Regular and Extra Dividends
Form 3012 can be used whenever the board finds it necessary to skip a regular dividend.~

Form 3012:     BOARD OF DIRECTORS' RESOLUTION SKIPPING A DIVIDEND~
BOARD OF DIRECTORS' RESOLUTION SKIPPING A DIVIDEND

Upon a duly made, seconded and unanimously carried motion, the Board of Directors of this Corporation adopted the following resolution:
WHEREAS, it is the concern of the Board of Directors that this Corporation may be required to seek borrowed funds in the next fiscal year and that such a requirement may require the Corporation to present to a borrower a financial statement showing a substantial surplus account, it is hereby
RESOLVED, that a regular dividend will not be declared on the common stock of this Corporation for the > quarter of 19> , and that the amount so saved is to be retained by the Corporation in its surplus account.
The undersigned, > , certifies that I am the duly appointed Secretary of > Corporation and that the above is a true and correct copy of a resolution duly adopted at a meeting of the directors thereof, convened and held in accordance with law and the Bylaws of said Corporation on > , 19> , and that such resolution is now in full force and effect.
IN WITNESS THEREOF, I have affixed my name as Secretary of > Corporation and have attached the seal of > Corporation to this resolution.
Secretary
Dated: > , 19> .
(SEAL)