ASSUMPTION REINSURANCE AGREEMENT
BETWEEN
ACADIAN LIFE INSURANCE COMPANY
AND
SECURITY NATIONAL LIFE INSURANCE COMPANY
THIS ASSUMPTION REINSURANCE AGREEMENT (this "Agreement") is made and entered
into effective as of the 1st day of January, 2003 (the "Effective Date"), by and
among ACADIAN LIFE INSURANCE COMPANY, a Louisiana insurance company ("Acadian"),
ACADIAN FINANCIAL GROUP, INC., a Louisiana corporation ("AFG"), SECURITY
NATIONAL LIFE INSURANCE COMPANY, a Utah insurance company ("Security National
Life") and SECURITY NATIONAL FINANCIAL CORPORATION, a Utah corporation
("Security National Financial").
WITNESSETH:
WHEREAS, Acadian desires to reinsure with Security National Life all of
Acadian's insurance policies listed and described in that certain coinsurance
agreement (the "Coinsurance Agreement") dated December 17, 2002 (the "Execution
Date"), between Acadian and Security National Life acquired from Gulf National
Life Insurance in force and effect (including policies which may be lapsed
subject to the right of reinstatement, policies not lapsed but in arrears, and
policies in force and in effect as paid up and extended term policies) as of the
Effective Date (hereinafter the "Reinsured Business"), subject to approval by
the commissioner of insurance of the state of Louisiana (the "Commissioner"),
upon the following terms and of conditions; and
WHEREAS, Acadian constitutes the sole operating subsidiary of AFG, and AFG
desires to join in this Agreement to ratify and confirm the sale and reinsurance
of Acadian's insurance business; and
WHEREAS, Security National Life is a wholly-owned subsidiary of Security
National Financial, and Security National Financial desires to join in this
Agreement to ratify and confirm the assumption of the Reinsured Business by
Security National Life;
NOW, THEREFORE, in consideration of the mutual promises, covenants and
agreements herein contained, the parties hereby agree as follows:
1. Reinsurance Obligations of Security National Life. Subject to approval
by the Commissioner, as provided for in Section 9 below, Acadian does
hereby cede to Security National Life, and Security National Life does
hereby assume, reinsure, and guarantee all of the insurance risks and
contractual obligations of Acadian relating only to the Reinsured
Business and included within the Master Policy List of Acadian as
listed and described on the compact disk (CD) attached hereto as
Schedule A, dated as of the Effective Date, which Schedule shall be
attached to this Agreement on the Effective Date. Security National
Life hereby agrees to pay all legal liabilities and obligations,
including claims and commissions, of Acadian under or with respect to
the Reinsured Business, arising on or after the Effective Date, in
accordance with the terms and conditions of the policies included
within the Reinsured Business. Security National Life hereby further
covenants and agrees with Acadian and with each of the holders of
policies included in the Reinsured Business, and with the
beneficiaries thereof and/or their legal representatives and assigns,
that effective as of the Effective Date, Security National Life will
assume and carry out the several obligations of Acadian contained in
the policies included in the Reinsured Business.
Security National Life covenants and agrees to issue a certificate of assumption
for each policy in force included in the Reinsured Business, reinsuring the same
according and subject to the terms and conditions thereof; provided, however,
that Security National Life may be subrogated to and substituted for all rights,
privileges and interests accruing under said policies included in the Reinsured
Business, to the extent of the reinsurance agreed upon hereunder, and provided
further that all obligations and liabilities hereby assumed by Security National
Life are assumed subject to the terms, limitations and conditions of the
insurance policies included in the Reinsured Business and all defenses,
counter-claims and off-sets which are or might hereafter become available to
Security National Life subsequent to the Effective Date. Security National Life
is assuming only those insurance risks and contractual obligations included
within the Reinsured Business of Acadian provided for hereunder, and Security
National Life is not assuming hereunder any extra-contractual or other
liabilities or obligations of Acadian. Security National Life is not assuming
and Acadian is not ceding any policy issued to an insured whose death occurred
prior to the Effective Date and for which a death claim has been received by
Acadian prior to the Effective Date. Security National Life does hereby assume
any valid claim of an insured whose death occurred prior to the Effective Date
:and for which a death claim was not received by Acadian prior to the Effective
Date.
