Assured Life Association Formerly Woodmen of the World

“Summary of 2016 amendments to society bylaws. This past year, proposed amendments to the society's bylaws were presented to all benefit members as required in the bylaws. Voting was done online, with a total of 426 benefit member votes validated. In accordance with colorado statutes, assured life association is required to furnish the amendments or a synopsis of the amendments made to the articles of incorporation and bylaws of the society to all benefit members. Such a synopsis is considered delivered if published in this, our official publication. A final copy of the articles of incorporation and bylaws as adopted by the benefit members on november 1, 2016 is available upon request or you can find them on our website under "about us". A summary of changes to the articles and bylaws are as follows: 1. On the title page of the articles and bylaws the company name was deleted and the date of the amendments added. 2. Throughout the articles and bylaws, the term "camp/lodge" was changed to "chapter". 3. Section 1 - membership - paragraph a) - benefit members - language was added giving the board authority to set membership dues. 4. Section 2 - camps/lodges - paragraph a) - organization of camps/lodges - language was added allowing chapters to use the term "camp- or "lodge" instead of chapter if currently stated in its bylaws or used in its name. 5. Section 5 - board of directors - paragraph a) - composition of board - the start and end date for board terms was added, term limits for directors was deleted, the age limit of 75 for directors was added, and the word "recommended" was changed to "nominated" by the nominating committee. 6. Section 5 - board of directors - paragraph b) - installation of directors - the installation of newly elected directors is to be held at the first regular or special meeting of the board in the year immediately following their election. 7. Section 5 - board of directors - paragraph d) - powers and duties of the board - the requirement of benefit members voting on a merger of the society when the society is not the surviving entity was eliminated. 8. Section 5 - board of directors - paragraph d) - powers and duties of the board - the establishment of a fraternal benefit fund was eliminated. 9. Section 5 - board of directors - paragraph e) - meetings of the board - the president is eligible to call a special meeting of the board, the restriction of the special meeting being limited to the purpose of the meeting when called was eliminated, and the notice requirement was changed from five to two business days. 10. Section 5 - board of directors - paragraph e) - meetings of the board - an organizational meeting should be held at a special meeting of the board if it is the first meeting of the board after their election. 11. Section 5 - board of directors - paragraph f) - committees of the board - the establishment of an audit committee was added to the bylaws. 12. Section 5 - board of directors - paragraph j) - replacement of board members - the board term for a replacement board member was clarified. 13. Section 7 -committee on legislation - the number of benefit members required for the committee on legislation was changed from five to three and "officers" were added to those who can submit recommendations. 14. Section 8 - nominating committee - the number of benefit members required for the nominating committee was changed from five to three, the start date of the four-year term was clarified, and the deadline for benefit members interested in the position of director to submit references and a resume of their qualifications to the nominating committee was changed to march 31st of the board election year from january 31st. 15. Section 8 - nominating committee - language was added requiring the nominating committee to make a recommendation to the benefit members of one candidate for each open position from all qualified candidates. 16. Section 8 - nominating committee - language was added directing the”

“The organization has benefit members, associate members, junior members, and social members.”

“The benefit members have the right to vote in the corporate and business matters of the society, but are entitled to only one vote. The benefit members of the society inforce at the time of election shall, by referendum, elect seven persons, in staggered, four-year terms, to serve as directors.”

“The board shall not have the authority to dissolve the society or distribute assets of the society (except to the extent necessary to accomplish a merger or consolidation approved in accordance with these bylaws) nor shall the board have the authority to repeal or amend any of these bylaws or the articles. These rights and privileges shall be retained by the benefit members of the society, a proposal for which shall be presented for a vote by the benefit members by referendum. (section 5.d. Of the bylaws)”

“The tax return will not be reviewed by the board of directors before it is filed.”

“The policy is distributed annually for review and acknowledgement/disclosure.”

“The board determines the compensation of the president using compensation data.”

“The president determines the compensation of all other employees using compensation data.”

“The governing documents are available on the website; all other documents are made available to the public upon request.”

“Commissions 4,652,432 0 0 other professional fees 214,423 0 0 total 4,866,855 0 0”

“Change in non-admitted assets 10,258 change in asset valuation reserve (avr) -337,576 total -327,318”