# EDGAR Filing Document

**Accession Number:** 0001496608
**File Stem:** 0000919574-26-001856
**Filing Date:** 2026-3
**Character Count:** 89648
**Document Hash:** 2fd2e52e0e45b416d3d8f83dc1b5abab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-26-001856.hdr.sgml**: 20260323

**ACCESSION NUMBER**: 0000919574-26-001856

**CONFORMED SUBMISSION TYPE**: POS EX

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20260323

**DATE AS OF CHANGE**: 20260323

**EFFECTIVENESS DATE**: 20260323

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AB Active ETFs, Inc.
- **CENTRAL INDEX KEY:** 0001496608

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** POS EX
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-288493
- **FILM NUMBER:** 26782353

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ALLIANCEBERNSTEIN L.P.
- **STREET 2:** 66 HUDSON BOULEVARD EAST, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** 212-969-1000

**MAIL ADDRESS:**
- **STREET 1:** C/O ALLIANCEBERNSTEIN L.P.
- **STREET 2:** 66 HUDSON BOULEVARD EAST, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AllianceBernstein Active ETFs, Inc.
- **DATE OF NAME CHANGE:** 20100714

---

| |
|:---|
| As filed with the Securities and Exchange Commission on March 23, 2026 |
| FILE NO. 333-288493 |
| SECURITIES AND EXCHANGE COMMISSION |
| Washington, D.C. 20549 |
| FORM N-14 |
| REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 |
| Pre-Effective Amendment No. ____ |
| Post-Effective Amendment No. 1 |
| **AB ACTIVE ETFs, INC.** |
| (Exact Name of Registrant as Specified in Charter) |
| 66 Hudson Boulevard East, 26th Floor, New York, New York 10001 |
| (Address of Principal Executive Office) (Zip Code) |
| Registrant's Telephone Number, including Area Code: |
| (800) 221-5672 |
| Nancy E. Hay<br> AllianceBernstein L.P.<br> 66 Hudson Boulevard East, 26th Floor New York, New York 10001<br> (Name and address of agent for service) |
| Copies of Communications to:<br> Paul M. Miller<br> Seward & Kissel LLP<br> 901 K Street, N.W.<br> Suite 800<br> Washington, D.C. 20001 |

---

No filing fee is due because Registrant is relying on Section 24(f) of the Investment Company Act of 1940, as amended, pursuant to which it has previously registered an indefinite number of securities.

It is proposed that this filing will become effective immediately pursuant to Rule 462(d) under the Securities Act of 1933, as amended.

 **EXPLANATORY NOTE**

This Post-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-14 (File No. 333-288493) consists of the following:

Cover Sheet

Contents of the Registration Statement

1. [Part A—The definitive Information Statement/Prospectus as filed on August 1, 2025 pursuant to Rule 497 under the Securities Act of 1933 is incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425004356/d30420d497.htm)

2. [Part B—The definitive Statement of Additional Information as filed on August 1, 2025 pursuant to Rule 497 under the Securities Act of 1933 is incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425004356/d30420d497.htm)

3. Part C—Other Information.

Signature Page

Exhibits—The filing is being made solely for the purpose of adding Exhibits 12(a), 12(b) and 12(c) to Registrant's Registration Statement on Form N-14 (File No. 333-288493).

Part C – Other Information.

<u>ITEM 15</u>. <u>Indemnification</u>.

It is the Registrant's policy to indemnify its directors and officers, employees and other agents to the maximum extent permitted by Section 2-418 of the General Corporation Law of the State of Maryland, which is incorporated by reference herein, and as set forth in Article EIGHTH of Registrant's Articles of Amendment and Restatement of Articles of Incorporation filed as Exhibit (a), Article IX of the Registrant's Amended and Restated By-laws filed as Exhibit (b) and Section 6 of the Distribution Services Agreement filed as Exhibit (e), as set forth below. The Adviser's liability for any loss suffered by the Registrant or its shareholders is set forth in Section 4 of the Investment Advisory Contract filed as Exhibit (d), as set forth below.

The liability of the Registrant's directors and officers is dealt with in Article EIGHTH of Registrant's Articles of Amendment and Restatement of Articles of Incorporation, as set forth below.

ARTICLE EIGHTH OF THE REGISTRANT'S ARTICLES OF AMENDMENT AND RESTATEMENT OF ARTICLES OF INCORPORATION READS AS FOLLOWS:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To the maximum extent that Maryland law in effect from time to time permits limitation of the liability of directors and officers of a corporation, no present or former director or officer of the Corporation shall be liable to the Corporation or its stockholders for money damages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Corporation shall have the power, to the maximum extent permitted by Maryland law in effect from time to time, to obligate itself to indemnify, and to pay or reimburse reasonable expenses in advance of final disposition of a proceeding to, (a) any individual who is a present or former director or officer of the Corporation or (b) any individual who, while a director or officer of the Corporation and at the request of the Corporation, serves or has served as a director, officer, partner or trustee of another corporation, real estate investment trust, partnership, joint venture, trust, employee benefit plan, limited liability company or any other enterprise from and against any claim or liability to which such person may become subject or which such person may incur by reason of his or her service in such capacity. The Corporation shall have the power, with the approval of the Board of Directors, to provide such indemnification and advancement of expenses to a person who served a predecessor of the Corporation in any of the capacities described in (a) or (b) above and to any employee or agent of the Corporation or a predecessor of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The provisions of this Article EIGHTH shall be subject to the limitations of the Investment Company Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Neither the amendment nor repeal of this Article EIGHTH, nor the adoption or amendment of any other provision of the Charter or Bylaws inconsistent with this Article EIGHTH, shall apply to or affect in any respect the applicability of the preceding sections of this Article EIGHTH with respect to any act or failure to act which occurred prior to such amendment, repeal or adoption.

ARTICLE IX OF THE REGISTRANT'S AMENDED AND RESTATED BYLAWS READS AS FOLLOWS:

To the maximum extent permitted by Maryland law in effect from time to time, the Corporation shall indemnify and, without requiring a preliminary determination of the ultimate entitlement to indemnification, shall pay or reimburse reasonable expenses in advance of final disposition of a proceeding to (a) any individual who is a present or former director or officer of the Corporation and who is made or threatened to be made a party to the proceeding by reason of his or her service in any such capacity or (b) any individual who, while a director or officer of the Corporation and at the request of the Corporation, serves or has served as a director, officer, partner or trustee of another corporation, real estate investment trust, partnership, joint venture, trust, employee benefit plan or other enterprise and who is made or threatened to be made a party to the proceeding by reason of his or her service in any such capacity. The rights to indemnification and advance of expenses provided by the Charter and these Bylaws shall vest immediately upon election of a director or officer. The Corporation may, with the approval of its Board of Directors or any duly authorized committee thereof, provide such indemnification and advance for expenses to a person who served a predecessor of the Corporation in any of the capacities described in (a) or (b) above and to any employee or agent of the Corporation or a predecessor of the Corporation. The termination of any claim, action, suit or other proceeding involving any person, by judgment, settlement (whether with or without court approval) or conviction or upon a plea of guilty or nolo contendere, or its equivalent, shall not create a presumption that such person did not meet the standards of conduct required for indemnification or payment of expenses to be required or permitted under Maryland law, these Bylaws or the Charter. Any indemnification or advance of expenses made pursuant to this Article shall be subject to applicable requirements of the 1940 Act. The indemnification and payment of expenses provided in these Bylaws shall not be deemed exclusive of or limit in any way other rights to which any person seeking indemnification or payment of expenses may be or may become entitled under any bylaw, regulation, insurance, agreement or otherwise.

Neither the amendment nor repeal of this Article, nor the adoption or amendment of any other provision of the Bylaws or Charter inconsistent with this Article, shall apply to or affect in any respect the applicability of the preceding paragraph with respect to any act or failure to act which occurred prior to such amendment, repeal or adoption.

The Investment Advisory Contract between the Registrant and AllianceBernstein L.P. provides that AllianceBernstein L.P. will not be liable under such agreement for any mistake of judgment or in any event whatsoever, except for lack of good faith, and that nothing therein shall be deemed to protect, or purport to protect, AllianceBernstein L.P. against any liability to Registrant or its security holders to which it would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties hereunder, or by reason of its reckless disregard of its obligations and duties thereunder.