2. Assignment by Acadian of Policy Contracts
(a) Acadian does hereby, upon the Effective Date of this Agreement,
transfer, assign and convey unto Security National Life all of its
right, title and interest, as of the Effective Date, in and to the
Reinsured Business, including policies which may be lapsed subject to
the right of reinstatement and policies in force and in effect as paid
up and extended term policies. Such policies have been issued or
assumed by Acadian only in the forms set forth on all policy forms on
Schedule B, attached hereto.
(b) On the Effective Date, Acadian agrees to turn over to Security
National Life all policy owner service, underwriting and other files
now on hand which may be needed by Security National Life in the
continuation of the Reinsured Business, and Acadian further agrees to
turn over such records and record books as may be necessary for
carrying on the Reinsured Business including all such permanent
records of Acadian necessary to Security National Life to continue in
force and effect the Reinsured Business. It is understood that Acadian
is to turn over to Security National Life all life applications in
Acadian's possession on risks covered by policies in full force and
effect and on which premiums are currently being collected, and all of
such other forms which Acadian has been using in the conduct of its
insurance business, including life registers, lapse registers,
reinsurance reserve sheets and tabulations on the Reinsured Business.
(c) Effective as of the Effective Date, all premiums on policies of
insurance covered by this contract shall be and become the property of
Security National Life subject to the restrictions and limitations
herein provided and shall be accounted for to Security National Life.
(d) It is understood and agreed that Acadian is ceding all of the
Reinsured Business to Security National Life as of the Effective Date.
From the date of this Agreement until the Effective Date, Acadian shall operate
in the ordinary course of business. Notwithstanding the foregoing, Security
National Life shall be wholly responsible for any and all risks related to the
Reinsured Business following the Effective Date, including any potential or
actual decline in the level of or number of insurance policies included within
the Reinsured Business.
3. Treatment of Claims. Subject to the provisions of Section 1, above, all
claims of every nature and description originating and arising prior to the
last day of the month in which the Execution Date occurs of the Coinsurance
Agreement under policies included in the Reinsured Business shall be paid
and discharged by Acadian. All claims originating and arising on or after
the last day of the month in which the Execution Date occurs and relating
to the Reinsured Business shall be paid by Security National Life.
4. Transfer of Assets.
(a) The Reinsured Business shall be transferred as of the Effective Date
to Security National Life, and Acadian shall deliver these assets,
which will include the Incurred But Not Reported (IBNR) reserve to
cover the liabilities assumed by Security National Life in paragraph
#1 above, to Security National Life pursuant to the Coinsurance
Agreement and the assets shall become the sole and exclusive property
of Security National Life. The reserves applicable to the Reinsured
Business and other similar amounts with respect to losses, benefits,
claims, and expenses in respect of the Reinsured Business are to be
(i) determined in accordance with the accounting practices required
or permitted by the insurance regulatory authority in the State
of Mississippi, consistently applied throughout the specified
period and in the comparable period in the immediately preceding
year, and generally accepted actuarial assumptions consistently
applied,
(ii) determined in accordance with the benefits specified in the
related insurance policies,
(iii)calculated, established and reflected on a basis consistent with
those reserves and other similar amounts and reserving methods
followed by Acadian at December 31, 2001, and
(iv) determined in conformity with the requirements of the insurance
laws of the State of Mississippi. The reserves for the Reinsured
Business as of the end of the quarter immediately preceding the
date of Closing are set forth on Schedule C.
