Trust Examiner School eBook

remained stable month over month, and that the company has not had to rely on its Line of Credit in 2022. A motion was moved and seconded to accept the financial reports. The motion passed unanimously.

Review of the dividend calculation reflects that no dividends are declared for this quarter.

Mr. Smith presented the following resolutions:  Appointment of Officers,  Trading Authorization,

 Three-year Strategic Plan and  Trust Company Policies Manual.

Old Business: Update on pending lawsuit: The trust company is named as a defendant in the lawsuit filed by the remainder beneficiaries for the Milky Way Family Trust. Attorney Luck Guy will be available at the next schedule Board meeting and will provide a detailed update; however, during a recent discussion he revealed that he plans to make a motion to dismiss. New Business: Liability bond coverage with ABC Insurance Companies is scheduled to expire at year-end 2022 and we have asked management to review whether coverage is appropriate given the pending litigation and provide an update at the next schedule Board meeting.

Mr. Smith announced that the next regular Board of Directors meeting will be held XXXX XX, 2022, at 9:30 am in the Trust Company Boardroom.

The meeting was adjourned at 10:15 am.

For Training Purposes Only