Section 904.20  Custody, Care and Disposition of Securities

a)         Transfer, sale, assignment or disposition of any security belonging to any such company, other than upon the surrender of the security for payment at maturity or under an option of the maker of the security to repay the security shall be authorized or ratified by the Board of Directors, or by a committee of the Board charged with the duty of supervising investments and loans.

b)         Any instrument for the assignment, sale, transfer or disposition of any such securities, and all checks or other orders for disbursement of funds of the company in connection with the purchase of any such securities, shall require the signature of at least two officers or employees who shall have been so authorized by the Board of Directors, or by a committee of the Board charged with the duty of supervising investments and loans.

c)         Access to any and all vaults or other repositories on the premises of any company containing securities of the company and access to any safe deposit boxes containing such securities shall be limited to officers and employees designated by the Board of Directors and such designation shall require that at least two of the persons so designated shall be present at the time of entry and during the access to the vault, repository or safe deposit box.

(Source:  Amended at 30 Ill. Reg. 337, effective December 29, 2005)