The Distribution Services Agreement between the Registrant and Foreside Fund Services, LLC (the "Distributor") provides that the Registrant agrees to indemnify and hold harmless the Distributor, its affiliates and each of their respective directors, officers and employees and agents and any person who controls the Distributor within the meaning of Section 15 of the Securities Act of 1933, as amended (the "1933 Act") (any of the Distributor, its officers, employees, agents and directors or such control persons, for purposes of this paragraph, a "Distributor Indemnitee") against any loss, liability, claim, damages or expense (including the reasonable cost of investigating or defending any alleged loss, liability, claim, damages or expense and reasonable counsel fees incurred in connection therewith) ("Losses") that a Distributor Indemnitee may incur arising out of or based upon: (i) Distributor serving as distributor for the Registrant pursuant to the Distribution Services Agreement; (ii) the allegation of any wrongful act of the Registrant or any of its directors, officers, employees or affiliates in connection with its duties and responsibilities in the Distribution Services Agreement; (iii) any claim that the Registration Statement, Prospectus, Statement of Additional Information, product description, shareholder reports, Marketing Materials and advertisements specifically approved by the Registrant and Investment Adviser or other information filed or made public by the Registrant (as from time to time amended) included an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein (and in the case of the Prospectus, Statement of Additional Information and product description, in light of the circumstances under which they were made) not misleading under the 1933 Act, or any other statute or the common law, unless such statement or omission was made in reliance upon, and in conformity with, information furnished to the Registrant, in writing, by the Distributor for use in such Registration Statement, Prospectus, Statement of Additional Information, product description, shareholder report, Marketing Materials or advertisement; (iv) the breach by the Registrant of any obligation, representation or warranty contained in the Distribution Services Agreement; or (v) the Registrant's failure to comply in any material respect with applicable securities laws. The Distributor shall act in good faith and in a commercially reasonable manner to mitigate any Losses it may suffer.

In no case (i) is the indemnification provided by an indemnifying party to be deemed to protect against any liability the indemnified party would otherwise be subject to by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties under the Distribution Services Agreement, or (ii) is the indemnifying party to be liable under Section 6 of the Distribution Services Agreement with respect to any claim made against any indemnified party unless the indemnified party notifies the indemnifying party in writing of the claim within a reasonable time after the summons or other first written notification giving information of the nature of the claim shall have been served upon the indemnified party (or after the indemnified party shall have received notice of service on any designated agent).

The foregoing summaries are qualified by the entire text of Registrant's articles of Restatement of Articles of Incorporation, Amended and Restated By-Laws, the Investment Advisory Contract between the Registrant and AllianceBernstein L.P. and the Distribution Services Agreement between the Registrant and Foreside Fund Services, LLC.

Insofar as indemnification for liabilities arising under the 1933 Act may be permitted to directors, officers and controlling persons of the Registrant by the Registrant pursuant to the Registrant's organizational instruments or otherwise, the Registrant is aware that in the opinion of the Securities and Exchange Commission ("SEC"), such indemnification is against public policy as expressed in the 1933 Act and, therefore, is unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

In accordance with Release No. IC-11330 (September 2, 1980), the Registrant will indemnify its directors, officers, investment adviser and principal underwriters only if (1) a final decision on the merits was issued by the court or other body before whom the proceeding was brought that the person to be indemnified (the "indemnitee") was not liable by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office ("disabling conduct") or (2) a reasonable determination is made, based upon a review of the facts, that the indemnitee was not liable by reason of disabling conduct, by (a) the vote of a majority of a quorum of the directors who are neither "interested persons" of the Registrant as defined in section 2(a)(19) of the Investment Company Act of 1940 nor parties to the proceeding ("disinterested, non-party directors"), or (b) an independent legal counsel in a written opinion. The Registrant will advance attorneys fees or other expenses incurred by its directors, officers, investment adviser or principal underwriters in defending a proceeding, upon the undertaking by or on behalf of the indemnitee to repay the advance unless it is ultimately determined that he is entitled to indemnification and, as a condition to the advance, (1) the indemnitee shall provide a security for his undertaking, (2) the Registrant shall be insured against losses arising by reason of any lawful advances, or (3) a majority of a quorum of disinterested, non-party directors of the Registrant, or an independent legal counsel in a written opinion, shall determine, based on a review of readily available facts (as opposed to a full trial-type inquiry), that there is reason to believe that the indemnitee ultimately will be found entitled to indemnification.

The Registrant participates in a joint director's liability insurance policy issued by the ICI Mutual Insurance Company. Under this policy, outside trustees and directors are covered up to the limits specified for any claim against them for acts committed in their capacities as trustee or director. A pro rata share of the premium for this coverage is charged to each participating investment company. In addition, the Adviser's liability insurance policy, which is issued by a number of underwriters, including Greenwich Insurance Company as primary underwriter, extends to officers of the Registrant and such officers are covered up to the limits specified for any claim against them for acts committed in their capacities as officers of the investment companies sponsored by the Adviser.

The independent directors and the interested advisory director (each an "Indemnitee") have entered into an indemnification agreement with the Registrant under which the Registrant has agreed to indemnify each Indemnitee against any covered expense and covered liability reasonably incurred by the Indemnitee in connection with any covered proceeding arising as a result of the Indemnitee's service to the Registrant, to the fullest extent permitted by law. In addition, the indemnification agreement adopts certain presumptions and procedures that may make the indemnification process and advancement of expenses more efficient.

<u>ITEM 16</u>. <u>Exhibits</u>

(1) (a) [Articles of Amendment and Restatement of the Articles of Incorporation of the Registrant dated May 4, 2022 and filed May 5, 2022 – Incorporated by reference to Exhibit (a) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on May 10, 2022.](https://www.sec.gov/Archives/edgar/data/1496608/000091957422003072/d9480524_ex-a.htm)

(b) [Articles of Amendment to the Articles of Incorporation of the Registrant dated August 2, 2022 and filed August 4, 2022 – Incorporated by reference to Exhibit (a)(2) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 25, 2022](https://www.sec.gov/Archives/edgar/data/0001496608/000091957422005249/d9704105_ex99a-2.htm) .

(c) [Articles Supplementary to the Articles of Incorporation of the Registrant dated November 3, 2022 and filed November 4, 2022 – Incorporated by reference to Exhibit (a)(3) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on November 7, 2022](https://www.sec.gov/Archives/edgar/data/1496608/000091957422006264/d9784750_ex99a-3.htm) .

(d) [Articles Supplementary to the Articles of Incorporation of the Registrant dated December 16, 2022 and filed December 19, 2022 – Incorporated by reference to Exhibit (a)(4) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on December 22, 2022.](https://www.sec.gov/Archives/edgar/data/1496608/000091957422007157/d9882214_ex99a-4.htm)

(e) [Articles Supplementary to the Articles of Incorporation of the Registrant dated February 1, 2023 and filed February 2, 2023 – Incorporated by reference to Exhibit (a)(5) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on February 3, 2023.](https://www.sec.gov/Archives/edgar/data/1496608/000091957423000698/d9909771_ex99a-5.htm)

(f) [Articles Supplementary to the Articles of Incorporation of the Registrant dated August 2, 2023 and filed August 3, 2023 – Incorporated by reference to Exhibit (a)(6) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 7, 2023.](https://www.sec.gov/Archives/edgar/data/1496608/000091957423004356/d10655929_ex99a-6.htm)

(g) [Articles Supplementary to the Articles of Incorporation of the Registrant dated November 2, 2023 and filed November 3, 2023 – Incorporated by reference to Exhibit (a)(7) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on November 7, 2023.](https://www.sec.gov/Archives/edgar/data/1496608/000091957423005964/d10826990_ex99a-7.htm)

(h) [Articles Supplementary to the Articles of Incorporation of the Registrant dated July 31, 2024 and filed August 2, 2024 – Incorporated by reference to Exhibit (a)(8) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 5, 2024.](https://www.sec.gov/Archives/edgar/data/1496608/000091957424004269/d11076504_ex99a-8.htm)

(i) [Articles Supplementary to the Articles of Incorporation of the Registrant dated March 13, 2025 and filed March 14, 2025 – Incorporated by reference to Exhibit (a)(9) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on March 17, 2025](https://www.sec.gov/Archives/edgar/data/1496608/000091957425001985/d11615856_ex99-a9.htm) <u>.</u> 

(j) [Articles Supplementary to the Articles of Incorporation of the Registrant dated May 8, 2025 and filed May 9, 2025 – Incorporated by reference to Exhibit (a)(10) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on May 12, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425002834/d11633628_ex99a-10.htm)

(k) [Articles Supplementary to the Articles of Incorporation of the Registrant filed August 8, 2025 – Incorporated by reference to Exhibit (a)(11) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 11, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425004432/d11954982_ex99a-11.htm)

(2) [Amended and Restated By-Laws of the Registrant – Incorporated by reference to Exhibit (b) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on May 10, 2022.](https://www.sec.gov/Archives/edgar/data/1496608/000091957422003072/d9480525_ex-b.htm)

(3) Voting Trust Agreements. – Not Applicable.

