HomeMy WebLinkAbout2001-10-25 - Agendas - FinalFAYETTEVILLE
•
THE CITY OF FAYETTEVILLE, ARKANSAS
FIRE PENSION AND RELIEF FUND
AGENDA
OCTOBER 25, 2001
A meeting of the Fire Pension and Relief Fund Board will be held on October 25, 2001 at 11:00 a.m.
in Room 326 of the City Administration Building located at 113 West Mountain.
1. Approval of the minutes
2. Approval of the pension list
3. Investment report
4. Other business
113 WEST MOUNTAIN 72701 501 521-7700
FAX 501 575-8257
•
MINUTES OF A MEETING
OF THE
FIRE PENSION AND RELIEF FUND BOARD
SEPTEMBER 27, 2001
A meeting of the Fayetteville Fire Pension and Relief Fund Board was held on September 27, 2001
at 11:00 a.m. in Room 326 of the City Administration Building located at 113 West Mountain Street,
Fayetteville, Arkansas.
PRESENT: Ron Wood, Danny Farrar, Marion Doss, City Clerk Heather Woodruff, City Attorney
Kit Williams, and Richard Yada.
MINUTES
Mr. Farrar moved to approve the minutes. Mr. Wood seconded.` The motion carried unanimously.
PENSION LIST
Mr. Farrar moved to approve the pension list. Mr. Wood seconded. The motion carried
unanimously.
INVESTMENT REPORT •
Mr. Yada stated the market had been going down a little in August, but they were still staying within
range. They were at $11,376,000 at the end of August. After $448,000 being sent back to the
checking account. They knew markets were going to go up and down. They could see the
performances the portfolio mangers had in 1997, 1998 and 1999. They had been struggling this year
and last year. That was the growth manager. Their fixed income was the only thing that was up.
It was up over 9.5%the others were down an average of 15-16%. Half of their assets were in income
accounts. Half of it was up and the other half was down. They had planned it that way. The Private
Portfolio Group at 2.2 million was down 14%. Mercury Group at 1.6 million was down 18%.
Ashland at 2 million was down 17%. The Income Account at 5.4 million was up 9.5%. That was
compared to Dow Jones, which was down 6%. The S&P Index was down 13.5%. Nasdq was down
26%. The S&P Index was a broader market performance. They look at the S&P being the guide,
they were down 13%. Their stock guys were down 16%. They were under preforming in that group.
The Feds had dropped interest rates. The economy was going to have to pick up. He did not expect
the market to do anything. In their Fixed Income Account as interest rates dropped, their value would
go up.
INCREASE IN VOLUNTEER PAY
Mr. Doss suggested since they were short a few members that they postpone this discussion.
Mr. Wood asked if there was any way they could poll the people on the pension list. He had talked
with a lot of volunteers who wanted their increase too. But he had also talked with a a lot of full -
paid people that did not want to do that.
•
•
Mr. Williams stated there was a possibility that there was going to be another millage rollback. He
did not believe it would affect them, but there was some chance. He did not believe there would be
a reduction, but he could not totally rule it out.
Mr. Doss added there had also been concern that three or four full -paid people did not receive an
increase. They may also want to look at those people sometime.
Meeting adjoumed at 11:30 a.m.
