Exhibit 10.27   **Bank of America Investment Account Customer Agreement**       ***CAPITAL SHARES*****1. Introduction**  This Agreement contains the terms governing the Investment Account (the “Account”) that I amopening with you to facilitate my investment in one or more of the Capital Shares of the ColumbiaCash Reserves, Columbia Money Market Reserves, Columbia Treasury Reserves, Columbia GovernmentReserves, Columbia Municipal Reserves or Columbia California Tax-Exempt Reserves money Funds(referred to individually as a “Fund” and collectively as the “Funds”), which are available throughBank of America (“BofA”) as Shareholder Servicing Agent. I understand that my application to openan Account is considered a part of this agreement and that, by signing the application, I amagreeing to the terms of this Agreement and to the terms governing any additional Account Servicesthat I elected on my application or request in the future.  The Account is a custodial account that you maintain on my behalf as a Shareholder ServicingAgent for each Fund to enable me to invest in one or more of the Funds. Through the Account, I canpurchase and redeem shares in one or more of the Funds, receive dividends and other distributionson my Fund investments, exchange shares in one Fund for shares in other Funds, and obtaininformation, including periodic Account statements, about the number and net asset value of my Fundshares and about my transactions in the Fund.  Although you or an affiliate bank make the funds available through the Account as ShareholderServicing Agent, Columbia Management Distributors, Inc., and Columbia Management are theDistributor and Investment Adviser to Columbia Funds, respectively.  **I understand that you and your affiliates receive fees from the Funds for performing servicessuch as shareholder servicing, administrative services, investment adviser services anddistribution.**  The investment policies, fees and expenses, and role of the shareholder servicing agent foreach fund are explained in a prospectus, which is available from you without charge. I recognizethat I should review carefully the provisions of the current prospectus relating to each Fund inwhich I am considering an investment before I instruct you to purchase shares in that Fund for me.**2. Appointment of Agent**  I understand that you are a Shareholder Servicing Agent as described in the prospectus. Iappoint you as my Shareholder Servicing Agent in all transactions on my behalf with the Fund,including purchases, exchanges and redemptions. As my Shareholder Servicing Agent, you mayestablish minimums, limitations, restrictions, and charges for the Account different from thosethat apply to Fund investors through other Shareholder Servicing Agents.**3. Transaction Account**  I understand that this Account is available to customers of Bank of America. To keep mystatus as a customer, I agree to maintain, in addition to this Account, one of the Bank of Americatransaction Accounts permitted by you and specified by me in my Account Application for use inconnection with purchases and redemptions of Fund shares. Such an account will be referred to asthe “Transaction Account”. I understand that, for my protection, the registration of theTransaction Account and this Account must be the same.**4. No Guarantees of Insurance or Advice**  I understand that you do not warrant the safety of investments in any Fund or guarantee theirperformance and that investments in Fund shares are not insured by the Federal Deposit InsuranceCorporation or any other governmental entity. I understand that I must make my own investmentdecisions about investing in the Funds. I acknowledge that Bank of America did not provide me withinvestment advice and did not make recommendations about investing in the Funds. I assume all riskof loss resulting from any decision that I make to purchase, exchange or sell shares of any Fund.**5. Initial Purchase of Shares**  I have instructed you to make my initial purchase of Fund shares by debiting my TransactionAccount in an amount specified by me. My Fund shares will be maintained in book entry form, and nocertificates representing my shares will be issued to me. I understand that you will customarilytransmit my initial purchase order within one full business day following its receipt at theShareholder Servicing Center and I will become a Fund shareholder on that day. However, if I havenot made collected funds available to you for my initial purchase, you may delay transmitting myorder to the Fund until you have received collected funds.**6. Additional Purchase of Shares**  I may also instruct you to purchase additional shares for me from time to time in writing orby telephone. The amount of additional share purchases shall be subject to the minimum amount setby you. The same terms that apply to initial share purchases (as explained in Paragraph 5) alsoapply to additional share purchases.**7. Dividends and Distributions**  I understand that I will be entitled to any dividends and distributions of capital gains paidby a Fund if I am a Fund shareholder on the record date as set by the Board of Trustees of the Fundfor that payment. Since Fund dividends are paid monthly although accrued daily, such dividendswill actually be received once a month. Dividends will be posted when received. The calculationmethod for these dividends is disclosed in the prospectus and statement of additional informationof the funds.**8. Redemption of Shares/Exchanges Among Funds**  I may instruct you from time to time to redeem some or all of my shares in one or more Funds.I may also instruct you from time to time to exchange shares by redeeming some or all of my sharesin one Fund and investing the proceeds in another Fund. To facilitate Fund exchanges, I herebyrequest you to obtain information for me about the other Funds into which I may exchange.  