OPENING A WORKING CAPITAL MANAGEMENT ACCOUNT
WHEREAS, the Philadelphia Bar Association can reduce its investment commission fees by as much as 50% by including its invested funds in a Merrill Lynch Strategic Portfolio Advisory Account and
WHEREAS, it is necessary to open a Working Capital Management Account Agreement to participate in the SPA Account
NOW, THEREFORE, BE IT RESOLVED that Administration be authorized to open a Working Capital Management Account with Merrill Lynch.
PHILADELPHIA BAR ASSOCIATION
BOARD OF GOVERNORS
ADOPTED: July 24, 1997