Download as pdf or txt
Download as pdf or txt
You are on page 1of 10

/%  /% 

/(*,6/$785( 2) 1(%5$6.$

21( +81'5(' ),567 /(*,6/$785(

6(&21' 6(66,21

/(*,6/$7,9( %,// 

,QWURGXFHG E\ &DPSEHOO 

5HDG ILUVW WLPH )HEUXDU\  

&RPPLWWHH +HDOWK DQG +XPDQ 6HUYLFHV

$ %,//

 )25 $1 $&7 UHODWLQJ WR WKH PHGLFDO DVVLVWDQFH SURJUDP WR DPHQG

 VHFWLRQV  DQG  5HLVVXH 5HYLVHG 6WDWXWHV RI

 1HEUDVND DQG VHFWLRQ  5HYLVHG 6WDWXWHV 6XSSOHPHQW

  WR SURYLGH IRU FRYHUDJH IRU FHUWDLQ FKLOGUHQ DV

 SUHVFULEHG WR UHSHDO WKH RULJLQDO VHFWLRQV DQG WR

 GHFODUH DQ HPHUJHQF\

 %H LW HQDFWHG E\ WKH SHRSOH RI WKH 6WDWH RI 1HEUDVND


/%  /% 

 6HFWLRQ  6HFWLRQ  5HYLVHG 6WDWXWHV 6XSSOHPHQW

  LV DPHQGHG WR UHDG

  9HULILFDWLRQ RI ODZIXO SUHVHQFH LQ WKH 8QLWHG

 6WDWHV SXUVXDQW WR VHFWLRQ  LV QRW UHTXLUHG IRU

  $Q\ SXUSRVH IRU ZKLFK ODZIXO SUHVHQFH LQ WKH 8QLWHG

 6WDWHV LV QRW UHVWULFWHG E\ ODZ RUGLQDQFH RU UHJXODWLRQ

  $VVLVWDQFH IRU KHDOWK FDUH VHUYLFHV DQG SURGXFWV

 QRW UHODWHG WR DQ RUJDQ WUDQVSODQW SURFHGXUH WKDW DUH QHFHVVDU\

 IRU WKH WUHDWPHQW RI DQ HPHUJHQF\ PHGLFDO FRQGLWLRQ LQFOXGLQJ

 HPHUJHQF\ ODERU DQG GHOLYHU\ PDQLIHVWLQJ LWVHOI E\ DFXWH V\PSWRPV

 RI VXIILFLHQW VHYHULW\ LQFOXGLQJ VHYHUH SDLQ VXFK WKDW WKH

 DEVHQFH RI LPPHGLDWH PHGLFDO DWWHQWLRQ FRXOG UHDVRQDEO\ EH H[SHFWHG

 WR UHVXOW LQ D SODFLQJ WKH SDWLHQW¶V KHDOWK LQ VHULRXV MHRSDUG\

 E VHULRXV LPSDLUPHQW WR ERGLO\ IXQFWLRQV RU F VHULRXV

 G\VIXQFWLRQ RI DQ\ ERGLO\ RUJDQ RU SDUW

  6KRUWWHUP QRQFDVK LQNLQG HPHUJHQF\ GLVDVWHU

 UHOLHI

  3XEOLF KHDOWK DVVLVWDQFH IRU LPPXQL]DWLRQV ZLWK

 UHVSHFW WR GLVHDVHV DQG IRU WHVWLQJ DQG WUHDWPHQW RI V\PSWRPV

 RI FRPPXQLFDEOH GLVHDVHV ZKHWKHU RU QRW VXFK V\PSWRPV DUH FDXVHG

 E\ D FRPPXQLFDEOH GLVHDVH RU

  3URJUDPV VHUYLFHV RU DVVLVWDQFH QHFHVVDU\ IRU WKH

 SURWHFWLRQ RI OLIH RU VDIHW\ VXFK DV VRXS NLWFKHQV FULVLV