In the case of a redemption, I understand that you will deposit the proceeds to my TransactionAccount. In the case of an exchange, I will direct you as to which Fund or Funds into which toinvest the proceeds of the redemption, and I understand that the proceeds may be invested only in aFund or Funds with an account registration under the same account registration as the redeemedFund. I understand that you will normally automatically transmit my redemption or exchange orderwithin one full business day after you receive it at your Service Center. I agree that you maydelay the redemption or exchange of any Fund share until the funds I have given you to purchase itare collected.**9. Purchase, Exchange, and Redemption Procedures**  I agree to follow the procedures you establish for purchase, exchange, and redemption orders,including procedures for accepting my telephone instructions. To provide a record of instructions,you may, if you wish, record my telephone instructions to you. I agree to use the instructionforms you provide me for all my written purchase, exchange, and redemption orders. You may delaytransmitting any of my instructions until you have received them in proper form.**10. Verbal Instructions**  I agree that you will not be liable for honoring any verbal instructions, including those bytelephone, to purchase, exchange, or redeem Fund shares which you receive from any person claimingto be me, provided you have followed your normal customer verification procedures. You will not beliable for any unauthorized redemptions provided you have disposed of the proceeds in a mannerprovided for redemptions in Paragraph 8. You will not be liable for any unauthorized exchangesprovided you have invested the proceeds in a manner provided for exchanges in Paragraph 8.**11. Telephone Inquiries**  You will provide a telephone number so that I can inquire about the status of my Account andmy Transaction Account, including number of shares owned and Transaction Account balances. I agreethat you may respond to such inquiries and furnish the requested information to any person claimingto be me, provided you have followed your normal customer verification procedures. I agree thatyou can record my conversations with you.**12. Monthly Statements**  Transactions in the Fund shares will be reported on BofA’s regular periodic statement. Suchstatement shall be conclusive if not objected to in writing within ten days of delivery of suchstatement to me. If I do not object within ten days of delivery of such statement, it willconstitute a complete waiver by me of all claims that I may have with respect to such transactionsor statement. I shall remain liable at all times, however, for the return to BofA of any dividendsor interest erroneously distributed to me or deposited into the Transaction Account or anotheraccount of mine or securities erroneously distributed to me or deposited into my Investment Accountor another account of mine. You may omit sending a statement to me for any month when my Accounthas had a zero balance and no activity.**13. Proxies**  You will send to me all Fund proxy solicitation material and proxies. I understand that I amexpected to vote them in such manner as I consider desirable and then return them in accordancewith the instructions received. I understand that, if my written proxy instructions have not beenreceived by you by the fifth business day prior to the meeting at which the proxy is to be voted,you are authorized pursuant to applicable agreements with the Funds to vote my outstanding sharesin the same proportion as the proxies received from other Account customers. I relieve you ofliability if proxies inadvertently do not reach me.**14. Account Closing**  I understand that a redemption of all my Fund shares does not at that time automaticallyterminate this Agreement or close my Account. I may make an additional purchase during thefollowing year and return my Account to active status. However, if I have not made an additionalpurchase for one year following full redemption, you may automatically close my Account andterminate this Agreement.  I may terminate this Agreement and close my Account at any time by giving you written notice.  You may, at your discretion, terminate this Agreement and close my Account at any time,effective upon sending notice to me.  If my Account is closed, you are authorized to redeem all of my Fund shares and handle theproceeds as provided for in Paragraph 8 of this Agreement or, if authorized by me, you willtransfer my Fund shares to another Shareholder PAGE 3 ***Keep this page for your records*** (continued on reverse)
 

 
Servicing Agent. If my Account is closed, this Agreement will continue in effect until the proceeds of any redemption are processed in accordancewith Paragraph 8 or until my Fund shares are accepted for custody by another Shareholder Servicing Agent.**15. Amendment**  You may amend this Agreement at any time in any respect effective upon written notice to me.**16. Assignments and Transfers**  I agree not to assign, transfer, or pledge any right, title, or interest I have in thisAgreement, in the Account, or in any of my Fund shares, to any other person without your priorwritten consent. You may disregard any attempted assignment, transfer, or pledge made without yourconsent.**18. Account Documentation**  Iunderstand that the Account will not be opened until all documentation required by you isreceived. You will notify me if my application is missing documentation.You may also require signature guarantees for changes that I request to be made to yourrecords with respect to my Account, including but not limited to changes in the Transaction Accountspecified in my latest application, or for any written requests by me for additional Accountservices made after I have submitted my initial Account application to you. You may refuse toaccept or carry out any transaction that does not satisfy any restrictions then in effect. If BofAand I have entered into any security agreement granting BofA a security interest in the Account,then in the event of any conflict between the terms of this Agreement and the terms of suchsecurity agreement, the terms of such security agreement shall control.