fund"), and FBL INVESTMENT ADVISORY
SERVICES INC., a Delaware corporation ("FBL").
In consideration of the mutual covenants hereinafter contained, it is
hereby agreed by and between the parties hereto as follows:
1. The Fund hereby appoints FBL to provide information and administrative
services for the benefit of the Fund and its shareholders. In this regard, FBL
shall appoint various broker-dealer firms and other financial services firms
("Firms") to provide related services and facilities for their clients who are
shareholders of the Fund ("clients"). The Firms shall provide such office space
and equipment, telephone facilities and personnel as is necessary or beneficial
for providing information and services to shareholders of the Fund. Such
services and assistance may include, but are not limited to, establishing and
maintaining shareholder accounts and records, processing purchase and redemption
transactions, answering routine client inquiries regarding the Fund and its
special features, assistance to clients in changing dividend and investment
options, account designations and addresses, and such other services as the Fund
or FBL may reasonably request. FBL may also provide some of the above services
for the Fund directly.
FBL accepts such appointment and agrees during such period to render such
services and to assume the obligations herein set forth for the compensation
herein provided. FBL shall for all purposes herein provided be deemed to be an
independent contractor and, unless otherwise expressly provided or authorized,
shall have no authority to act for or represent the Fund in any way or otherwise
be deemed an agent of the Fund. FBL, by separate agreement with the Fund, may
also serve the Fund in other capacities. In carrying out its duties and
responsibilities hereunder, FBL will appoint various Firms to provide
administrative and other services described herein directly to or for the
benefit of shareholders of the Fund who may be clients of such Firms. Such
Firms shall at all times be deemed to be independent contractors retained by FBL
and not by the Fund. FBL and not the Fund will be responsible for the payment
of compensation to such Firms for such services.
2. For the services and facilities described in Section 1, the Fund will
pay to FBL at the end of each calender month an administrative service fee
computed at an annual rate of 0.25 of 1% of the average daily net assets of the
Fund. For the month and year in which this Agreement becomes effective or
terminates, there shall be an appropriate proration on the basis of the number
of days that the Agreement is in effect during such month and year,
respectively. The services of FBL to the Fund under this Agreement are not to
be deemed exclusive, and FBL shall be free to render similar services or other
services to others.
The net asset value for each share of the Fund shall be calculated in
accordance with the provisions of the Fund's current prospectus. On each day
when net asset value is not calculated, the net asset value of a share of the
Fund shall be deemed to be the net asset value of such a share as of the close
of business on the last day on which such calculation was made for the purpose
of the foregoing computations.
3. The Fund shall assume and pay all charges and expenses of its
operations not specifically assumed or otherwise to be provided by FBL under
this Agreement.
4. This Agreement may be terminated at any time without the payment of
any penalty by the Fund or by FBL on sixty (60) days' written notice to the
other party. Termination of this Agreement shall not affect the right of FBL to
receive payments on any unpaid balance of the compensation described in Section
2 hereof earned prior to such termination. All material amendments to this
Agreement must be approved by vote of the Board of Directors of the Fund.
5. If any provision of this Agreement shall be held or made invalid by a
court decision, statute, rule or otherwise, the remainder shall not be thereby
affected.
6. Any notice under this Agreement shall be in writing addressed and
delivered or mailed, postage prepaid, to the other party at such address as such
other party may designate for the receipt of such notice.
7. This Agreement shall be construed in accordance with applicable
federal law and the laws of the State of Iowa.
IN WITNESS WHEREOF, the Fund and FBL have caused this Agreement to be
executed as of the day and year first above written.
FBL SERIES FUND, INC. FBL INVESTMENT ADVISORY SERVICES, INC.
By: By:
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Title: Vice President Title: President
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