(4) [Form of Agreement and Plan of Acquisition and Termination – Incorporated by reference to Exhibit A to Part A of the Registration Statement on Form N-14 (File No. 333-288493), filed with the Securities and Exchange Commission on July 2, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425003932/d11777069_n14.htm)

(5) Instruments defining the rights of holders of the securities being registered. – Not Applicable.

(6) [Investment Advisory Contract between the Registrant and AllianceBernstein L.P. dated August 4, 2022, as amended November 3, 2022, March 15, 2023, May 9, 2023, September 11, 2023, December 1, 2023, May 24, 2024, June 26, 2024, November 19, 2024 and February 7, 2025 – Incorporated by reference to Exhibit (d) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on March 27, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425002125/d11626822_ex99-d.htm)

(7) (a) [ETF Distribution Agreement between the Registrant and Foreside Fund Services, LLC dated August 1, 2022 – Incorporated by reference to Exhibit (e) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 25, 2022.](https://www.sec.gov/Archives/edgar/data/1496608/000091957422005249/d9719138_ex99-e.htm)

(b) [First Amendment to ETF Distribution Agreement between the and Foreside Fund Services, LLC, dated August 1, 2022, effective March 15, 2023 – Incorporated by reference to Exhibit (e)(2) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on October 18, 2024.](https://www.sec.gov/Archives/edgar/data/1496608/000091957424005945/d11475298_ex99e-2.htm)

(c) [Second Amendment to ETF Distribution Agreement between the Registrant and Foreside Fund Services, LLC, dated August 1, 2022, effective June 12, 2023 – Incorporated by reference to Exhibit (e)(3) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on October 18, 2024.](https://www.sec.gov/Archives/edgar/data/1496608/000091957424005945/d11475298_ex99e-3.htm)

(d) [Third Amendment to ETF Distribution Agreement between the Registrant and Foreside Fund Services, LLC, dated August 1, 2022, effective September 20, 2023 – Incorporated by reference to Exhibit (e)(4) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on October 18, 2024.](https://www.sec.gov/Archives/edgar/data/1496608/000091957424005945/d11498567_ex99e-4.htm)

(e) [Fourth Amendment to ETF Distribution Agreement between the Registrant and Foreside Fund Services, LLC, dated August 1, 2022, effective December 13, 2023 – Incorporated by reference to Exhibit (e)(5) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on October 18, 2024.](https://www.sec.gov/Archives/edgar/data/1496608/000091957424005945/d11498431_ex99e-5.htm)

(f) [Fifth Amendment to ETF Distribution Agreement between the Registrant and Foreside Fund Services, LLC, dated August 1, 2022, effective June 1, 2024 – Incorporated by reference to Exhibit (e)(6) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on October 18, 2024.](https://www.sec.gov/Archives/edgar/data/1496608/000091957424005945/d11498550_ex99e-6.htm)

(g) [Sixth Amendment to ETF Distribution Agreement between the Registrant and Foreside Fund Services, LLC, dated August 1, 2022, effective July 11, 2024 – Incorporated by reference to Exhibit (e)(7) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on October 18, 2024.](https://www.sec.gov/Archives/edgar/data/1496608/000091957424005945/d11498422_ex99e-7.htm)

(h) [Eighth Amendment to ETF Distribution Agreement between the Registrant and Foreside Fund Services, LLC, dated August 1, 2022, effective May 19, 2025 – Incorporated by reference to Exhibit (e)(8) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on May 30, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425003448/d11802271_ex99e-8.htm)

(8) Bonus, profit sharing, pension or other similar contracts or arrangements. – Not Applicable.

(9) (a) [Custody Agreement between the Registrant and State Street Bank and Trust Company dated July 22, 2022 – Incorporated by reference to Exhibit (g)(1) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 25, 2022](https://www.sec.gov/Archives/edgar/data/0001496608/000091957422005249/d9719138_ex99g-1.htm) .

(b) [Amendment to Custody Agreement between the Registrant and State Street Bank and Trust Company dated May 23, 2025, effective May 29, 2025 – Incorporated by reference to Exhibit (g)(2) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on May 30, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425003542/d11820980_ex99g-2.htm)

(10) (a) [Rule 12b-1 Distribution and Service Plan, dated August 5, 2022 – Incorporated by reference to Exhibit (m) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 25, 2022](https://www.sec.gov/Archives/edgar/data/0001496608/000091957422005249/d9450138_ex99-m.htm) .

(b) [Amendment to Rule 12b-1 Distribution and Service Plan, dated August 5, 2022, as amended May 9, 2025 – Incorporated by reference to Exhibit (m)(2) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on May 30, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425003542/d11820933_ex99m-2.htm)

(11) (a) [Opinion and Consent of Seward & Kissel LLP with respect to AB California Intermediate Municipal ETF regarding the legality of securities being registered – Incorporated by reference to Exhibit (11)(a) to Registrant's Registration Statement on Form N-14 (File No. 333-288493), filed with the Securities and Exchange Commission on July 2, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425003932/d11777069_ex11-a.htm)

(b) [Opinion and Consent of Seward & Kissel LLP with respect to AB New York Intermediate Municipal ETF regarding the legality of securities being registered – Incorporated by reference to Exhibit (11)(b) to Registrant's Registration Statement on Form N-14 (File No. 333-288493), filed with the Securities and Exchange Commission on July 2, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425003932/d11777069_ex11b.htm)

(c) [Opinion and Consent of Seward & Kissel LLP with respect to AB Core Bond ETF regarding the legality of securities being registered – Incorporated by reference to Exhibit (11)(c) to Registrant's Registration Statement on Form N-14 (File No. 333-288493), filed with the Securities and Exchange Commission on July 2, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425003932/d11777069_ex-11c.htm)

(12) (a) Opinion and Consent of Seward & Kissel LLP with respect to AB California Intermediate Municipal
 ETF as to Tax matters – Filed herewith.

(b) Opinion and Consent of Seward & Kissel LLP with respect to AB New York Intermediate Municipal
 ETF as to Tax matters – Filed herewith.

(c) Opinion and Consent of Seward & Kissel LLP with respect to AB Core Bond ETF as to Tax matters
 – Filed herewith.

(13) (a) [Fund Administration Agreement between the Registrant and State Street Bank and Trust Company dated August 8, 2022 – Incorporated by reference to Exhibit (h)(1) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 25, 2022](https://www.sec.gov/Archives/edgar/data/0001496608/000091957422005249/d9719138_ex99h-1.htm) .

(b) [Amendment to Fund Administration Agreement between the Registrant and State Street Bank and Trust Company dated September 25, 2025 – Incorporated by reference to Exhibit (h)(2) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on October 24, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425006258/d12014989_ex99h-2.htm)

(c) [Form of Authorized Participant Agreement – Incorporated by reference to Exhibit (h)(2) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 25, 2022](https://www.sec.gov/Archives/edgar/data/0001496608/000091957422005249/d9719138_ex99h-2.htm) .

(d) [Transfer Agency and Service Agreement between the Registrant and State Street Bank and Trust Company dated August 8, 2022 – Incorporated by reference to Exhibit (h)(3) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 25, 2022](https://www.sec.gov/Archives/edgar/data/0001496608/000091957422005249/d9719138_ex99h-3.htm) .

(e) [Amendment to Transfer Agency and Service Agreement between the Registrant and State Street Bank and Trust Company dated September 25, 2025 – Incorporated by reference to Exhibit (h)(5) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on October 24, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425006258/d12014989_ex99h-5.htm)

(f) [Form of Acquiring Fund of Funds Investment Agreement – Incorporated by reference to Exhibit (h)(4) to Registrant's Registration Statement on Form N-1A (File Nos. 811-23799 and 333-264818), filed with the Securities and Exchange Commission on August 25, 2022](https://www.sec.gov/Archives/edgar/data/0001496608/000091957422005249/d9719138_ex99h-4.htm) .

(14) (a) [Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm for Sanford C. Bernstein, Inc. – Incorporated by reference to Exhibit (14)(a) to Registrant's Registration Statement on Form N-14 (File No. 333-288493), filed with the Securities and Exchange Commission on July 2, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425003932/d11777069_ex14a.htm)

(b) [Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm for Sanford C. Bernstein Fund II, Inc. – Incorporated by reference to Exhibit (14)(b) to Registrant's Registration Statement on Form N-14 (File No. 333-288493), filed with the Securities and Exchange Commission on July 2, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425003932/d11777069_ex14-b.htm)

(15) Financial Statements omitted pursuant to Item 14(a)(1). – Not Applicable.

(16) [Powers of Attorney for: Jorge A. Bermudez, Alexander Chaloff, R. Jay Gerken, Jeffrey R. Holland, Jeanette W. Loeb, Carol C. McMullen, Gary L. Moody and Emilie D. Wrapp – Incorporated by reference to Exhibit (16) to Registrant's Registration Statement on Form N-14 (File No. 333-288493), filed with the Securities and Exchange Commission on July 2, 2025.](https://www.sec.gov/Archives/edgar/data/1496608/000091957425003932/d11777069_ex-16.htm)

(17) Additional Exhibits. – Not Applicable.

