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Resolution: State Corporation's Dividend Policy

RESOLVED, that it is this Corporation's dividend policy to pay a dividend of _______________ dollars ($_______________) per annum on the common stock of the Corporation, payable in quarterly installments on the first day of March, March, March and March, if (1) the earnings of the Corporation support such payments under the laws of the state of _______________, and (2) it is determined that the payment of such dividends is in the best interests of the Corporation.

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