re'
FAYETTEVILLE
'INE CITY OF FAYETTEVILLE, ARKANSAS
• KIT WILLIAMS, CITY ATTORNEY
DAVID WHITAKER, ASST. CITY ATTORNEY
DEPARTMENTAL CORRESPONDENCE
LEGAL DEPARTMENT
TO: Fayetteville Firemen's Relief and Pension Fund Trustees
FROM: Kit Williams, City Attorney
DATE• October 17, 2001
RE: Skelton appeal
Attached is a copy of Judge Smith's letter concerning the scheduling of the
Skelton case. I will only file a Reply Brief if necessary
•
KIM M. SMITH
CIRCUIT JUDGE
October 16, 2001
STATE OF ARKANSAS
FOURTH JUDICIAL CIRCUIT - SECOND D VISION
WASHINGTON COUNTY COURTHOUSE
P. O. BOX 1206
FAY61 1 LVILLE, AR 72702-1206
TELEPHONE: (501) 444-1552
FAX: (501) 444-1752
E-MAIL: ksmith@co.washington.ar.us
Mr. James N. McCord
Attorney at Law
11 N. West Avenue, Suite 202
Fayetteville, AR 72701
Mr. Kit Williams
Fayetteville City Attomey
113 W. Mountain Street, Ste. 302
Fayetteville, AR 72701
KAREN S. MORROW
OFFICIAL COURT REPORTER
E-MAIL: kmorrow@co.washingtonar.us
JOAN LESTER
CASE COORDINATOR
E-MAIL: jlester@co.washington.ar.us
• RE: Kathy D. Skelton vs. Board of Trustees of Fayetteville Firemen's Relief
and Pension Fund, Washington County No. CIV 2001-544
Dear Attorneys:
On October 16th, 2001, Mr. Williams and I tried to call Mr. McCord to discuss a
briefing schedule in the above captioned case. Mr. McCord's answering machine
indicated he was out for several weeks due to illness. Hopefully the illness is not
severe enough to prevent Mr. McCord from preparing his bnef in this matter Due
to his illness, I am going to establish a cut-off date for Mr. McCord's brief of
November 9th, 2001. Mr Williams will then have until November 16th, 2001 to file
a reply brief. After that date I intend to rule from the file.
If Mr. McCord's illness will prevent him from preparing his brief in this matter,
please call me and we will call Mr. Williams and discuss the matter.
Sincerely,
M. Smith
C cult Judge
xc; court file
i h
FAYETTEVILLE
THE CITY OF FAYETTEVILLE, ARKANSAS
•KIT WILLIAMS, CITY ATTORNEY
DAVID WHITAKER, ASST. CITY ATTORNEY
DEPARTMENTAL CORRESPONDENCE
LEGAL DEPARTMENT
TO: Fayetteville Firemen's Relief and Pension Fund Trustees
FROM: Kit Williams, City Attorney
DATE: October 2, 2001
RE: Request For Pension Benefits by Kathy D. Skelton
Attached are the Stipulated Facts agreed to by and Jim McCord
irepresenting Kathy D. Skelton and myself representing you. Also
attached is my Brief presenting your side of this issue. Just as my
initial memo to you, my Brief argues that only a spouse, as opposed to
an ex-spouse, can receive pension benefits. Therefore, Roy Skelton's
survivor pension benefits should be paid only to his eligible children
I do want to call to your attention to subsection (f) in A.C.A. 24-
11-820.
•
'If a retirant and, if any, his eligible beneficiary
both die before they have received in annuity
payments a total amount equal to the accumulated
contributions, including any interest credits,
standing to the retirant's credit in the system at the
r
time of his retirement, the difference between the
accumulated contributions and the total amount of
annuities received by them shall be paid to such
person or persons as the retirant shall have nominated
by written designation duly executed and filed with the
board."
I do not know whether your members accumulate contributions
"standing to the retirant s credit in the system at the time of his
retirement .... If contributions to Roy's credit have been accumulated,
once the final payment is made to his last eligible child, you would
need to examine the record to ensure that all accumulated
contributions have been in fact paid to Roy or his eligible beneficiaries.
If not, a payment of the difference (the amount remaining) would have
to be made to Kathy Skelton pursuant to their Divorce Decree and
Qualified Domestic Relations Order.
•
•
•
IN THE CIRCUIT COURT OF WASHINGTON COUNTY
KATHY D. SKELTON
vs. No. CIV 2001 544
BOARD OF TRUSTEES OF
FAYETTEVILLE FIREMEN'S
RELIEF AND PENSION FUND
BRIEF OF THE DEFENDANT
BOARD OF TRUSTEES OF FAYETTEVILLE
FIREMEN''S RELIEF AND PENSION FUND
APPELLANT 0 -n
n
S0
m 1
�
C%
v y 0
APPELLE� c. ca 2-3
Na 0
2 c�D
This case is presented to this Court by means of the Stipulated Facts filed
for record on September 28, 2001. It is agreed that this Court has proper
jurisdiction to decide this controversy.