(b) The assets subject to this Agreement will be such assets as may be
identified by Security National Life, all of which shall be admissible
assets under statutory accounting principles as applicable in the
states of Mississippi and Utah. The assets that are designated to be
transferred at statutory values as of the last day-of the quarter
immediately preceding Closing date to support the reserves for the
Reinsured Business, are set forth on Schedule D. All of the assets
shall be transferred to Security National Life free and clear of all
liens and encumbrances of any nature, whatsoever.
(c) On or before the expiration of sixty (60) days following the Effective
Date, Acadian shall deliver or cause to be delivered to Security
National Life any additional assets as may be necessary to result in
final delivery to Security National Life of assets equal to the total
reserves applicable to the Reinsured Business as of the Effective
Date. Conversely, if the assets delivered by Acadian to Security
National Life at Closing exceed the total reserves applicable to the
Reinsured Business as of the Effective Date, Security National Life
shall return to Acadian assets having a statutory value equal to such
excess, on or before the expiration of sixty (60) days following the
Effective Date.
5. Consideration for Reinsurance. The consideration for this Agreement on the
part of Security National Life is hereby declared to be the assumption by
Security National Life of all liabilities and obligations of Acadian
pursuant to Section 1 hereof and the administration thereof, and the
payment by Security National Life to Acadian of the sum of ten dollars
($10.00), the receipt and sufficiency of which are hereby acknowledged.
6. Closing. The closing of this transaction (the "Closing") shall occur at a
time and place specified by Security National Life anytime but not later
than nine (9) months subsequent to the Execution Date of the Coinsurance
Agreement. In the event Acadian comes under any supervision of a state
regulator, applies for or consent in the appointment of, or the taking of
possession by, a receiver, custodian, regulator, trustee or liquidator of
itself or of all or a substantial part of its assets, makes a general
assignment for the benefit of its creditors, commences a voluntary case
under the Federal Bankruptcy Code, or files a petition seeking to take
advantage of any other law relating to bankruptcy, insolvency,
reorganization or winding up, Acadian shall be deemed to have converted the
Coinsurance Agreement to this Agreement one day prior to such insolvency or
other actions described in this Section 6.
7. Indemnity.
(a) Acadian agrees to hold harmless Security National Life from (i) any
claims by any third parties to the ownership or options to acquire the
ownership of any of the assets, tangible, intangible, movable or
immovable, covered by this Agreement, (ii) any claims to be paid or
discharged by Acadian pursuant to Section 3 and (iii) any and all
monetary damages, liabilities, fines, fees, penalties, interest
obligations, deficiencies, losses, costs, and expenses (including
reasonable fees and expenses of attorneys, accountants, actuaries, and
other experts) solely related to the Reinsured Business resulting from
any breach of Acadian of any representation, warranty, covenant or
agreement made by Acadian in this Agreement. The indemnity provisions
provided in subsection (iii) of the preceding sentence shall only
apply to such claims presented in writing to Acadian on or before one
year from the Effective Date. 30.
(b) Security National Life agrees to hold harmless Acadian from (i) any
and all liabilities and obligations with respect to the Reinsured
Business which Security National Life has agreed to pay pursuant to
this Agreement, provided that Security National Life shall be entitled
to assert any defenses at law or in equity that could have been
asserted by Acadian, and (ii) any and all monetary damages,
liabilities, fines, fees, penalties, interest obligations,
deficiencies, losses, costs, and expenses (including reasonable fees
and expenses of attorneys, accountants, actuaries, and other experts)
solely related to the Reinsured Business resulting from any breach by
Security National Life of any representation, warranty, covenant or
agreement made by Security National Life in this Agreement. The
indemnity provisions provided in subsection (ii) of the preceding
sentence shall only apply to such claims presented in writing to
Security National Life on or before one year from the Effective Date.
8. Certificates of Assumption. Security National Life agrees to issue to each
policyholder reinsured hereunder a Certificate of Assumption in the form
attached hereto as Schedule E.
