CRNBC Board Teleconference — May 23, 2013
The report was presented by Chilwin Cheng on behalf of the Finance and Audit Committee.
Moved and seconded to have Captive pay a dividend to CRNBC in the amount required to reclaim its Refundable Dividend Tax on Hand, and that this amount be accounted for as an unrestricted capital contribution in the Capital Fund.
Moved and seconded that CRNBC, being the sole shareholder of the CRNBC Captive Insurance Corporation, appoint Cynthia Johansen as its duly authorized representative to:
attend and represent the College at, and vote the shares of the College, at meetings of the Company, including the 2013 Annual General Meeting of the shareholder of the Company;
execute other documents on behalf of the College as shareholder of the Company;
for the following purposes:
The meeting adjourned at 1015 hours.