As the facts stipulate, Roy Allen Skelton was married to Kathy Diane
Skelton during a portion of the time when he was employed as a firefighter for
the City of Fayetteville. This marriage terminated in divorce granted by the
Chancery Court of Washington County about September 9,1998 in case E 98-804.
A Qualified Domestic Relations Order (QDRO) was filed on or about October 14,
1998, in that case.
The Qualified Domestic Relations Order (QDRO) filed in E 98-804 is
admitted by stipulation for this Court's consideration. There are two very
important sections within this Order. First, paragraph 6 states that
•
"Commencing with the retirement check payable for the month of October, 1998,
and each month thereafter, so long as Roy A. Skelton might be entitled to
receive said benefit, Kathy D. Skelton is entitled to receive 33.035 percent of Roy
A. Skelton's regular retirement pay ...." (emphasis added)
A.C.A. §24-11-820 gives the legal requirements for pension benefits after
the death of the firefighter. Retirement pay obviously ceases upon the death of
the firefighter, and A.C.A. §24-11-820 then determines who would then be
eligible for survivor benefits. Since Roy A. Skelton's "regular retirement pay"
ceased at his death, so also did Kathy D. Skelton's entitlement "to receive 33.035
percent of Roy A. Skelton's regular retirement pay .... "
A second important part of the Chancellor's Order is the "IT IS FURTHER
ORDERED" section on the top of page 3 of the QDRO.
"IT IS FURTHER ORDERED this QDRO does not
require the City of Fayetteville or the Fireman
Relief and Pension Fund to provide any type or
form of benefit to Roy A. Skelton or Kathy D. Skelton
which is not otherwise provided pursuant to the
retirement plan."
The Fireman Relief and Pension Fund is governed by the State law that
created it. This law is crystal clear concerning who can be a beneficiary when a
retired firefighter dies.
•
•
"Whenever ... any retired member shall die,
leaving a spouse ... a monthly pension ..
shall be paid for life to the spouse ... "
A.0 A. §24-11-820(a)(1) (emphasis added).
Since the marriage between Roy and Kathy Skelton ended in September,
1998, Roy Skelton did not have a spouse when he died in 2001. Therefore, she
could not be a surviving spouse eligible to receive pension benefits pursuant to
A.C.A. §24-11-820.
The statute specifically contemplates there may be "no eligible spouse at
the time of the member's death" and directs that if there is no eligible spouse
"the total sums shall be paid to his children until they shall have reached
nineteen (19) years of age ...." A.C.A. §24-11-820(b)(2)(A).
"However, if a child enrolls in an institution of
higher education after completing high school,
the payments shall continue as long as the child
is a full-time student, but in no instance beyond
the child's twenty-third birthday."
A.C.A. §24-11-820(b)(2)(B).
The statute is carefully drawn to provide pension benefits only to an
"eligible spouse" or the member's minor children. Marital status is thus vital
when considering whether someone is eligible to receive a deceased firefighter's
pension benefits. Indeed, if an eligible "spouse or child shall marry, then the
person so marrying shall thereafter receive no further pension ...." A.C.A. §24-
11-820(b)(4).
•
Kathy Skelton was clearly not the spouse of Roy Skelton at the time of his
death. A "spouse' is defined by Black's Law Dictionary as "One's husband or
wife by lawful marriage; a married person." The divorce between the Skeltons
terminated Kathy's status as a married person so she cannot now be termed a
spouse.
The American Heritage Dictionary of the English Language (Fourth
Edition 2000) defines "spouse" as "A marriage partner, a husband or wife."
Merriam -Webster Collegiate Dictionary defines "spouse" as
"married person".
