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Resolution: Approve Employee Loan Program

WHEREAS, the Board of Directors deems it advisable to institute a loan program for purposes of advancing loans to employees of the Corporation who will use said loan proceeds for purposes of advancing their own education or the education of their children; and

WHEREAS, the Board wishes to adopt a specific policy for said loan program benefit; be it

RESOLVED, that the Corporation adopt an Educational Loan Plan in accordance with the specification for said program as presented to the Board and annexed hereto, and, it is

RESOLVED FURTHER, that the President and/or Treasurer of the Corporation take all action necessary to implement and administer said plan.

The undersigned hereby certifies that he/she is the duly elected and qualified Secretary and the custodian of the books and records and seal of _______________, a corporation duly formed pursuant to the laws of the state of _______________, and that the foregoing is a true record of a resolution duly adopted at a meeting of the _______________ and that said meeting was held in accordance with state law and the Bylaws of the above-named Corporation on _______________, and that said resolution is now in full force and effect without modification or rescission.

IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the above-named Corporation this ___________ of __________, 20 __.

A TRUE RECORD.

ATTEST.

Secretary