December 1, 2017
The Board of Directors met for its regular meeting on Friday, December 1, 2017 in Denver, Colorado. All directors were present for the meeting as well as the society officers.
Actions of the Board included:
- Received and accepted reports from the Executive and Audit Committees.
- Accepted resignation of Board Member, Rodney Kellenberger.
- Adopted annual resolutions regarding Provisions for Refunds payable, Annual Renewal Term and Five-Year Term premium scales as well as the cost of insurance rates for Universal Life certificates.
- Ratified request by Directors to waive board compensation.
- Approved to donate the amount equal to unpaid director compensation for the 2017 calendar year to the Society’s Scholarship Fund on behalf and in the name of the directors waiving receipt of board compensation.
- Approved a discretionary non-elective contribution to the Assured Life Association Qualified Savings and Retirement Plan for employees.
- Ratified the investment transactions for the third quarter of 2017.
- Approved Other Than Temporarily Impaired (OTTI) Policy.
- Approved 2018 operating and capital budgets.
- Approved Interest Crediting Rates.
- Reviewed and discussed September 30, 2017 financial reports for the society including the Quarterly Statutory Statement for the period ending September 30, 2017.
- Reviewed the Board meeting schedule for 2017 and beyond.
- Received and discussed reports from society officers.
- Received annual certification of Code of Ethics and Business Conduct Policy.
- Received report on Cyber Security.
- Reviewed Corporate Governance requirements.
- Approved Directors Criteria and Qualifications.