The Ultra lingua English Language Dictionary defines "spouse" as "A
person's partner in marriage" and defines "ex-spouse" as "A person who was
formerly a spouse." Thus under every common definition of "spouse", Kathy D.
Skelton ceased from being the spouse of Roy A. Skelton when their divorce was
granted in 1998. Kathy then became the "ex-spouse" of Roy and not entitled to
pension benefits under A.C.A. §24-11-820.
It is also very clear under old and unchallenged law that divorce makes
spouses "strangers in law, third parties" McWilliams v. Kinney, 180 Ark. 836, 22
S.W. 2d 1003, 1004 (1930).
4
•
•
•
"The dissolution of the bonds of matrimony creates a
new relationship between the parties. Whereas they
were husband and wife, with all the privileges,
immunities, and burdens imposed by law because of
this relationship, they are now strangers in law, third
parties as it were, with no legal obligations each to the
other except those preserved by decree or contract." Id.
The Arkansas Supreme Court has strictly followed statutory schemes
when determining whether someone was entitled to receive "widow's" benefits
in a Worker's Compensation case. Although it was undisputed a woman was
married to an employee who was killed on the job, the lack of evidence of her
dependency on the employee resulted in a finding that she was not the
employee's "widow" for purposes of that act. Spratlin v. Evans, 260 Ark. 49, 538
S.W. 2d 527 (1976).
In Biddle v. Biddle, 206 Ark. 623,177 S.W. 2d 32, 36 (1914), the Arkansas
Supreme Court quotes approvingly from 17 American Jurisprudence (Divorce):
"On divorce the wife ceases to be a member of the family to the same extent as if
she were dead ...."
The Board of Trustees of the Fayetteville Firemen's Relief and Pension
Fund owe a fiduciary duty to all current and future retirees and pensioners to
faithfully follow the law concerning who is entitled to receive retirement or
survivor pension benefits. Because Kathy D. Skelton divorced Roy Skelton in
1998 and thereafter was not his spouse, but his ex-spouse, the Board believes and
ruled that after Roy Skelton s death in 2001, his monthly pension benefits must
be paid to his two eligible children rather than being split between his ex-spouse
and these eligible children.
The Board prays that this Court affirm the Pension Board's decision to pay
the pension benefits only to the children of Roy Skelton, rather than reducing the
children's share by paying the majority of the benefits to plaintiff Kathy D.
Skelton.
BY:
Respectfully submitted,
WILLIAMS, ABA #76007
Fayetteville City Attorney
Attorney for Board of Trustees
of Fayetteville Firemen's Relief
and Pension Fund
113 W. Mountain St., Ste. 302
Fayetteville, AR 72701
Phone: (501) 575-8313
FAX: (501) 575-8315
CERTIFICATE OF SERVICE
I, Kit Williams, do swear that I have sent by U.S. mail, postage prepaid,
the following Brief of the Board of Trustees of Fayetteville Firemen's Relief and
Pension Fund, to Honorable James N. McCord, Attorney at Law, 11 N. West
Avenue, Suite 202, Fayetteville, AR 72701, on this the 2nd day of October, 2001
6
•
•
�PRnE11/yo
��
`% LIBERTY MARKETING COMPANY
-
....` ` `- • Serving Chambers, City & County Governments
-' • +nit H.A. Fuller -Sutherland, CEO
AHuhA Aa
DISTRIBUTION AGREEMENT
. 204 N. West Street
Arlington, Texas 76011
(817) 860-3110 - Fax (817) 860.7113
(800) 954 -MAPS
To establish the number of the new 2001 Washington County maps, we will be printing, to satisfy thc
FREE DISTRIBUTION need for this publication, we would appreciate you completing this agreement and
mailing it to us in the self addressed / stamped envelope provided or faxing this request back to us, our fax
# is (800) 478-2543. These are the 3foot x 2foot maps that are red, white and blue and are printed on a 601b
glossy paper.
