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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 14, 2005
REGAN HOLDING CORP.
(Exact name of registrant as specified in its charter)
California 000-19704 68-0211359
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation) File Number) Identification No.)
2090 Marina Avenue
Petaluma, California 94954
(Address of principal executive offices)
(707) 778-8638 (Registrant's
telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2.):
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 1.02 Termination of a Material Definitive Agreement
On June 14, 2005, Regan Holding Corp. (the "Company"), agreed with AmerUs
Annuity Group Co. ("AmerUs") on the process to be followed for the Company to
provide reasonable assistance to AmerUs to transition the administration of
certain AmerUs insurance contracts in accordance with the provisions of an
Insurance Processing Agreement (the "Insurance Processing Agreement") between
Legacy Marketing Group, a wholly owned subsidiary of the Company, and IL
Annuity. The Company has been administering these insurance contracts under the
terms of the Insurance Processing Agreement since January 1, 1996. IL Annuity
and Insurance Company was merged into Indianapolis Life Insurance Company in
2003. Indianapolis Life Insurance Company is a subsidiary of AmerUs.
The Insurance Processing Agreement is scheduled to expire on December 31, 2005.
The Company is in negotiations with AmerUs with respect to the possible
acceleration or deferral of the expiration date of the Insurance Processing
Agreement. In the quarter ended March 31, 2005, the Company received
approximately $460,000 in gross revenue under the Insurance Processing
Agreement. The Company is examining its expenses associated with this block of
business and is evaluating what impact such termination or expiration is likely
to have on the Company's net income.
Termination of the Insurance Processing Agreement will not affect the
commissions earned by Legacy Marketing Group on additional premium received or
assets under management with respect to the underlying AmerUs insurance
contracts.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
REGAN HOLDING CORP.
(Registrant)
Date: June 20, 2005 /s/ R. Preston Pitts
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R. Preston Pitts
President, Chief Financial Officer and
Chief Operating Officer