<u>ITEM 17</u>. <u>Undertakings</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The undersigned registrant agrees that prior to any public reoffering of the securities registered through the use of a prospectus which is a part of this registration statement by any person or party who is deemed to be an underwriter within the meaning of Rule 145(c) of the Securities Act 17 CFR 230.145(c), the reoffering prospectus will contain the information called for by the applicable registration form for reofferings by persons who may be deemed underwriters, in addition to the information called for by the other items of the applicable form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The undersigned registrant agrees that every prospectus that is filed under paragraph (1) above will be filed as a part of an amendment to the registration statement and will not be used until the amendment is effective, and that, in determining any liability under the 1933 Act, each post-effective amendment shall be deemed to be a new registration statement for the securities offered therein, and the offering of the securities at that time shall be deemed to be the initial bona fide offering of them.

<u>SIGNATURES</u>

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this Post-Effective Amendment No. 1 to the Registration Statement on Form N-14 to be signed on its behalf by the undersigned, duly authorized, in the City and State of New York, on the 23rd day of March, 2026.

---

| |
|:---|
| AB ACTIVE ETFs, INC. |
| By: <u>/s/ Onur Erzan</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Onur Erzan |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President |

---

As required by the Securities Act of 1933, as amended, this Post-Effective Amendment No. 1 to the Registration Statement on Form N-14 has been signed below by the following persons in the capacities and on the dates indicated:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;<u>Signature</u> | &nbsp;&nbsp;<u>Title</u> | &nbsp;&nbsp;<u>Date</u> |
| &nbsp;&nbsp;1) | &nbsp;&nbsp;Principal Executive Officer: |  |  |
|  | &nbsp;&nbsp;<u>/s/ Onur Erzan</u> | &nbsp;&nbsp;President and | &nbsp;&nbsp; March 23, 2026 |
|  | &nbsp;&nbsp; Onur Erzan | &nbsp;&nbsp;Chief Executive Officer |  |
| &nbsp;&nbsp;2) | &nbsp;&nbsp;Principal Financial |  |  |
|  | &nbsp;&nbsp;and Accounting Officer: |  |  |
|  | &nbsp;&nbsp;<u>/s/ Stephen M. Woetzel</u> | &nbsp;&nbsp;Principal Accounting | &nbsp;&nbsp; March 23, 2026 |
|  | &nbsp;&nbsp; Stephen M. Woetzel | &nbsp;&nbsp;Officer, Treasurer and |  |
|  |  | &nbsp;&nbsp;Chief Financial Officer |  |
| &nbsp;&nbsp;3) | &nbsp;&nbsp;All of the Directors: |  |  |
|  | &nbsp;&nbsp;Jorge A. Bermudez\* |  |  |
|  | &nbsp;&nbsp;Alexander Chaloff\* |  |  |
|  | &nbsp;&nbsp;R. Jay Gerken\* |  |  |
|  | &nbsp;&nbsp;Jeffrey R. Holland\* |  |  |
|  | &nbsp;&nbsp;Jeanette W. Loeb\* |  |  |
|  | &nbsp;&nbsp;Carol C. McMullen\* |  |  |
|  | &nbsp;&nbsp;Garry L. Moody\* |  |  |
|  | &nbsp;&nbsp;Emilie D. Wrapp\* |  |  |
|  | &nbsp;&nbsp;\*By: <u>/s/ Nancy E. Hay</u> |  | &nbsp;&nbsp; March 23, 2026 |
|  | &nbsp;&nbsp; Nancy E. Hay |  |  |
|  | &nbsp;&nbsp; (Attorney-in-fact) |  |  |

---

<u>Index to Exhibits</u>

---

| | |
|:---|:---|
| <u>Exhibit No</u>. | <u>Description of Exhibits</u> |
| (12) (a) | [Opinion and Consent of Seward & Kissel LLP with respect to AB California Intermediate Municipal ETF as to Tax matters](d12012772_ex12-a.htm) |
| (b) | [Opinion and Consent of Seward & Kissel LLP with respect to AB New York Intermediate Municipal ETF as to Tax matters](d11994318_ex12-b.htm) |
| (c) | [Opinion and Consent of Seward & Kissel LLP with respect to AB Core Bond ETF as to Tax matters](d11994312_ex12-c.htm) |

---

## Ex-12.A

Exhibit 12(a)

---

| | | |
|:---|:---|:---|
|  | **Seward & Kissel llp**<br> 901 K STREET, NW<br> WASHINGTON, D.C. 20001 |  |
| WRITER'S DIRECT DIAL: | TELEPHONE: (202) 737-8833<br> FACSIMILE: (202) 737-5184<br> WWW.SEWKIS.COM | ONE BATTERY PARK PLAZA<br> NEW YORK, NEW YORK 10004<br> TELEPHONE: (212) 574-1200<br> FACSIMILE: (212) 480-8421 |

---

October 3, 2025

AllianceBernstein L.P.

66 Hudson Boulevard East, 26<sup>th</sup> Floor

New York, New York 10001

Re: Acquisition of the Assets and Assumption of the Liabilities of <br> California Municipal Portfolio of Sanford C. Bernstein Fund, Inc. <br> <u>by AB Active ETFs, Inc.</u> 

Ladies and Gentlemen:

**I.** **Introduction**

We have acted as counsel to AB Active ETFs, Inc., a Maryland corporation (the "ETF Company"), on behalf of AB California Intermediate Municipal ETF, a series of the ETF Company (the "Acquiring Fund"), in connection with the reorganization (the "Reorganization") provided for in the Agreement and Plan of Acquisition and Termination relating to the Reorganization of the Assets and Liabilities of California Municipal Portfolio of Sanford C. Bernstein Fund, Inc., a Maryland corporation (the "Mutual Fund Company"), among the ETF Company, on behalf of the Acquiring Fund and the Mutual Fund Company, on behalf of California Municipal Portfolio, a series of the Mutual Fund Company (the "Acquired Fund" and, together with the Acquiring Fund, the "Funds"), dated as of May 8, 2025 (the "Plan"). Pursuant to Section 7(d) of the Plan, the Acquired Fund and the Acquiring Fund have requested our opinion as to certain of the United States federal income tax consequences to the Acquiring Fund, the Acquired Fund and the shareholders of the Acquired Fund ("Acquired Fund Stockholders") in connection with the Reorganization. Each capitalized term not defined herein has the meaning ascribed to that term in the Plan.

October 3, 2025

**II.** **Relevant Facts**

The Acquiring Fund and the Acquired Fund are each a series of an open-end management investment company registered with the Securities and Exchange Commission (the "SEC") under the Investment Company Act of 1940, as amended (the "Act").

The Plan and the Reorganization have been approved by the Board of the Mutual Fund Company acting on behalf of the Acquired Fund and the Board of the ETF Company acting on behalf of the Acquiring Fund. The terms and conditions of the Reorganization are set forth in the Plan.

Pursuant to the Plan, the Acquired Fund will transfer all of its Assets to the Acquiring Fund in exchange for shares of the Acquiring Fund ("Acquisition Shares") and the assumption by the Acquiring Fund of all the liabilities of the Acquired Fund. At the Closing Date or as soon as reasonably practicable thereafter, the Acquired Fund will liquidate and distribute all of the Acquisition Shares that it received in connection with the Reorganization to the Acquired Fund Stockholders in exchange for all of the then outstanding shares of the Acquired Fund ("Acquired Fund Shares"), except for the fractional Acquired Fund Shares. The Acquired Fund will pay cash in lieu of exchanging fractional Acquisition Shares to the Acquired Fund Stockholders who hold fractional Acquired Fund Shares. Cash equal to the net asset value of the Acquired Fund Shares will also be paid to an Acquired Fund Stockholder who does not hold their Acquired Fund Shares in a brokerage account.

Upon completion of the Reorganization, almost all former Acquired Fund Stockholders (other than the Acquired Fund Stockholders who only own fractional Acquired Fund Shares and those who do not hold their Acquired Fund Shares in a brokerage account) will be the owners of the Acquisition Shares equal in net asset value as of the Closing Date to the net asset value of the Acquired Fund Shares such stockholder held prior to the Reorganization. Pursuant to the Plan, direct expenses related to the Reorganization, except for fees and expenses of independent counsel to members of the Board of Directors who are not "interested persons" of a Fund, will be allocated between AllianceBernstein L.P. and the Funds. Legal expenses of the Acquiring Fund relating to the Reorganization will be borne by AllianceBernstein L.P and legal expenses of the Acquired Fund relating to the Reorganization will be borne by the Acquired Fund. Pursuant to the Plan, other offering expenses of the Acquiring Fund will be borne by AllianceBernstein L.P. With respect to the other Reorganization expenses, such expenses will be allocated 50% to the Acquiring Fund and borne by AllianceBernstein L.P., and 50% to the Acquired Fund.