We would appreciate your cooperation in completing this agreement, most particularly the space dealing
with the number of maps you normally give away over a 12 month period for each publication. This
infortnation will help us establish the overall need for maps in the areas, however, more importantly;. it
will help us plan for future publications.
YES!
We would like to receive a good supply of FREE LIBERTY MARKETING maps for our own distribution, AT NO COST
OR CHARGE. We understand these maps will be shipped PRE -PAID by the United States Postal Service. This is in no way
an endorsement, but we do agree to be one of the distribution points for our maps.
CITY OF FAYETTEVILLE
W ino�.,ttr,58,A1
Physical Address
,797W_th?eo cr,� /C079/
Name & Title (PRINT CLEARLY PLEASE)
FAX '113: 1-800-478-2543
P.O. BOX tt (IF APPLICABLE)
City, State, Zip
5'73 e3a3
Area Code & Phone Number
Normal Number of Maps Given = 500 Number of Maps Needed 30
FROM THE DESK OF
CHARLENE HAIRSTON, PROJECT DIRECTOR
Ed WH60:TI TIME LE 'daS
£SPE 612 CTE : '0N3NOHd 38t0 H1103H 3WOH SOJHRH : WOdd
ti
'ROUA AO P5
•
0:
47011,
LIBERTY MARKETING COMPANY
Serving. Chambers. City :& County. Governments
H.A. Fuller -Sutherland; CEO.
Facsimile Transmission
FROM:
204 N. West Street
Arlington. Texas.76011
(817) 860-3110 a Fax (817) 860-71t3
800) 954 -MAPS
ATT1J:.'
BUSINESS:PHONE:
FAX NO.:
iKQmPr
Lj
01
V✓6DGI M'k
1 �Cp y �
r0 7b qS
HEATHER LANE
SET-UP ASSISTANT
DATE: %-2` ^ 0/
NUMBER OF PAGES: 2
I.800454-6277
FAX: 1-800-478-2543
E-MAIL: libcrtym@eumait.net
PHONE:
-5(
57c-- 1313
MESSAGE: Choice of Colors on Map are RED and BLUE on WHITE GLOSSY PAPER
rm: (j
!'Ct .Q. IS ALit .Chts- bu ✓1 G.cilrQt-vtunk- +tel- k-
\ J ct*.t J k4 C . c Ak S. �1� u5c 4 eJ 4 b ayA
-��a � bu ` -amu k'skP.
`LS
/1a �.
COUNTY
t
STATE �1)�
MAP NO.
Id Wt360: T T T00Z 22 'daS
£SVZ 6T£ PTZ : 'ON 3NOHd
3dt3D H11d3H 3WOH sroug8 WOW
e
STANDING LETTER OF AUTHORIZATION AGREEMENT FOR FEDERAL FUNDS
This Agreement contains the terms and
dions goveming the Merrill Lynch
ling Letter of Authorization program.
As used in this Agreement, 'I', 'me, and
'my mean each person who signs the
Standing Letter of Authorization
confirmation letter as an accountholder or
as an authorized person on behalf of an
entity's account. 'You' and 'your° mean
Merrill Lynch, Pierce, Fenner & Smith
Incorporated.
Representations, Additional Terms, and
Amendments
I acknowledge that I have read this
Agreement and the Standing Letter of
Authorization Program Description and
agree' to its terms and conditions. -1 also --
acknowledge that this Agreement must be
signed by all persons who signed the
agreements or documents required for the
establishment of my/our Merrill Lynch
account and agree that any additional
terms and conditions contained in those
documents shall apply to my/our
participation In the Standing Letter of
Authorization program as if they were fully
set out in this Agreement
I agree that you shall have the right to
nd this agreement by modifying or
nding any of its existing provisions or
dding any new provision. Any such
amendment shall be effective as of a date
to be established by you, subject to
applicable law.