9. Approval by Louisiana Department of Insurance. This Agreement shall be
binding on the parties hereto from the date of its execution, and neither
party shall have the right to void this Agreement, but it shall not become
effective unless and until it has been approved in writing by the
commissioner of insurance of the state of Louisiana and the transfer of
assets and payment of consideration described in Sections 4 and 5 have
occurred.
10. Other Reinsurance Agreements. Acadian hereby represents to Security
National Life that there is not presently in force any other reinsurance or
coinsurance agreement between Acadian and any other company, except for
those reinsurance agreements listed and described on Schedule F attached
hereto, nor has Acadian ceded any business to any company through any means
whatsoever, except as set forth on Schedule F.
11. Coinsurance Agreement. The parties acknowledge that all of the obligations
of Acadian and Security National Life hereunder shall be conditioned upon
Regulatory Approval (as defined below) of an automatic Coinsurance
Agreement between Security National Life and Acadian. For purposes of this
Agreement, the term Regulatory Approval shall mean formal, written approval
of such automatic Coinsurance Agreement by the Louisiana Department of
Insurance, as well as any other regulatory department, agency or authority
having jurisdiction over such transaction, or in lieu of such approval,
written confirmation from any such department or agency that no such
approval is required.
12. Arbitration.
(a) It is the intention of both Security National Life and Acadian that
the normal business practices of the insurance industry applicable to
reinsurance be used to interpret this Agreement. The companies will
act in all things with the highest good faith. All disputes and
differences with respect to either party's rights or obligations under
this Agreement, on which an amicable understanding cannot be reached
are to be decided by arbitration. The arbitrators are empowered to
interpret this Agreement and are free to reach their decision from the
standpoint of equity and customary reinsurance practices rather than
from the strict law.
(b) Three arbitrators shall be appointed who must be current or former
executive officers of life insurance or life reinsurance companies,
other than the two parties to this Agreement or their affiliates or
subsidiaries, Security National Life will appoint one arbitrator and
Acadian the second. These two arbitrators will select a third before
arbitration begins. If one of the parties declines to appoint an
arbitrator or if the two arbitrators are unable to agree upon the
choice of a third, the appointment will be left to the president of
the American Council of Life Insurance or its successor organization.
(c) The arbitration will be held in Jackson, Mississippi. The arbitrators
will decide by a majority of votes and from their written decision
there shall be no appeal. Each party will pay the fees of its own
attorneys and all other expenses connected with the presentation of
its case. The other costs of arbitration, including the fees of the
arbitrators, will be borne by the losing party unless the arbitrators
decide otherwise.
13. Insolvency. In the event of Acadian's insolvency, the reinsurance afforded
by this Agreement will be payable by Security National Life on the basis of
Acadian's liability under the policies reinsured without diminution because
of Acadian's insolvency or because its liquidator, receiver, conservator,
or statutory successor has failed to pay all or a portion of any claims,
subject, however, to the right of Security National Life to offset against
such funds due hereunder, any sums that may be payable by Security National
Life to said insolvent Acadian, which right of offset is hereby expressly
granted by Acadian, in accordance with applicable law. The reinsurance will
be payable by Security National Life directly to Acadian, its liquidator,
receiver, conservator, or statutory successor except (a) where this
Agreement specifically provides another payee of such reinsurance in the
event of Acadian's insolvency or (b) where Security National Life, with the
consent of the direct insured or insureds, has assumed such policy
obligations of Acadian as direct obligations of itself to the payees under
such policies in substitution for Acadian's obligation to such payees.
