Appointment of trustee company board requires Board approval; chair must be independent and two thirds of directors independent; eligibility limited. Appointment and reappointment of the trustee company's board require prior Board approval; the chairperson must be an independent director. At least two thirds of the board must be independent directors not associated with the sponsor, asset management company or trustee company. Trustee directors may serve other trusts only where objects do not conflict. Eligibility to be a trustee requires compliance with Schedule II fit and proper criteria, no role as director/officer/employee of the asset management company, no trusteeship of another mutual fund, and furnishing information requested by the Board.