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Exhibit 15(d)
AMENDMENT TO PLAN AND AGREEMENT
PURSUANT TO RULE 12b-1
This Amendment, made and entered into as of September 18, 1996, amends
the Plan and Agreement Pursuant to Rule 12b-1 dated September 1, 1990, as
amended June 28, 1991 (the "Plan and Agreement") by and between Asset
Management Fund, Inc. (formerly, Asset Management Fund for Financial
Institutions, Inc.), a Maryland corporation (the "Fund"), and Shay Financial
Services Co., an Illinois general partnership ("Shay").
WITNESSETH:
WHEREAS, Shay has entered into a Distribution Agreement as of this same
date to serve as distributor of the shares of the Fund; and
WHEREAS, upon entering into the Distribution Agreement with Shay the
Fund desires to retain Shay to continue to provide the same services for the
same compensation as set forth in the Plan and Agreement, and Shay desires to be
so retained;
NOW THEREFORE, the parties hereto, intending to be legally bound,
hereby agree to amend the Plan and Agreement as follows:
1. Distribution. Shay is responsible for the distribution,
promotion and marketing of the Fund's Shares.
2. It is understood and agreed that Shay will act as a "principal
underwriter" of the Fund pursuant to the Distribution Agreement.
3. Terms used herein shall have the same meaning as set forth in
the Plan and Agreement.
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IN WITHESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of September 18, 1996.
ASSET MANAGEMENT FUND, INC.
ATTEST:
/s/ Xxxxxx X. Xxxx By: /s/ Xxxxxx X. Xxxxxxx, Xx.
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Xxxxxx X. Xxxx Xxxxxx X. Xxxxxxx, Xx.
SHAY FINANCIAL SERVICES CO.
ATTEST:
/s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxx X. Xxxx
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Xxxxxx X. Xxxxxxx, Xx. Xxxxxx X. Xxxx
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