Acadian's liquidator, receiver, conservator, or statutory successor will give
written notice of the pendency of a claim against Acadian under the policies
reinsured within a reasonable time after such claim is filed in the insolvency
Proceeding. During the pendency of such claim, Security National Life may
investigate said claim and interpose in the proceeding where the claim is to be
adjudicated, at its own expense, any defense that they may deem available to
Acadian, its liquidator, receiver, conservator, or statutory successor. The
expense thus incurred by Security National Life will be chargeable against
Acadian, subject to court approval, as part of the expense of conservation or
liquidation to the extent that such proportionate share of the benefit will
accrue to Acadian solely as a result of the defense undertaken by Security
National Life.
In the event of the insolvency of Security National Life, the liquidator,
receiver, or statutory successor of Security National Life will be entitled to a
lien against all assets of Security National Life in an amount equal to the
reserves and other liabilities of Security National Life applicable to the
Reinsured Business, and all reinsurance will be payable directly to the
liquidator, receiver, or statutory successor of Security National Life without
diminution because of the insolvency of Security National Life.
14. General Provisions.
(a) Notices. Any notice or other communication given pursuant to this
Agreement must be in writing and (i) delivered personally, (ii) sent
by facsimile or other similar facsimile transmission, (iii) delivered
by overnight express, or (iv) sent by registered or certified mail,
postage prepaid, as follows:
(A) If to Acadian:
Acadian Life Insurance Company
236 Third Street
Baton Rouge, Louisiana 70801
Attn: Robert E. Dolese, Chairman
Facsimile: (225) 7863-6540
(B) If to AFG:
Acadian Financial Group, Inc.
236 Third Street
Baton Rouge, Louisiana 70801
Attn: Robert E. Dolese, Chairman
Facsimile: (225) 7863-6540
(C) If to Security National Life:
Security National Life Insurance Company
5300 South 360 West, Suite 250
Salt Lake City, UT 84123
Attn: Scott M. Quist, President
Facsimile: (801) 265-9882
(D) If to Security National Financial:
Security National Financial Corporation
5300 South 360 West, Suite 250
Salt Lake City, UT 84123
Attn: Scott M. Quist, President
Facsimile: (801) 265-9882
All notices and other communications required or permitted under this Agreement
that are addressed as provided in Section 14(a) will
(a) if delivered personally or by overnight express, be deemed
given upon delivery;
(b) if delivered by facsimile or similar facsimile transmission,
be deemed given when electronically confirmed; and
(c) if sent by registered or certified mail, be deemed given
when received. Any party from time to time may change its
address for the purpose of notices to that party by giving a
similar notice specifying a new address, but no such notice
will be deemed to have been given until it is actually
received by the party sought to be charged with the contents
thereof.
(b) Entire Agreement. This Agreement supersedes all prior discussions and
agreements between the parties with respect to the subject matters of
this Agreement, and this Agreement, including the schedule attached
hereto, contains the sole and entire agreement between the parties
hereto with respect to the subject matter hereof.
(c) Expenses. Except as otherwise expressly provided in this Agreement,
each party hereto will pay its own costs and expenses in connection
with this Agreement and the transactions contemplated hereby.
(d) Confidentiality.
(i) From the date hereof until the fifth anniversary of the Effective
Date, each of Acadian and Security National Life will refrain,
and will cause its respective affiliates, officers, directors,
employees, agents, and other representatives to refrain, from
disclosing to any other person or entity any documents or
information concerning the other party hereto acquired by it in
connection with this Agreement or the transactions contemplated
hereby unless (A) such disclosure is compelled by judicial or
administrative process or by other requirements of law (including
in connection with obtaining necessary insurance regulatory
approvals) and notice of such disclosure is furnished to such
other party hereto as promptly as possible so that they may take
action to avoid such disclosure; (B) either party hereto deems it
necessary (upon advice of such party's legalcounsel) to disclose
any such documents or information in connection with the
requirements of law; or (C) such documents or information can be
shown to have been (1) previously known by the party hereto
receiving such documents or information, (2) in the public domain
through no fault of such receiving party, or (3) later acquired
by such receiving party from other public sources.