The Acquiring Fund will have the same investment objective as the Acquired Fund had immediately prior to the Reorganization.

In rendering the opinions set forth below, we have examined the Registration Statement on Form N-14 of the Acquiring Fund relating to the Reorganization and such other documents and materials as we have deemed relevant. For purposes of rendering our opinions, we have relied exclusively, as to factual matters, upon the statements made in that Registration Statement and, with your approval, upon certain assumptions the correctness of each of which have been verified (or appropriately represented) to us by officers of the Mutual Fund Company

October 3, 2025

on behalf of the Acquired Fund or by officers of the ETF Company, on behalf of the Acquiring Fund.

**III.** **Relevant Law**

A corporation which is a "party to a reorganization" will not recognize gain or loss if it exchanges property pursuant to a plan of reorganization solely for stock or securities of another corporation which is a party to the reorganization.<sup>1</sup> Likewise, the shareholders of a corporation which is a party to a reorganization will not recognize gain or loss if they exchange stock or securities of such corporation solely for stock or securities in such corporation or another corporation which is a party to the reorganization in pursuance of the plan of reorganization.<sup>2</sup>

In order to be a treated as a "reorganization," a transaction must satisfy certain statutory requirements contained in Section 368.

Section 368(a)(1)(F) provides that a "reorganization" includes "a mere change in identity, form, or place of organization of one corporation, however effected."

Treasury Regulations Section 1.368-2(m) provides six requirements for a reorganization to qualify under Section 368(a)(1)(F):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) All of the stock of the acquiring corporation, including any stock of the acquiring corporation issued
before the reorganization, must have been distributed (or deemed distributed) in exchange for stock of the acquired corporation in the
reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The same person or persons must own all
 of the stock of the acquired corporation, immediately before the reorganization, and the
 acquiring corporation, immediately after the reorganization, in identical proportions, provided,
 however, that this requirement is not violated if one or more holders receive a distribution
 of money from the acquired corporation<sup>3</sup>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The acquiring corporation may not hold any property or have any tax attributes immediately before the
reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The acquired corporation must completely liquidate, for federal income tax purposes, in the reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The acquiring corporation must be the only acquiring corporation; and

------

<sup>1</sup> Code § 361. Unless otherwise noted, all references to the "Code" or a "Section" of the Code are to the United States Internal Revenue Code of 1986, as amended (the "Code").

<sup>2</sup> Code § 354.

<sup>3</sup> Treas. Reg. §§ 1.368-2(m)(1)(i), 1.368-2(m)(4) Ex. 2; *See also* Rev. Rul. 96-29 ("a transaction will not fail to qualify as a reorganization under Section 368(a)(1)(F) if dissenters owning fewer than 1 percent of the outstanding shares of the corporation fail to participate in the transaction").

October 3, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The acquired corporation must be the only acquired corporation.

Under Section 356, a shareholder of the acquired corporation who receives the property other than stock or securities of the acquiring corporation must recognize gain in an amount not in excess of the sum of money and the fair market value of other property.

The Reorganization will consist of a transfer of all of the assets of the Acquired Fund, a series of a Maryland corporation, to the Acquiring Fund, a newly formed series of a Maryland corporation (each such series is treated as a separate corporation for United States federal income tax purposes pursuant to Section 851(g)), in exchange solely for (i) the assumption by the Acquiring Fund of all of the liabilities of the Acquired Fund and (ii) shares of the Acquiring Fund, which will then be distributed to the corresponding Acquired Fund Stockholders in liquidation of the Acquired Fund. While the Acquired Fund will pay cash (i) in lieu of exchanging fractional shares and (ii) to an Acquired Fund Stockholder who does not hold its Acquired Fund Shares in a brokerage account that can accept the Acquisition Shares, these types of cash payments will not cause the Reorganization to fail to qualify under the Regulations. The Acquiring Fund will be formed solely for the purpose of effectuating the Reorganization and does not hold any property or have any tax attributes immediately before the Reorganization. Therefore, the Reorganization is a mere change in identity or form of the Acquired Fund and the Reorganization will satisfy the statutory language of Section 368(a)(1)(F) and the requirements of Treasury Regulations Section 1.368-2(m) to be treated as a "reorganization" described in Section 368(a)(1)(F). Although a Reorganization may also be described in another subsection of Section 368(a)(1) (such as Section 368(a)(1)(C)), a reorganization described in Section 368(a)(1)(F) that is also described in another subsection of Section 368(a)(1) will be treated as described only in Section 368(a)(1)(F).<sup>4</sup>

A reorganization under Section 368(a)(1)(F) is not required to satisfy the "continuity of business enterprise" or "continuity of interest" requirements established by judicial doctrine and Treasury Regulations.<sup>5</sup>

Section 381(a) provides that in the case of a reorganization described under Section 368(a)(1)(F), the acquiring corporation will succeed to certain items of the acquired corporation, including capital loss carryovers. Section 381(b) provides that the taxable year of a corporation in a reorganization described in Section 368(a)(1)(F) does not close.

**IV.** **Opinions**

Based upon the foregoing and upon our review of the Code, the Treasury Regulations promulgated under the Code, published Revenue Rulings, Revenue Procedures and other published pronouncements of the IRS, the published opinions of the United States Tax Court and other Federal courts, and such other authorities as we consider relevant, each as they exist as of the date hereof, we are of the opinion that, for the United States federal income tax purposes:

------

<sup>4</sup> Treas. Reg. § 1.368-2(m)(3)(iv)(B).

<sup>5</sup> Treas. Reg. § 1.368-2(m)(2).

October 3, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Acquiring Fund's acquisition of all of the assets of the Acquired Fund in exchange solely for Acquisition Shares and the Acquiring Fund's assumption of all of the liabilities of the Acquired Fund, followed by the Acquired Fund's distribution of the Acquisition Shares to the Acquired Fund Stockholders actually or constructively in liquidation of the Acquired Fund, will constitute a "reorganization" described in Section 368(a)(1)(F), and both the Acquiring Fund and the Acquired Fund will be "a party to a reorganization" (within the meaning of Section 368(b)) with respect to the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Acquired Fund will not recognize any gain or loss upon the transfer of its assets to the Acquiring Fund in exchange solely for Acquisition Shares and the Acquiring Fund's assumption of the liabilities of the Acquired Fund. The Acquired Fund will not recognize any gain or loss on the subsequent distribution (whether actual or constructive) of those Acquisition Shares to the Acquired Fund Stockholders in exchange for their Acquired Fund Shares, except for gain or loss that must be recognized under the Code (A) on the transfer of "section 1256 contracts" as defined in Section 1256(b), (B) on the transfer of stock in a "passive foreign investment company" as defined in Section 1297(a), or (C) upon the transfer of an asset even if the transaction otherwise constitutes a nonrecognition transaction under the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) No gain or loss will be recognized by the Acquiring Fund as a result of the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) No gain or loss will be recognized by the Acquired Fund Stockholders upon the distribution to them by the Acquiring Fund of the Acquisition Shares in exchange for their Acquired Fund Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The aggregate tax basis of the Acquisition Shares received by each Acquired Fund Stockholder will be the same as the aggregate tax basis of the Acquired Fund Stockholder's Acquired Fund Shares immediately prior to the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The Acquiring Fund's tax basis in each asset will be the same as the corresponding Acquired Fund's tax basis therein immediately before the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) An Acquired Fund Stockholder's holding period for the Acquisition Shares received in the Reorganization will include such Acquired Fund Stockholder's holding period for those Acquired Fund Shares exchanged therefor, provided the Acquired Fund Stockholder holds the Acquired Fund Shares as capital assets at the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) To the extent an Acquired Fund Stockholder receives cash, the Acquired Fund Stockholder will recognize capital gains in an amount not in excess of the sum of money received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) The Acquiring Fund's holding period with respect to the Acquired Fund asset will include the Acquired Fund's holding period therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) A Reorganization will not result in the termination of the Acquired Fund's taxable year and the Acquiring Fund will succeed to and take into account the items of the

October 3, 2025

Acquired Fund, if any, described under Section 381(c), subject to the conditions and limitations specified in Sections 381, 382, 383 and 384 and the Treasury Regulations thereunder.

Because our opinion is based upon current law, no assurance can be given that existing United States federal income tax laws will not be changed by future legislative or administrative or judicial interpretation, any of which could affect the opinion expressed above. This opinion is provided to you in connection with the Reorganization. This opinion may not be quoted or relied upon by any other person or entity, or for any other purpose, without our prior written consent.

