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<title>Blue Chip Value Fund Inc. Form 8-K</title>


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<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 14.0pt">UNITED STATES</font></b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 14.0pt">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b>Washington, D.C.
20549</b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>______________________</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 16.0pt">FORM 8-K</font></b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 13.0pt">CURRENT REPORT</font></b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b>Pursuant to
Section 13 or 15(d) of the<br>
Securities Exchange Act of 1934</b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 11.0pt">Date of Report (date of earliest event reported):&nbsp;
September 1, 201</font>0</b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b>&nbsp;</b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 16.0pt">BLUE CHIP VALUE FUND, INC.</font></b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 11.0pt">(Exact name of Registrant as specified in its charter)</font></p>

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<b><font style="font-size: 11.0pt">Maryland&nbsp;&nbsp;</font></b></p>

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		811-5003</font></b></td>
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		84-1055593</font></b></td>
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		<td width="34%" align="center"><font style="font-size: 10.0pt">&nbsp;(Commission
		File Number)</font></td>
		<td width="33%" align="center"><font style="font-size: 10.0pt">(I.R.S. Employer Identification No.)</font></td>
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text-align:center'><b><font style="font-size: 11.0pt">1225 Seventeenth Street</font></b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 11.0pt">26<sup>th</sup> Floor, Denver CO&nbsp; 80202</font></b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 11.0pt">(Address of principal executive offices and zip code)</font></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 11.0pt">&nbsp;</font></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 11.0pt">Registrant&#146;s telephone number, including area code:&nbsp; <b>1-800-624-4190</b></font></p>

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<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b><font style="font-size: 11.0pt">Not Applicable</font></b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><font style="font-size: 11.0pt">(Former name or former address, if changed since last
report)</font></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'><font style="font-size: 11.0pt">Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):</font></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'><font face="Wingdings">&#168;</font><font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)</font></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'><font face="Wingdings">&#168;</font><font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240. 14a-12)</font></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'><font face="Wingdings">&#168;</font><font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'><font face="Wingdings">&#168;</font><font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>

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<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'><b>Section 5 &#150; Corporate Governance and Management</b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'><b>Item 5.03 Amendments to Articles of Incorporation or
Bylaws; Change in Fiscal Year.</b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>On September 1, 2010 the Board of Directors of Blue Chip
Value Fund, Inc. (the &#147;Fund&#148;) approved and adopted Amended and Restated By-Laws
of the Fund. The Amended and Restated By-Laws were effective on or before September
7,
2010. The Amended and Restated By-Laws clarifies and sets forth processes, procedures
and requirements relating to calling, conducting and holding stockholder meetings,
adjusts the
content and procedures for transmitting notices of meetings, the timing of and information that stockholders of the Fund must
provide when proposing director nominations or other business to be considered
at stockholders meetings, certain quorum and voting requirements
and Board term, size and vacancy requirements, including reflecting the Fund's election to be subject to
Section 3-804(b) and (c) and Section 3-805 of the Maryland General Corporation
Law.&nbsp; </p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>On September 1, 2010, the Board of Directors approved the
filing of Articles Supplementary to reflect the above-referenced election to be
subject to Section 3-804(b) and (c) and Section 3-805 of the Maryland General
Corporation Law. The Articles were filed on September 7, 2010.
</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>The preceding description does not purport to be complete
and is qualified in its entirety by reference to the full text of the Amended
and Restated By-Laws, which is attached hereto as Exhibit 3.1, and the Articles
Supplementary, which is attached hereto as Exhibit 3.2, and both are
incorporated herein by reference.</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'><b>Section 9 &#150; Financial Statements and Exhibits</b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'><b>Item 9.01.&nbsp; Financial Statements and Exhibits.</b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-left:.5in;text-indent:-.5in'>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amended
and Restated By-Laws of Blue Chip Value Fund, Inc. dated September 1, 2010.</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-left:.5in;text-indent:-.5in'>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Articles
Supplementary of Blue Chip Value Fund, Inc. dated September 1, 2010.</p>
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<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:center'><b>SIGNATURES</b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>Pursuant to the requirements of the Securities Exchange
Act of 1934, as amended, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.</p>
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<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:12.0pt;font-family:"Times New Roman";'>
BLUE CHIP VALUE FUND, INC.</p>

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		<td width="50%">Date:&nbsp; September 3, 2010</td>
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<u>By:&nbsp;&nbsp;&nbsp; /s/ &nbsp;Todger
Anderson&nbsp;&nbsp;&nbsp; </u></p>