(ii) If this Agreement is terminated and does not become effective,
then, for a period of five years after such termination, Security
National Life will refrain, and will cause its respective
officers, directors, employees, agents, and other representatives
to refrain, from disclosing to any other person or entity any
documents or information concerning Acadian or the Reinsured
Business acquired by Security National Life in connection with
this Agreement or the transactions contemplated hereby unless (A)
such disclosure is compelled by judicial or administrative
process or by other requirements of law and notice of such
disclosure is furnished to Acadian as promptly as possible so
that they may take action to avoid such disclosure; (B) Security
National Life deems it necessary (upon advice of legal counsel to
Security National Life) to disclose any such documents or
information in connection with the requirements of law; or (C)
such documents or information can be shown to have been (1)
previously known by Security National Life, (2) in the public
domain through no fault of Security National Life, or (3) later
acquired by Security National Life from other public sources.
(iii)If this Agreement is not terminated and does become effective,
then for a period of five (5) years following the Effective Date,
Acadian will refrain, and will cause its affiliates, officers,
directors, employees, agents, and other representatives to
refrain, from disclosing, to any person or entity any information
regarding the Reinsured Business or the transactions contemplated
hereby unless (A) such disclosure is compelled by judicial or
administrative process or by other requirements of law and notice
of such disclosure is furnished to Security National Life as
promptly as possible so that it may take action to avoid such
disclosure; (B) Acadian deems it necessary (upon advice of legal
counsel to Acadian) to disclose any such documents or information
in connection with the requirements of law; or (C) such documents
or information can be shown to have been (1) in the public domain
through no fault of Acadian Seller, or (2) later acquired by
Acadian from other public sources.
(iv) Acadian and Security National Life hereto acknowledge and agree
that (A) a breach of any of the terms or provisions of this
Section would cause irreparable damage to the non-breaching party
for which adequate remedy at law is not available; and (B) the
non-breaching party will be entitled as a matter of right to
obtain, without posting any bond whatsoever, an injunction,
restraining order, or other equitable relief or restrain any
threatened or further breach of this Section, which right will
not be exclusive but will be cumulative and in addition to any
other rights and remedies available at law or in equity.
(v) Nothing in this subsection (d) shall prevent any party to this
Agreement from cooperating fully with insurance regulatory
officials in conducting examinations or otherwise carrying out
their regulatory responsibilities as authorized by applicable
law.
(e) Further Assurances. Acadian and Security National Life agree that,
from time to time after the Closing, upon the reasonable request of
the other, they will cooperate and will cause their respective
affiliates to cooperate with each other to effect the orderly
transition of the Reinsured Business from Acadian to Security National
Life.
(f) Waiver. Any term or condition of this Agreement may be waived at any
time by the party that is entitled to benefit thereof. Such waiver
must be in writing and must be executed by an executive officer of
such party. A waiver on one occasion will not be deemed to be a waiver
of the same or any other breach or nonfulfillment on a future
occasion. All remedies, either under this Agreement, or by law or,
otherwise afforded, will be cumulative and not alternative.
(g) Amendment. This Agreement may be modified or amended only in writing
duly executed by all parties.
(h) Counterparts. This Agreement may be executed simultaneously in any
number of counterparts, each of which will be deemed an original, but
all of which, when taken together, will constitute one and the same
instrument.
(i) Governing Law. This Agreement will be governed by and construed and
enforced in accordance with the laws of the State of Mississippi
(without regard to the principles of conflicts of law) applicable to a
contract executed and performable in such state.
(j) Binding Effect. This Agreement is binding upon and will inure to the
benefit of the parties and their respective successors and permitted
assigns.
(k) No Assignment. Neither this Agreement nor any right or obligation
hereunder or part hereof may be assigned by any party hereto without
(i) the prior written consent of the other parties hereto (and any
attempt to do so will be void), and (ii) the prior approval of the
Mississippi Department of Insurance. This paragraph shall not be
deemed to prohibit a merger or dissolution of Acadian.
