Exhibit (1)(P)
UNANIMOUS WRITTEN CONSENT OF
THE BOARD OF DIRECTORS OF
GE LIFE AND ANNUITY ASSURANCE COMPANY
The undersigned, being all of the members of the Board of Directors of GE Life
and Annuity Assurance Company of Virginia, a Virginia corporation, in lieu of a
meeting held for the purpose and pursuant to the provisions of Section 13.1-685
of the Code of Virginia do hereby approve the following resolutions:
WHEREAS, The Board of Directors of the Company, pursuant to the Provisions of
Section 38.2-3113 of the Code of Virginia, adopted resolutions establishing Life
of Virginia Separate Account III ("Separate Account III") on February 10, 1987;
and
WHEREAS, The Board of Directors adopted resolutions changing the name of the
company to GE Life and Annuity Assurance Company and the name of the separate
account to GE Life & Annuity Separate Account III on January 1, 1999; and
WHEREAS, The Company wishes to establish 41 additional subaccounts/investment
subdivisions of Separate Account III which will invest in shares of AIM V.I.
Capital Appreciation Fund, AIM V.I. Growth Fund, and AIM V.I. Value Fund of AIM
Variable Insurance Funds; Growth and Income Portfolio, Premier Growth Portfolio
and Quasar Portfolio of Alliance Variable Products Series Fund, Inc.; Dreyfus
Investment Portfolios-Emerging Markets Portfolio and The Dreyfus Socially
Responsible Growth Fund, Inc. of The Dreyfus Corporation; Federated High Income
Bond Fund II and Federated International Small Company Fund II of the Federated
Insurance Series; Equity Income Portfolio and Growth Portfolio of Fidelity
Variable Insurance Products Fund; Contrafund Portfolio of Fidelity Variable
Insurance Products Fund II; Growth & Income Portfolio and Mid Cap Portfolio of
Fidelity Variable Insurance Products Fund III; Mid-Cap Value Equity Fund, Money
Market Fund, Premier Growth Equity Fund, S&P 500 Index Fund, Small-Cap Value
Equity Fund, U.S. Equity Fund, and Value Equity Fund of GE Investments Funds,
Inc.; Aggressive Growth Portfolio, Balanced Portfolio, Capital Appreciation
Portfolio, Global Sciences Portfolio, Global Technology Portfolio, Growth
Portfolio, International Growth Portfolio, and Worldwide Growth Portfolio of
Janus Aspen Series; MFS Growth Series, MFS Growth With Income Series, MFS New
Discovery Series and MFS Utilities Series of the Massachusetts Financial
Services Company Variable Insurance Trust; Oppenheimer Global Securities Fund/VA
and Oppenheimer Main Street Growth & Income Fund/VA of Oppenheimer Variable
Account Funds; Foreign Bond Portfolio, High Yield Bond Portfolio, Long-Term U.S.
Government Bond Portfolio and Total Return Bond Portfolio of PIMCO Variable
Insurance Trust; and Rydex OTC Fund of Rydex Variable Trust.
NOW, THEREFORE, BE IT RESOLVED, That the Executive Committee of the Board of
Directors of the Company does hereby establish and create 41 additional
subaccounts/investment subdivision of the aforementioned separate account. The
new subdivisions/investment subdivisions shall invest in shares of a single
mutual fund portfolio as set forth below:
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INVESTMENT SUBDIVISIONS: TO BE INVESTED IN:
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AIM Variable Insurance Funds.
AIM Capital Appreciation -B AIM V.I. Capital Appreciation Fund
AIM Growth -B AIM V.I. Growth Fund
AIM Value -B AIM V.I. Value Fund
Alliance Variable Products Series Fund
AVP Growth and Income -B Growth and Income Portfolio
AVP Premier Growth -B Premier Growth Portfolio
AVP Quasar -B Quasar Portfolio
Dreyfus
DRF Emerging Markets -B Dreyfus Investment - Emerging Markets Portfolio
DRF Socially Responsible Growth -B The Dreyfus Socially Responsible Growth Fund, Inc.
Federated Insurance Series
FED High Income Bond -B Federated High Income Bond Fund II
FED International Small Company-B Federated International Small Company Fund II
Fidelity Variable Insurance Products Fund
FID Equity Income -B Equity Income Portfolio
FID Growth -B Growth Portfolio
Fidelity Variable Insurance Products Fund II
FID Contrafund -B Contrafund Portfolio
Fidelity Variable Insurance Products Fund III
FID Growth & Income -B Growth & Income Portfolio
FID Mid Cap -B Mid Cap Portfolio
GE Asset Management
GEI Mid-Cap Value Equity -B Mid-Cap Value Equity Fund
GEI Money Market -B Money Market Fund
GEI Premier Growth Equity -B Premier Growth Equity Fund
GEI S&P 500 Index -B S&P 500 Index Fund
GEI Small-Cap Value Equity -B Small-Cap Value Equity Fund
GEI U.S. Equity -B U.S. Equity Fund
GEI Value Equity -B Value Equity Fund
Janus Aspen Series
JAN Aggressive Growth -B Aggressive Growth Portfolio
JAN Balanced -B Balanced Portfolio
JAN Capital Appreciation -B Capital Appreciation Portfolio
JAN Global Life Sciences -B Global Life Sciences Portfolio
JAN Global Technology -B Global Technology Portfolio
JAN Growth -B Growth Portfolio
JAN International Growth -B International Growth Portfolio
JAN Worldwide Growth -B Worldwide Growth Portfolio
MFS Variable Insurance Trust
MFS Growth -B MFS Growth Series
MFS Growth With Income-B MFS Growth With Income Series
MFS New Discovery-B MFS New Discovery Series
MFS Utilities Series-B MFS Utilities Series
Oppenheimer Variable Account Funds
OPP Global Securities/VA -B Oppenheimer Global Securities Fund/VA
OPP Main Street Growth & Income/VA -B Oppenheimer Main Street Growth & Income Fund/VA
PIMCO Variable Insurance Trust
PIM Foreign Bond -B Foreign Bond Portfolio
PIM High Yield Bond -B High Yield Bond Portfolio
PIM Long-Term U.S. Government Bond -B Long-Term U.S. Government Bond Portfolio
PIM Total Return Bond -B Total Return Bond Portfolio
Rydex Variable Trust
RYD OTC -B Rydex OTC Fund
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NOW, THEREFORE, BE IT RESOLVED, That the Board of Directors of the Company does
hereby establish and create additional investment subdivisions of the
aforementioned separate account. The new investment subdivisions shall invest in
shares of a single mutual fund portfolio as set forth below:
FURTHER RESOLVED, That the President, or any Senior Vice President, and each of
them, with full power to act without the others, are hereby severally authorized
to execute whatever agreement or agreements may be necessary or appropriate to
enable such investments to be made, and the Board of Directors hereby ratifies
any such officer in executing any such agreement prior to the date of these
resolutions; and
FURTHER RESOLVED, That the President or any Senior Vice President, and each of
them, with full power to act without the others, are hereby severally authorized
to execute and deliver such other documents and do such acts and
things as each or any of them may deem necessary or desirable to carry out the
foregoing resolutions and the intent and purposes thereof.
FURTHER RESOLVED, That these resolutions shall take effect as of May 12, 2000.