**19. Obligation of Others**  Myobligations under this Agreement will also be binding on my heirs, executors, and legalrepresentatives.**20. Delay in Enforcement**  Youmay delay enforcing any of your rights under this Agreement without losing them.**21. Governing Law**  ThisAgreement is to be governed by the laws of the State of North Carolina.**22. ARBITRATION**  **Arbitrationis final and binding on the parties. Except as set forth in Paragraph 25 below,the parties are waiving the right to seek remedies in court, including the right to a jury trial.Pre-arbitration discovery is generally more limited than and different from court proceedings. Thearbitrators reward is not required to include factual findings or legal reasoning and any party’sright to appeal or seek modifications of rulings by the arbitrators is strictly limited.****22. ARBITRATION AGREEMENT**  **Tothe extent permitted by law, any controversy arising out of or relating to this Agreementshall be submitted to arbitration before three arbitrators and such arbitration shall be conductedin accordance with the rules then in effect of the American Arbitration Association, provided,however, that each party shall select an arbitrator and the two arbitrators so selected shallselect a third arbitrator. Arbitration must be commenced by service upon the other party of awritten notice of intention to arbitrate. Judgment upon any award rendered by the arbitratorsshall be final, and may be entered in any court having jurisdiction.****23. Provisional Remedies**  Iacknowledge and agree that in addition to and without waiver of the binding arbitrationagreement set forth above, BofA, to the extent it deems necessary, shall be entitled to sue forprovisional remedies, including the remedy of prejudgment writs of attachment, available in anycourt having jurisdiction.**24. Severability**  Ifa provision of this agreement is rendered invalid or unenforceable by any law,administrative order, or judicial decision, all other provisions of this Agreement remain ineffect.**25. Definitions**  Inthis Agreement, the words “I”, “me” and “my” refer to each individual who is an Applicantfor the Account. If the Applicant is not an individual, these terms refer to the Applicants dulyauthorized representatives. The terms “you” and “your” refer to Bank of America and its agents andrepresentatives. The term “business day” means each calendar day on which you, the Distributor,and the Funds are all open for busin**INSTRUCTIONS AND IMPORTANT NOTICE**Under United States law, we are required to obtain, and you are required to give us a U.S.taxpayer identification number (TIN) for each of your accounts. If we are unable to obtain a TINfor each account, then we are required to maintain a list of the name, address and account numberof each person from whom we were unable to obtain a TIN and, upon request, give the list to theUnited States Treasury Department. U.S. federal income tax law may require us to withhold 31% ofall interest payments we make to you if:     - we do not have a valid and certified TIN on file for you or the TIN you gave us is incorrect;     - all joint account owners who are Foreign Persons fail to certify or recertify that they areneither citizens or residents of the U.S. nor engaged in a U.S. trade or business with which thisaccount is connected.     - you have been notified by the Internal Revenue Service that you are subject to backupwithholding.In addition, if you fail to provide a true and correct tax certification, you may also be subjectto a $50 fine imposed by the Internal Revenue Service. The 31% withholding requirement, called“Backup withholding,” is not an additional tax. Any amount withheld is paid to the InternalRevenue Service and can be claimed as a credit against your income tax liability.**INFORMATION FOR FOREIGN PERSONS**By checking the foreign person box on the investment account application, all signersof the account certify under penalties of perjury that they are the beneficial owners of theaccount and that (1) they are neither citizens nor residents of the U.S., (2) they are not formedunder the laws of the United States or of any State within the United States, and (3) they are notengaged in a U.S. trade or business with which this account is connected.**•** If you are married to a U.S. citizen or resident and have made an election under the provisions of the Internal Revenue Code Section 6013(g) or (h), you aretreated as a U.S. resident and may not claim Foreign Person status. **•** If you cease to be an Foreign Person after you have completed this form, you must notify us within 30 days of your change in status. **•** If your account is a joint account, **each joint owner**must qualify as an Foreign Person and **must sign.**However, if one of the joint owners is a U.S. taxpayer,that joint owner must sign on this form and provide his/her U.S. Taxpayer Identification Number. **•** This form generally entitles you to Foreign Person status for three calendar years. Prior to the third year, you must recertify your status as an Foreign Person. **•** Checking the Foreign Person box will eliminate any 31% backup withholding and IRS Form 1099-DIV and Form 1099-B reporting. However, it will subject all dividendpayments to 30% nonresident withholding (or lower treaty rate, if applicable) and to IRS Form 1042-S reporting.**STATEMENT REGARDING USA PATRIOT ACT**Pursuant to requirements of law, including the Uniting and Strengthening America by ProvidingAppropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, Bank ofAmerica is obtaining information and will take necessary actions to verify your identity, includingin some instances, requesting additional documentation from you. PAGE 4 ***Keepthis page for your records*** 9/30/3