(l) Due Diligence. All parties to this Agreement hereby acknowledge that
they have received from the others all information requested and have
had an adequate opportunity to investigate all aspects of this
transaction. Each party has done its own due diligence with respect to
this transaction, and each has hired and relied upon the advice of its
own attorneys, financial advisors, and such other advisors as such
party has deemed necessary to evaluate properly all aspects of this
transaction. Each party further acknowledges that no representations
have been made by any party concerning this transaction, except as
specifically set forth herein or in one or more written agreements
between the parties.
(m) Ratification by Holding Companies. AFG and Security National Financial
hereby execute this Agreement solely for the purpose of ratifying the
actions of their respective subsidiary companies, described herein.
(n) Invalid Provisions. If any provision of this Agreement is held to be
illegal; invalid, or unenforceable under any present or future law,
and if the rights or obligations under this Agreement of Acadian and
Security National Life will not be materially and adversely affected
thereby, (i) such provision will be fully severable; (ii) this
Agreement will be construed and enforced as if such illegal, invalid,
or unenforceable provision had never comprised a part hereof; and
(iii) the remaining provisions of this Agreement will remain in full
force and effect and will not be affected by the illegal, invalid, or
unenforceable provision or by its severance from this Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Assumption
Reinsurance Agreement to be executed by the respective officers authorized
to act in the premises, effective on the Effective Date.
ACADIAN LIFE INSURANCE COMPANY
By:_________________________________
Its: _______________________
SECURITY NATIONAL LIFE INSURANCE COMPANY
By:_________________________________
Its: _______________________
JOINING IN AGREEMENT FOR RATIFICATION
PURPOSES ONLY:
ACADIAN FINANCIAL GROUP, INC.
By:_________________________________
Its: _______________________
SECURITY NATIONAL FINANCIAL CORPORATION
By:_________________________________
Its: _______________________
STATE OF LOUISIANA )
)ss:
PARISH OF __________ )
Personally appeared before me, the undersigned authority in and for the
said county and state, on this ____ day of ______________, 2003, within my
jurisdiction, the within named ___________ _____________________, who
acknowledged that he is the ___________ of Acadian Life Insurance Company, a
Louisiana insurance company, and that for and on behalf of said company and as
its act and deed he executed the above and foregoing instrument, after first
having been duly authorized by said corporation so to do.
_______________________________
Notary Public
STATE OF UTAH )
)ss:
COUNTY OF SALT LAKE )
Personally appeared before me, the undersigned authority in and for the
said county and state, on this ____ day of ______________, 2003, within my
jurisdiction, the within named ___________ _______________________, who
acknowledged that he is the ___________ of Security National Life Insurance
Company, a Utah insurance company, and that for and on behalf of said company
and as its act and deed he executed the above and foregoing instrument, after
first having been duly authorized by said corporation so to do.
_______________________________
Notary Public
STATE OF LOUISIANA )
)ss:
PARISH OF __________ )
Personally appeared before me, the undersigned authority in and for the
said county and state, on this ____ day of ______________, 2003, within my
jurisdiction, the within named ___________ ___________________________, who
acknowledged that he is the ___________ of Acadian Financial Group, Inc., a
Louisiana corporation, and that for and on behalf of said corporation and as its
act and deed he executed the above and foregoing instrument, after first having
been duly authorized by said corporation so to do.
_______________________________
Notary Public
STATE OF UTAH )
)ss:
COUNTY OF SALT LAKE )
Personally appeared before me, the undersigned authority in and for the
said county and state, on this ____ day of ______________, 2003, within my
jurisdiction, the within named ___________ ______________________, who
acknowledged that he is the ___________ of Security National Financial
Corporation, a Utah corporation, and that for and on behalf of said corporation
and as its act and deed he executed the above and foregoing instrument, after
first having been duly authorized by said corporation so to do.
_______________________________
Notary Public