code Daae (Rev. S
•
Authorization
I authorize you to effect transfers of funds
and/or securities from my/our Merrill Lynch
account in the manner specified in the
Standing Letter of Authorization
confirmation letter to which this Agreement
relates, either 1) on a recurring basis in
such amount or quantity and upon such
schedule as I/we have instructed in such
letter, or 2) upon my or another authorized
person's telephone instruction, subject to
any limitations as I/we may have specified
in such letter. In the event that any
erroneous transfers are made, I authorize
you to initiate correcting entries in my/our
account and to act on my/our behalf to
attempt to correct such errors to such
extent -as -maybe -possible,- provided -that
any such correction is made in accordance
with applicable laws, rules or regulations. I
authorize any financial institution holding
an account of mine/ours to which I have
authorized transfers to be made to accept
correcting instructions from you without
responsibility for the correctness thereof.
Indemnification and Limitation of
Liability
I agree to indemnify and hold you harmless
from any loss, liability, cost, or expense for
acting upon my/our instructions, whether
written, verbal, or telephonic, except as
limited by applicable law.
In no event shall you be liable to me/us for
any damages, whether consequential,
direct, indirect or special, arising out of any
failure to execute any transfer in a timely
manner and in accordance with or another
authorized person's instructions except
direct damages resulting from your
negligence or bad faith. You shall not be
liable for any errors, delays or negligence
of any funds transfer or communications
systems, or any intermediary, agent bank
or subagent bank that may be used in
making transfers for my/our account, each
of wh'ch shall be deemed to be my/our
agent.
Termination of the Standing Letter of
Authorization
This authorization is to remain in full force
and effect until you receive notification -from --
me or any authorized person of its
termination. Any termination will become
effective as soon as you have had a
reasonable amount of time to act on It.
GOVERNING LAW
I UNDERSTAND AND AGREE THAT THE
TERMS AND CONDITIONS OF THIS
AGREEMENT WILL BE GOVERNED BY
NEW YORK LAW.
b
co -
CL CLL00
No co
Ccc:
- O
O
M
H
C4 0
0
• 00
CL
0.4
°°
L 0..
w 0
Q
- t
O
a
wezt
00
1-10
N
.y
h
M
N
0'
00
00
00
0•'
0'
O
,n
b
01
0'
0▪ 4
a
U
0
w
0
° a
0 Y
co,
Mreee
z
a 01 V co
▪ M N M
V)
N
M
b o0
cre
O
0
In
0
0
0
w
N
00
00
V
Income Account
M
1/40Cc
M
1/40
1/40
0'
M
'0 00
M V1
c-- r --
en et
N N
O
1/40
1/46
O
r
hco
a coo
o o
a
i in
O
O
O+
ON
M
N
rl
00 in cci
N
+ 7 0;
00
00
M
M len
+
N
01/4
M
00
N
N
N
00
+
T
1/46
Cep
0<
O
N Vh
O
7 W °<
+
O t/l CO
0: 00
+
00
MI co
+ +
00
M
+
0
N
en
en
o CO
O
+
00
N
+
—d Os—
v)
on a .aa
en en en
N N [- '9
O c
t t G .
O O O G
✓ U U *
c A A*
111) W 00
C
1 Y Y
✓ U U
L r
U U U
O O O
0 N
en N N
O O O 00
O O O 0"
O O O
C r 00 —
- v V
t r
va se v)
U
z
b
0
L
0
a
* Income acco
•
•
Merrill Lynch
FAYETTEVILLE FIRE PENSION AND
RELIEF FUND U/A DTD 6/18/86
INCOME ACCOUNT
113 W MOUNTAIN ST
FAYETTEVILLE AR 72701
Dear Client
Ref: Account 563-96345
Merrill Lynch, Pierce, Fenner & Smith Inc.
9601 S. Meridian
alewood-CNrans-+
K' ,t 7/0l �ll!/LKJei 1RECEIVE'
`t`�� Gfrtimcy 'EP 19 2001
�c cee244,14:yes ' XTG DEF
PI . &ite "at & aL ua t
44o,
Atat
"kid yXails
We would like to make you aware of an optional feature of your account worth considering. A
Standing Letter of Authorization for wire transfers allows you to request the wiring of funds to
the same bank and .account destination with just a phone call to your Financial Advisor. You
will no longer have to provide Merrill Lynch with a letter every time you need to wire funds to an
enrolled receiving account.
