CPCU BOARD MEETING NOTES
TREASURER
January 10, 2003

Financials Distributed through January 9, 2002

· Tax Reports have been filed with the Internal Revenue Service. They were filed December 26, 2002 after the filing of an extension before the due date of November 15, 2002. This is the final filing as the old non-profit unincorporated organization.

· We have received a letter from Julie Kadnar, CPA, CPCU after a review of the Chapter record states they are in excellent condition and that proper controls are in place.

Motion to ratify the incorporation of Chapter.

This motion is made to again formalize the Boards ratification of the Cincinnati Chapter CPCU Board of the Incorporation of the Chapter. It is recognized that the Cincinnati Chapter is now known as Cincinnati Chapter Society of Chartered Property Casualty Underwriters, Inc. It is further ratified that the Chapter is operating as an Ohio Incorporated, non-profit organization as of the fiscal year July 1, 2002 to June 30, 2003.

Motion authorizing the Treasurer to file fees of $500.00 with IRS Form 8718 and Form 1024 Application for Recognition of Exemption under Section 501, ( c ) (6) Business Leagues, chambers of commerce etc. with the Internal Revenue Service on behalf of the Chapter.

Motion to authorize the Treasure to transfer the accounts of the Cincinnati Chapter from the old non-profit to the Incorporated Non Profit organization on the records of Victory Funds, c/o McDonald Investments, Fidelity Investments, for the Scholarship funds and US Bank for the checking account.

Renewal of the Contract with the CIB
Motion to extend the service contract with the Cincinnati Insurance Board effective January 1, 2003. All conditions and fees continue as previously contracted. Service Rate of $275 per month plus reimbursement of those expenses incurred or advanced on behalf of the Chapter.

Lunch with the CIB Staff is scheduled for Wed January 15 at J Alexander's in Rookwood Mall at 11:30AM

Review Issue of Dissolution B. L. Nachtrab

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