Acts Retirement Services Inc.

“The executive committee has the authority to transact such business as shall be necessary for the administration and operation of the corporation between board of directors meetings subject to certain limits specified in the bylaws.”

“After review by the acts' cfo, the form 990 is reviewed, before filing, by the acts board of directors' audit committee, which includes two certified public accountants. The form 990 is then provided to the other members of the acts retirement services, inc. Governing body before filing.”

“A conflict of interest questionnaire is completed on an annual basis by the organization's officers, directors and trustees. The officers and directors report on any family or business relationships with any board member, officer or key employee of the organization and its affiliates. If any family or business relationships are disclosed, they are reported on schedule l as appropriate. In addition, the responses are reviewed by the president & ceo and chairman of the board of directors to determine if conflicts are present and if so, the extent of the conflict. For conflicts that arise, the officer, director or trustee must recuse themselves from participating in deliberations and decisions that involve the determined conflict.”

“It has been the practice of the management company, acts management services, inc., to engage an independent compensation consultant on an approximately biennial basis for the purpose of reviewing the compensation program for the organization's top management positions.”

“The organization's governing documents and conflict of interest policies are filed with numerous regulatory authorities and therefore, are available to the public. In addition, upon receipt of a request and its review, the organization will make available such documents, as deemed appropriate. The acts retirement services, inc. And subsidiaries consolidated audited financial statements are made available to the public.”

“Other compensation includes accruals for a deferred supplemental executive retirement plan for karen i. Christiansen (non-vested) and gerald t. Grant (non-vested).”

“The organization's annual financial statements are audited on a consolidated basis and the organization has an audit committee consisting of board members only that exercises responsibility for the oversight of the audit.”