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Anderson</p>

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text-align:center'><b>EXHIBIT INDEX</b></p>

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text-align:center'><b>&nbsp;</b></p>

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 style='border-collapse:collapse' width="100%">
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  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:
  .0001pt;text-align:center'><b><font style="font-size: 10.0pt">Exhibit No.</font></b></p>
  </td>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:
  .0001pt;text-align:left'><b><font style="font-size: 10.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Description</font></b></p>
  </td>
 </tr>
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  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
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  &nbsp;
  </td>
 </tr>
 <tr>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:
  .0001pt;text-align:center'>3.1</p>
  </td>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt'>Amended
  and Restated By-Laws of Blue Chip Value Fund, dated September 1, 2010.</p>
  </td>
 </tr>
 <tr>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:
  .0001pt;text-align:center'>&nbsp;</p>
  </td>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:
  .0001pt;text-align:center'>3.2</p>
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  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt'>Articles
  Supplementary of Blue Chip Value Fund, Inc. dated September 1, 2010.</p>
  </td>
 </tr>
</table>

<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt'>&nbsp;</p>

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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

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[{"type": "8-K", "sequence": "1", "filename": "esbluechip8k.htm", "secsgml_size_bytes": 25685}]
{"company-data": {"conformed-name": "BLUE CHIP VALUE FUND INC", "cik": "0000810439", "irs-number": "841055593", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "811-05003", "film-number": "101060056"}, "business-address": {"street1": "1225 17TH STREET 26TH FLOOR", "city": "DENVER", "state": "CO", "zip": "80202", "phone": "3036232577"}, "mail-address": {"street1": "1225 17TH STREET 26TH FLOOR", "city": "DENVER", "state": "CO", "zip": "80202"}}
Blue Chip Value Fund Inc. Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
______________________
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): 
September 1, 201
0
BLUE CHIP VALUE FUND, INC.
(Exact name of Registrant as specified in its charter)
Maryland
811-5003
84-1055593
(State or other jurisdiction of incorporation)
(Commission
		File Number)
(I.R.S. Employer Identification No.)
1225 Seventeenth Street
26
th
Floor, Denver CO  80202
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code:
1-800-624-4190
Not Applicable
(Former name or former address, if changed since last
report)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
¨
Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240. 14a-12)
¨
Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 5 – Corporate Governance and Management
Item 5.03 Amendments to Articles of Incorporation or
Bylaws; Change in Fiscal Year.
On September 1, 2010 the Board of Directors of Blue Chip
Value Fund, Inc. (the "Fund") approved and adopted Amended and Restated By-Laws
of the Fund. The Amended and Restated By-Laws were effective on or before September
7,
2010. The Amended and Restated By-Laws clarifies and sets forth processes, procedures
and requirements relating to calling, conducting and holding stockholder meetings,
adjusts the
content and procedures for transmitting notices of meetings, the timing of and information that stockholders of the Fund must
provide when proposing director nominations or other business to be considered
at stockholders meetings, certain quorum and voting requirements
and Board term, size and vacancy requirements, including reflecting the Fund's election to be subject to
Section 3-804(b) and (c) and Section 3-805 of the Maryland General Corporation
Law.
On September 1, 2010, the Board of Directors approved the
filing of Articles Supplementary to reflect the above-referenced election to be
subject to Section 3-804(b) and (c) and Section 3-805 of the Maryland General
Corporation Law. The Articles were filed on September 7, 2010.
The preceding description does not purport to be complete
and is qualified in its entirety by reference to the full text of the Amended
and Restated By-Laws, which is attached hereto as Exhibit 3.1, and the Articles
Supplementary, which is attached hereto as Exhibit 3.2, and both are
incorporated herein by reference.
Section 9 – Financial Statements and Exhibits
Item 9.01.  Financial Statements and Exhibits.
(d)        Exhibits
3.1       Amended
and Restated By-Laws of Blue Chip Value Fund, Inc. dated September 1, 2010.
3.2       Articles
Supplementary of Blue Chip Value Fund, Inc. dated September 1, 2010.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, as amended, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
BLUE CHIP VALUE FUND, INC.
Date:  September 3, 2010
By:    /s/  Todger
Anderson
Todger
Anderson
President
- 3 -
EXHIBIT INDEX
Exhibit No.
Description
3.1
Amended
  and Restated By-Laws of Blue Chip Value Fund, dated September 1, 2010.
3.2
Articles
  Supplementary of Blue Chip Value Fund, Inc. dated September 1, 2010.
- 4 -