Connecticut Foundation Solutions Indemnity Company Inc.

“Delegate broad authority to a committee the executive committee has three voting members, all of which are voting directors of the organization. The executive committee may act on behalf of the board of directors between regular meetings of the board of directors and where the executive committee determines that it is impractical to either convene a special meeting of the board of directors to take certain action or to solicit action via unanimous written consent of the directors any action taken by the executive committee on behalf of the board of directors shall be presented to the board of directors for ratification at their next meeting and entered in the minutes of that meeting. The executive committee may also exercise those aspects of the authority of the board of directors that the board of directors confers upon such committee by resolution. However, the executive committee may not perform the following actions: (1) authorize distributions; (2) approve dissolution, merger or the sale, pledge or transfer of all or substantially all of the corporation's assets; (3) elect, appoint or remove directors or fill vacancies on the board of directors or on any of its committees; or (4) adopt, amend or repeal the certificate of incorporation or these bylaws.”

“Delegation of management duties michael maglaras & company, an insurance & risk management consulting company, performs management duties for the organization. The organization's top management official, michael maglaras, is superintendent of the organization, and is 100% owner of the management company. Marsh provides specialized captive management services to the organization. Michelle ambrose, assistant secretary of the organization, is an account executive at marsh.”

“Classes of members or stockholders the organization has one class of member. The organization's sole member was john r. Foehl, esq., who serves as trustee of the crumbling foundations assistance trust u/t/a dated june 26, 2018, and each successor trustee of such trust. At the annual meeting, the member shall vote for directors and address other business that may come before the member during the meeting. The sole member shall have the only vote with respect to matters that come before the member.”

“Members or stockholders electing members of governing body the organization has one class of member. The organization's sole member has the power to elect the members of the governing body.”

“Decisions requiring approval by members or stockholders the organization has one class of member. The following actions cannot take place without the prior approval of the member: (a) the sale, pledge, or other disposition of all or substantially all of the corporation's assets; (b) a substantial change in the purpose or business of the corporation; (c) the merger, consolidation, reorganization, redomestication, dissolution or liquidation of the corporation; and (d) any amendment to the certificate of incorporation or these bylaws of the corporation. The sole member has the only vote with respect to matters that come before the member.”

“Review of form 990 by governing body the form 990 is completed by an external accounting firm and signed by an officer of the organization. The full board does not review prior to filing.”

“Any director, principal officer, or member of a committee with governing board delegated powers is covered under the policy. Each directors, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a. Has received a copy of this conflict of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists.”

“The organization did not make available its governing documents, conflict of interest policy, and financial statements to the public during the tax year.”

“Net deposit liability adjustments 1,041,720.”