Enrollment is easy, simply confirm the information below, complete those Items whichare blank,
have the appropriate persons sign, and return to Merrill Lynch in the enclosed stamped
envelope.
Contact your Financial Advisor or Service Associate if you have any questions.
You authorize Merrill Lynch, upon further Instruction from you, to wire transfer to the following
Federal Reserve member bank:
BANK OF ARKANSAS
The ABA number for this bank is 082901392. The funds are to be credited to:
FAYETTEVILLE FIRE PENSION AND
RELIEF FUND U/A DTD 6/18/86
INCOME ACCOUNT
•
The bank account number is 1063401
RECEIVED
SEP 20 2001
CITY OF FAYEnEVILLE
CITY CLERK'S OFFICE
09-20-01 A10:22 IN
Please complete the following. section:
What is the maximum arnount you would like this standing letter of authorization?
S
If you would like an expiration date for this Standing Letter of Authorization, please indicate the
date.
Please print the names of all individuals that may request wire transfers based upon this
Standing Letter of Authorization.
Sincerely,
JAMES M. THORNTON
DIRECTOR - CLIENT ACCOUNT SERVICES
I acknowledge that I have received and read a copy of the Standing Letter of
Authorization Agreement, which is incorporated by references in this acknowledgement as if
included here in its entirety.
If I am signing as corporate officer, as a partner, or as a trustee or other fiduciary for
this account, I represent and warrant to you, as applicable: (1) that I am duly authorized to
execute this Agreement on behalf of the account; (2) that the governing documents of the
corporation, partnership, trust or other fiduciary arrangement permit the transfers that are or
will be instructed under this Agreement and/or that all necessary action has been taken under
such governing documents to authorize the execution of this Agreement and the transfers that
are or will be instructed under this agreement by the person who are herewith identified to you
as authorized to give instructions on behalf of the account; (3) If a revocable trust, that the
transfers that are or will be instructed under this Agreement represent valid partial or total
revocations by me; and you may conclusively rely on these representations.
By signing below, I acknowledge the accuracy of the information above. I agree to the
terms and conditions of this Agreement, including the provisions regarding indemnification, all
of which I understand and agree may be subject to change. This Standing Letter of
s
•
•
•
•
•
•
r
OZ Merrill Lynch
Authorization will remain in force until the expiration date indicated above or until I notify you
requesting its cancellation.
Signature Title Date
Signature Title Date
Please add as many signature lines as needed for all participants or other authorized persons
to sign. For Corporations, the Principal Executive Officer and Secretary must sign. For
partnerships all general partners must sign. For limited liability companies, all managers must
sign If manager run, and all members must sign if member run. For trusts or other fiduciary
arrangements, all trustees or other fiduciaries must sign.
2564487824
V31/00
•
00
m .�
M V1
N N
rl
01
a., 1
* —t P"Ye.
ezel el "M O .r
C r--7 O N O
M'
M re1O O G11/46
O�.+i'� NINI + + +
1
i
t•e
0 i i . e
0 1001 fn l 40, N ON O 'n ‘,0 50
I,y • jj.r N 1 ;. M i .--i RO 00 oo 11:
ere .Ni{+�4, tM!Ni—j+}M �i 1,+IOI
11� 1+i+• 4
1 •1
J 1
11
"0 tre a-, LO
N h M
0R x.00 'nl
N + N
ire
N N
N N
IT I%
I
1
*
*
blO. en
1
S
1
3
A
CT O Z
CT O O
en en en U
N N 01 0
O O O
A*
01) Oa 00
Q 0 0
U U
O O .
' G G
�
y y
O O O 00
O O O O\
O O O
N N 1 _
10
EA 69 A
* Income ac
ct
U
7
0
ct
0
a