&nbsp;&nbsp; <br> Very truly yours,<br>/s/ Seward & Kissel LLP <br>

## Ex-12.B

Exhibit 12(b)

---

| | | |
|:---|:---|:---|
|  | **Seward & Kissel llp**<br> 901 K STREET, NW<br> WASHINGTON, D.C. 20001 |  |
| WRITER'S DIRECT DIAL: | TELEPHONE: (202) 737-8833<br> FACSIMILE: (202) 737-5184<br> WWW.SEWKIS.COM | ONE BATTERY PARK PLAZA<br> NEW YORK, NEW YORK 10004<br> TELEPHONE: (212) 574-1200<br> FACSIMILE: (212) 480-8421 |

---

November 7, 2025

AllianceBernstein L.P.

66 Hudson Boulevard East, 26<sup>th</sup> Floor

New York, New York 10001

Re: Acquisition of the Assets and Assumption of the Liabilities of<br> New York Municipal Portfolio of Sanford C. Bernstein Fund, Inc. <u><br> by AB Active ETFs, Inc.</u> 

Ladies and Gentlemen:

**I.** **Introduction**

We have acted as counsel to AB Active ETFs, Inc., a Maryland corporation (the "ETF Company"), on behalf of AB New York Intermediate Municipal ETF, a series of the ETF Company (the "Acquiring Fund"), in connection with the reorganization (the "Reorganization") provided for in the Agreement and Plan of Acquisition and Termination relating to the Reorganization of the Assets and Liabilities of New York Municipal Portfolio of Sanford C. Bernstein Fund, Inc., a Maryland corporation (the "Mutual Fund Company"), among the ETF Company, on behalf of the Acquiring Fund and the Mutual Fund Company, on behalf of New York Municipal Portfolio, a series of the Mutual Fund Company (the "Acquired Fund" and, together with the Acquiring Fund, the "Funds"), dated as of May 8, 2025 (the "Plan"). Pursuant to Section 7(d) of the Plan, the Acquired Fund and the Acquiring Fund have requested our opinion as to certain of the United States federal income tax consequences to the Acquiring Fund, the Acquired Fund and the shareholders of the Acquired Fund ("Acquired Fund Stockholders") in connection with the Reorganization. Each capitalized term not defined herein has the meaning ascribed to that term in the Plan.

November 7, 2025

**II.** **Relevant Facts**

The Acquiring Fund and the Acquired Fund are each a series of an open-end management investment company registered with the Securities and Exchange Commission (the "SEC") under the Investment Company Act of 1940, as amended (the "Act").

The Plan and the Reorganization have been approved by the Board of the Mutual Fund Company acting on behalf of the Acquired Fund and the Board of the ETF Company acting on behalf of the Acquiring Fund. The terms and conditions of the Reorganization are set forth in the Plan.

Pursuant to the Plan, the Acquired Fund will transfer all of its Assets to the Acquiring Fund in exchange for shares of the Acquiring Fund ("Acquisition Shares") and the assumption by the Acquiring Fund of all the liabilities of the Acquired Fund. At the Closing Date or as soon as reasonably practicable thereafter, the Acquired Fund will liquidate and distribute all of the Acquisition Shares that it received in connection with the Reorganization to the Acquired Fund Stockholders in exchange for all of the then outstanding shares of the Acquired Fund ("Acquired Fund Shares"), except for the fractional Acquired Fund Shares. The Acquired Fund will pay cash in lieu of exchanging fractional Acquisition Shares to the Acquired Fund Stockholders who hold fractional Acquired Fund Shares. Cash equal to the net asset value of the Acquired Fund Shares will also be paid to an Acquired Fund Stockholder who does not hold their Acquired Fund Shares in a brokerage account.

Upon completion of the Reorganization, almost all former Acquired Fund Stockholders (other than the Acquired Fund Stockholders who only own fractional Acquired Fund Shares and those who do not hold their Acquired Fund Shares in a brokerage account) will be the owners of the Acquisition Shares equal in net asset value as of the Closing Date to the net asset value of the Acquired Fund Shares such stockholder held prior to the Reorganization. Pursuant to the Plan, direct expenses related to the Reorganization, except for fees and expenses of independent counsel to members of the Board of Directors who are not "interested persons" of a Fund, will be allocated between AllianceBernstein L.P and the Funds. Legal expenses of the Acquiring Fund relating to the Reorganization will be borne by AllianceBernstein L.P and legal expenses of the Acquired Fund relating to the Reorganization will be borne by the Acquired Fund. Pursuant to the Plan, other offering expenses of the Acquiring Fund will be borne by AllianceBernstein L.P. With respect to the other Reorganization expenses, such expenses will be allocated 50% to the Acquiring Fund and borne by AllianceBernstein L.P., and 50% to the Acquired Fund.

The Acquiring Fund will have the same investment objective as the Acquired Fund had immediately prior to the Reorganization.

In rendering the opinions set forth below, we have examined the Registration Statement on Form N-14 of the Acquiring Fund relating to the Reorganization and such other documents and materials as we have deemed relevant. For purposes of rendering our opinions, we have relied exclusively, as to factual matters, upon the statements made in that Registration Statement and, with your approval, upon certain assumptions the correctness of each of which have been verified (or appropriately represented) to us by officers of the Mutual Fund Company

November 7, 2025

on behalf of the Acquired Fund or by officers of the ETF Company, on behalf of the Acquiring Fund.

**III.** **Relevant Law**

A corporation which is a "party to a reorganization" will not recognize gain or loss if it exchanges property pursuant to a plan of reorganization solely for stock or securities of another corporation which is a party to the reorganization.<sup>1</sup> Likewise, the shareholders of a corporation which is a party to a reorganization will not recognize gain or loss if they exchange stock or securities of such corporation solely for stock or securities in such corporation or another corporation which is a party to the reorganization in pursuance of the plan of reorganization.<sup>2</sup>

In order to be a treated as a "reorganization," a transaction must satisfy certain statutory requirements contained in Section 368.

Section 368(a)(1)(F) provides that a "reorganization" includes "a mere change in identity, form, or place of organization of one corporation, however effected."

Treasury Regulations Section 1.368-2(m) provides six requirements for a reorganization to qualify under Section 368(a)(1)(F):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) All of the stock of the acquiring corporation, including any stock of the acquiring corporation issued
before the reorganization, must have been distributed (or deemed distributed) in exchange for stock of the acquired corporation in the
reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The same person or persons must own all
 of the stock of the acquired corporation, immediately before the reorganization, and the
 acquiring corporation, immediately after the reorganization, in identical proportions, provided,
 however, that this requirement is not violated if one or more holders receive a distribution
 of money from the acquired corporation<sup>3</sup>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The acquiring corporation may not hold any property or have any tax attributes immediately before the
reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The acquired corporation must completely liquidate, for federal income tax purposes, in the reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The acquiring corporation must be the only acquiring corporation; and

------

<sup>1</sup> Code § 361. Unless otherwise noted, all references to the "Code" or a "Section" of the Code are to the United States Internal Revenue Code of 1986, as amended (the "Code").

<sup>2</sup> Code § 354.

<sup>3</sup> Treas. Reg. §§ 1.368-2(m)(1)(i), 1.368-2(m)(4) Ex. 2; *See also* Rev. Rul. 96-29 ("a transaction will not fail to qualify as a reorganization under Section 368(a)(1)(F) if dissenters owning fewer than 1 percent of the outstanding shares of the corporation fail to participate in the transaction").

November 7, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The acquired corporation must be the only acquired corporation.

Under Section 356, a shareholder of the acquired corporation who receives the property other than stock or securities of the acquiring corporation must recognize gain in an amount not in excess of the sum of money and the fair market value of other property.

The Reorganization will consist of a transfer of all of the assets of the Acquired Fund, a series of a Maryland corporation, to the Acquiring Fund, a newly formed series of a Maryland corporation (each such series is treated as a separate corporation for United States federal income tax purposes pursuant to Section 851(g)), in exchange solely for (i) the assumption by the Acquiring Fund of all of the liabilities of the Acquired Fund and (ii) shares of the Acquiring Fund, which will then be distributed to the corresponding Acquired Fund Stockholders in liquidation of the Acquired Fund. While the Acquired Fund will pay cash (i) in lieu of exchanging fractional shares and (ii) to an Acquired Fund Stockholder who does not hold its Acquired Fund Shares in a brokerage account that can accept the Acquisition Shares, these types of cash payments will not cause the Reorganization to fail to qualify under the Regulations. The Acquiring Fund will be formed solely for the purpose of effectuating the Reorganization and does not hold any property or have any tax attributes immediately before the Reorganization. Therefore, the Reorganization is a mere change in identity or form of the Acquired Fund and the Reorganization will satisfy the statutory language of Section 368(a)(1)(F) and the requirements of Treasury Regulations Section 1.368-2(m) to be treated as a "reorganization" described in Section 368(a)(1)(F). Although a Reorganization may also be described in another subsection of Section 368(a)(1) (such as Section 368(a)(1)(C)), a reorganization described in Section 368(a)(1)(F) that is also described in another subsection of Section 368(a)(1) will be treated as described only in Section 368(a)(1)(F).<sup>4</sup>

A reorganization under Section 368(a)(1)(F) is not required to satisfy the "continuity of business enterprise" or "continuity of interest" requirements established by judicial doctrine and Treasury Regulations.<sup>5</sup>

Section 381(a) provides that in the case of a reorganization described under Section 368(a)(1)(F), the acquiring corporation will succeed to certain items of the acquired corporation, including capital loss carryovers. Section 381(b) provides that the taxable year of a corporation in a reorganization described in Section 368(a)(1)(F) does not close.

**IV.** **Opinions**

Based upon the foregoing and upon our review of the Code, the Treasury Regulations promulgated under the Code, published Revenue Rulings, Revenue Procedures and other published pronouncements of the IRS, the published opinions of the United States Tax Court and other Federal courts, and such other authorities as we consider relevant, each as they exist as of the date hereof, we are of the opinion that, for the United States federal income tax purposes:

------

<sup>4</sup> Treas. Reg. § 1.368-2(m)(3)(iv)(B).

<sup>5</sup> Treas. Reg. § 1.368-2(m)(2).

November 7, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Acquiring Fund's acquisition of all of the assets of the Acquired Fund in exchange solely for Acquisition Shares and the Acquiring Fund's assumption of all of the liabilities of the Acquired Fund, followed by the Acquired Fund's distribution of the Acquisition Shares to the Acquired Fund Stockholders actually or constructively in liquidation of the Acquired Fund, will constitute a "reorganization" described in Section 368(a)(1)(F), and both the Acquiring Fund and the Acquired Fund will be "a party to a reorganization" (within the meaning of Section 368(b)) with respect to the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Acquired Fund will not recognize any gain or loss upon the transfer of its assets to the Acquiring Fund in exchange solely for Acquisition Shares and the Acquiring Fund's assumption of the liabilities of the Acquired Fund. The Acquired Fund will not recognize any gain or loss on the subsequent distribution (whether actual or constructive) of those Acquisition Shares to the Acquired Fund Stockholders in exchange for their Acquired Fund Shares, except for gain or loss that must be recognized under the Code (A) on the transfer of "section 1256 contracts" as defined in Section 1256(b), (B) on the transfer of stock in a "passive foreign investment company" as defined in Section 1297(a), or (C) upon the transfer of an asset even if the transaction otherwise constitutes a nonrecognition transaction under the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) No gain or loss will be recognized by the Acquiring Fund as a result of the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) No gain or loss will be recognized by the Acquired Fund Stockholders upon the distribution to them by the Acquiring Fund of the Acquisition Shares in exchange for their Acquired Fund Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The aggregate tax basis of the Acquisition Shares received by each Acquired Fund Stockholder will be the same as the aggregate tax basis of the Acquired Fund Stockholder's Acquired Fund Shares immediately prior to the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The Acquiring Fund's tax basis in each asset will be the same as the corresponding Acquired Fund's tax basis therein immediately before the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) An Acquired Fund Stockholder's holding period for the Acquisition Shares received in the Reorganization will include such Acquired Fund Stockholder's holding period for those Acquired Fund Shares exchanged therefor, provided the Acquired Fund Stockholder holds the Acquired Fund Shares as capital assets at the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) To the extent an Acquired Fund Stockholder receives cash, the Acquired Fund Stockholder will recognize capital gains in an amount not in excess of the sum of money received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) The Acquiring Fund's holding period with respect to the Acquired Fund asset will include the Acquired Fund's holding period therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) A Reorganization will not result in the termination of the Acquired Fund's taxable year and the Acquiring Fund will succeed to and take into account the items of the

November 7, 2025

Acquired Fund, if any, described under Section 381(c), subject to the conditions and limitations specified in Sections 381, 382, 383 and 384 and the Treasury Regulations thereunder.

Because our opinion is based upon current law, no assurance can be given that existing United States federal income tax laws will not be changed by future legislative or administrative or judicial interpretation, any of which could affect the opinion expressed above. This opinion is provided to you in connection with the Reorganization. This opinion may not be quoted or relied upon by any other person or entity, or for any other purpose, without our prior written consent.

&nbsp;&nbsp; <br> Very truly yours,<br>/s/ Seward & Kissel LLP<br>

## Ex-12.C

Exhibit 12(c)

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|:---|:---|:---|
|  | **Seward & Kissel llp**<br> 901 K STREET, NW<br> WASHINGTON, D.C. 20001 |  |
| WRITER'S DIRECT DIAL: | TELEPHONE: (202) 737-8833<br> FACSIMILE: (202) 737-5184<br> WWW.SEWKIS.COM | ONE BATTERY PARK PLAZA<br> NEW YORK, NEW YORK 10004<br> TELEPHONE: (212) 574-1200<br> FACSIMILE: (212) 480-8421 |

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November 7, 2025

AllianceBernstein L.P.

66 Hudson Boulevard East, 26<sup>th</sup> Floor

New York, New York 10001

Re: Acquisition of the Assets and Assumption of the Liabilities of<br> Bernstein Intermediate Duration Institutional Portfolio of <br> <u>Sanford C. Bernstein Fund II, Inc. by AB Active ETFs, Inc.</u> 

Ladies and Gentlemen:

**I.** **Introduction**

We have acted as counsel to AB Active ETFs, Inc., a Maryland corporation (the "ETF Company"), on behalf of AB Core Bond ETF, a series of the ETF Company (the "Acquiring Fund"), in connection with the reorganization (the "Reorganization") provided for in the Agreement and Plan of Acquisition and Termination relating to the Reorganization of the Assets and Liabilities of Bernstein Intermediate Duration Institutional Portfolio of Sanford C. Bernstein Fund II, Inc., a Maryland corporation (the "Mutual Fund Company"), among the ETF Company, on behalf of the Acquiring Fund and the Mutual Fund Company, on behalf of Bernstein Intermediate Duration Institutional Portfolio, a series of the Mutual Fund Company (the "Acquired Fund" and, together with the Acquiring Fund, the "Funds"), dated as of May 8, 2025 (the "Plan"). Pursuant to Section 7(d) of the Plan, the Acquired Fund and the Acquiring Fund have requested our opinion as to certain of the United States federal income tax consequences to the Acquiring Fund, the Acquired Fund and the shareholders of the Acquired Fund ("Acquired Fund Stockholders") in connection with the Reorganization. Each capitalized term not defined herein has the meaning ascribed to that term in the Plan.

November 7, 2025

**II.** **Relevant Facts**

The Acquiring Fund and the Acquired Fund are each a series of an open-end management investment company registered with the Securities and Exchange Commission (the "SEC") under the Investment Company Act of 1940, as amended (the "Act").

The Plan and the Reorganization have been approved by the Board of the Mutual Fund Company acting on behalf of the Acquired Fund and the Board of the ETF Company acting on behalf of the Acquiring Fund. The terms and conditions of the Reorganization are set forth in the Plan.

Pursuant to the Plan, the Acquired Fund will transfer all of its Assets to the Acquiring Fund in exchange for shares of the Acquiring Fund ("Acquisition Shares") and the assumption by the Acquiring Fund of all the liabilities of the Acquired Fund. At the Closing Date or as soon as reasonably practicable thereafter, the Acquired Fund will liquidate and distribute all of the Acquisition Shares that it received in connection with the Reorganization to the Acquired Fund Stockholders in exchange for all of the then outstanding shares of the Acquired Fund ("Acquired Fund Shares"), except for the fractional Acquired Fund Shares. The Acquired Fund will pay cash in lieu of exchanging fractional Acquisition Shares to the Acquired Fund Stockholders who hold fractional Acquired Fund Shares. Cash equal to the net asset value of the Acquired Fund Shares will also be paid to an Acquired Fund Stockholder who does not hold their Acquired Fund Shares in a brokerage account.

Upon completion of the Reorganization, almost all former Acquired Fund Stockholders (other than the Acquired Fund Stockholders who only own fractional Acquired Fund Shares and those who do not hold their Acquired Fund Shares in a brokerage account) will be the owners of the Acquisition Shares equal in net asset value as of the Closing Date to the net asset value of the Acquired Fund Shares such stockholder held prior to the Reorganization. Pursuant to the Plan, all expenses related to the Reorganization will be borne by AllianceBernstein L.P., except for fees and expenses of independent counsel to members of the Board of Directors who are not "interested persons" of a Fund.

The Acquiring Fund will have the same investment objective as the Acquired Fund had immediately prior to the Reorganization.

In rendering the opinions set forth below, we have examined the Registration Statement on Form N-14 of the Acquiring Fund relating to the Reorganization and such other documents and materials as we have deemed relevant. For purposes of rendering our opinions, we have relied exclusively, as to factual matters, upon the statements made in that Registration Statement and, with your approval, upon certain assumptions the correctness of each of which have been verified (or appropriately represented) to us by officers of the Mutual Fund Company on behalf of the Acquired Fund or by officers of the ETF Company, on behalf of the Acquiring Fund.

November 7, 2025

**III.** **Relevant Law**

A corporation which is a "party to a reorganization" will not recognize gain or loss if it exchanges property pursuant to a plan of reorganization solely for stock or securities of another corporation which is a party to the reorganization.<sup>1</sup> Likewise, the shareholders of a corporation which is a party to a reorganization will not recognize gain or loss if they exchange stock or securities of such corporation solely for stock or securities in such corporation or another corporation which is a party to the reorganization in pursuance of the plan of reorganization.<sup>2</sup>

In order to be a treated as a "reorganization," a transaction must satisfy certain statutory requirements contained in Section 368.

Section 368(a)(1)(F) provides that a "reorganization" includes "a mere change in identity, form, or place of organization of one corporation, however effected."

Treasury Regulations Section 1.368-2(m) provides six requirements for a reorganization to qualify under Section 368(a)(1)(F):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) All of the stock of the acquiring corporation, including any stock of the acquiring corporation issued
before the reorganization, must have been distributed (or deemed distributed) in exchange for stock of the acquired corporation in the
reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The same person or persons must own all
 of the stock of the acquired corporation, immediately before the reorganization, and the
 acquiring corporation, immediately after the reorganization, in identical proportions, provided,
 however, that this requirement is not violated if one or more holders receive a distribution
 of money from the acquired corporation<sup>3</sup>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The acquiring corporation may not hold any property or have any tax attributes immediately before the
reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The acquired corporation must completely liquidate, for federal income tax purposes, in the reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The acquiring corporation must be the only acquiring corporation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The acquired corporation must be the only acquired corporation.

------

<sup>1</sup> Code § 361. Unless otherwise noted, all references to the "Code" or a "Section" of the Code are to the United States Internal Revenue Code of 1986, as amended (the "Code").

<sup>2</sup> Code § 354.

<sup>3</sup> Treas. Reg. §§ 1.368-2(m)(1)(i), 1.368-2(m)(4) Ex. 2; *See also* Rev. Rul. 96-29 ("a transaction will not fail to qualify as a reorganization under Section 368(a)(1)(F) if dissenters owning fewer than 1 percent of the outstanding shares of the corporation fail to participate in the transaction").

November 7, 2025

Under Section 356, a shareholder of the acquired corporation who receives the property other than stock or securities of the acquiring corporation must recognize gain in an amount not in excess of the sum of money and the fair market value of other property.

The Reorganization will consist of a transfer of all of the assets of the Acquired Fund, a series of a Maryland corporation, to the Acquiring Fund, a newly formed series of a Maryland corporation (each such series is treated as a separate corporation for United States federal income tax purposes pursuant to Section 851(g)), in exchange solely for (i) the assumption by the Acquiring Fund of all of the liabilities of the Acquired Fund and (ii) shares of the Acquiring Fund, which will then be distributed to the corresponding Acquired Fund Stockholders in liquidation of the Acquired Fund. While the Acquired Fund will pay cash (i) in lieu of exchanging fractional shares and (ii) to an Acquired Fund Stockholder who does not hold its Acquired Fund Shares in a brokerage account that can accept the Acquisition Shares, these types of cash payments will not cause the Reorganization to fail to qualify under the Regulations. The Acquiring Fund will be formed solely for the purpose of effectuating the Reorganization and does not hold any property or have any tax attributes immediately before the Reorganization. Therefore, the Reorganization is a mere change in identity or form of the Acquired Fund and the Reorganization will satisfy the statutory language of Section 368(a)(1)(F) and the requirements of Treasury Regulations Section 1.368-2(m) to be treated as a "reorganization" described in Section 368(a)(1)(F). Although a Reorganization may also be described in another subsection of Section 368(a)(1) (such as Section 368(a)(1)(C)), a reorganization described in Section 368(a)(1)(F) that is also described in another subsection of Section 368(a)(1) will be treated as described only in Section 368(a)(1)(F).<sup>4</sup>

A reorganization under Section 368(a)(1)(F) is not required to satisfy the "continuity of business enterprise" or "continuity of interest" requirements established by judicial doctrine and Treasury Regulations.<sup>5</sup>

Section 381(a) provides that in the case of a reorganization described under Section 368(a)(1)(F), the acquiring corporation will succeed to certain items of the acquired corporation, including capital loss carryovers. Section 381(b) provides that the taxable year of a corporation in a reorganization described in Section 368(a)(1)(F) does not close.

**IV.** **Opinions**

Based upon the foregoing and upon our review of the Code, the Treasury Regulations promulgated under the Code, published Revenue Rulings, Revenue Procedures and other published pronouncements of the IRS, the published opinions of the United States Tax Court and other Federal courts, and such other authorities as we consider relevant, each as they exist as of the date hereof, we are of the opinion that, for the United States federal income tax purposes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Acquiring Fund's acquisition of all of the assets of the Acquired Fund in exchange solely for Acquisition Shares and the Acquiring Fund's assumption of all of the liabilities of the Acquired Fund, followed by the Acquired Fund's distribution of the Acquisition

------

<sup>4</sup> Treas. Reg. § 1.368-2(m)(3)(iv)(B).

<sup>5</sup> Treas. Reg. § 1.368-2(m)(2).

November 7, 2025

Shares to the Acquired Fund Stockholders actually or constructively in liquidation of the Acquired Fund, will constitute a "reorganization" described in Section 368(a)(1)(F), and both the Acquiring Fund and the Acquired Fund will be "a party to a reorganization" (within the meaning of Section 368(b)) with respect to the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Acquired Fund will not recognize any gain or loss upon the transfer of its assets to the Acquiring Fund in exchange solely for Acquisition Shares and the Acquiring Fund's assumption of the liabilities of the Acquired Fund. The Acquired Fund will not recognize any gain or loss on the subsequent distribution (whether actual or constructive) of those Acquisition Shares to the Acquired Fund Stockholders in exchange for their Acquired Fund Shares, except for gain or loss that must be recognized under the Code (A) on the transfer of "section 1256 contracts" as defined in Section 1256(b), (B) on the transfer of stock in a "passive foreign investment company" as defined in Section 1297(a), or (C) upon the transfer of an asset even if the transaction otherwise constitutes a nonrecognition transaction under the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) No gain or loss will be recognized by the Acquiring Fund as a result of the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) No gain or loss will be recognized by the Acquired Fund Stockholders upon the distribution to them by the Acquiring Fund of the Acquisition Shares in exchange for their Acquired Fund Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The aggregate tax basis of the Acquisition Shares received by each Acquired Fund Stockholder will be the same as the aggregate tax basis of the Acquired Fund Stockholder's Acquired Fund Shares immediately prior to the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The Acquiring Fund's tax basis in each asset will be the same as the corresponding Acquired Fund's tax basis therein immediately before the Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) An Acquired Fund Stockholder's holding period for the Acquisition Shares received in the Reorganization will include such Acquired Fund Stockholder's holding period for those Acquired Fund Shares exchanged therefor, provided the Acquired Fund Stockholder holds the Acquired Fund Shares as capital assets at the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) To the extent an Acquired Fund Stockholder receives cash, the Acquired Fund Stockholder will recognize capital gains in an amount not in excess of the sum of money received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) The Acquiring Fund's holding period with respect to the Acquired Fund asset will include the Acquired Fund's holding period therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) A Reorganization will not result in the termination of the Acquired Fund's taxable year and the Acquiring Fund will succeed to and take into account the items of the Acquired Fund, if any, described under Section 381(c), subject to the conditions and limitations specified in Sections 381, 382, 383 and 384 and the Treasury Regulations thereunder.

November 7, 2025

Because our opinion is based upon current law, no assurance can be given that existing United States federal income tax laws will not be changed by future legislative or administrative or judicial interpretation, any of which could affect the opinion expressed above. This opinion is provided to you in connection with the Reorganization. This opinion may not be quoted or relied upon by any other person or entity, or for any other purpose, without our prior written consent.

&nbsp;&nbsp; <br> Very truly yours,<br>/s/ Seward & Kissel LLP<br>