 FRXQVHOLQJ DQG LQWHUYHQWLRQ DQG VKRUWWHUP VKHOWHU ZKLFK D

 GHOLYHU LQNLQG VHUYLFHV DW WKH FRPPXQLW\ OHYHO LQFOXGLQJ WKRVH


/%  /% 

 ZKLFK GHOLYHU VXFK VHUYLFHV WKURXJK SXEOLF RU SULYDWH QRQSURILW

 DJHQFLHV DQG E GR QRW FRQGLWLRQ WKH SURYLVLRQ RI DVVLVWDQFH WKH

 DPRXQW RI DVVLVWDQFH SURYLGHG RU WKH FRVW RI DVVLVWDQFH SURYLGHG

 RQ WKH LQFRPH RU UHVRXUFHV RI WKH UHFLSLHQW

 7KH /HJLVODWXUH ILQGV WKDW XQERUQ FKLOGUHQ GR QRW KDYH

 LPPLJUDWLRQ VWDWXV DQG WKHUHIRU DUH QRW ZLWKLQ WKH VFRSH RI VHFWLRQ

  3UHQDWDO FDUH VHUYLFHV WKDW DUH DYDLODEOH SXUVXDQW WR

 VHFWLRQ  DQG VHFWLRQ  RI WKLV DFW WR XQERUQ FKLOGUHQ ZKRVH

 HOLJLELOLW\ LV LQGHSHQGHQW RI WKH PRWKHU¶V HOLJLELOLW\ VWDWXV

 VKDOO QRW EH GHHPHG WR EH WLHG WR WKH LPPLJUDWLRQ VWDWXV RI WKH

 PRWKHU DQG WKHUHIRU DUH QRW LQFOXGHG LQ WKH UHVWULFWLRQV LPSRVHG E\

 VHFWLRQ 

 6HF  6HFWLRQ  5HLVVXH 5HYLVHG 6WDWXWHV RI

 1HEUDVND LV DPHQGHG WR UHDG

  6HFWLRQV  WR  DQG VHFWLRQ  RI WKLV

 DFW VKDOO EH NQRZQ DQG PD\ EH FLWHG DV WKH 0HGLFDO $VVLVWDQFH $FW

 6HF  6HFWLRQ  5HLVVXH 5HYLVHG 6WDWXWHV RI

 1HEUDVND LV DPHQGHG WR UHDG

  7KH IROORZLQJ SHUVRQV VKDOO EH HOLJLEOH IRU

 PHGLFDO DVVLVWDQFH

  'HSHQGHQW FKLOGUHQ DV GHILQHG LQ VHFWLRQ 

  $JHG EOLQG DQG GLVDEOHG SHUVRQV DV GHILQHG LQ

 VHFWLRQV  WR 

  &KLOGUHQ XQGHU QLQHWHHQ \HDUV RI DJH ZKR DUH HOLJLEOH

 XQGHU VHFWLRQ  D L RI WKH IHGHUDO 6RFLDO 6HFXULW\ $FW


/%  /% 

  3HUVRQV ZKR DUH SUHVXPSWLYHO\ HOLJLEOH DV DOORZHG

 XQGHU VHFWLRQV  DQG % RI WKH IHGHUDO 6RFLDO 6HFXULW\ $FW

  &KLOGUHQ XQGHU QLQHWHHQ \HDUV RI DJH ZLWK D IDPLO\

 LQFRPH HTXDO WR RU OHVV WKDQ WZR KXQGUHG SHUFHQW RI WKH 2IILFH

 RI 0DQDJHPHQW DQG %XGJHW LQFRPH SRYHUW\ JXLGHOLQH DV DOORZHG

 XQGHU 7LWOH ;,; DQG 7LWOH ;;, RI WKH IHGHUDO 6RFLDO 6HFXULW\ $FW

 ZLWKRXW UHJDUG WR UHVRXUFHV DQG SUHJQDQW ZRPHQ ZLWK D IDPLO\

 LQFRPH HTXDO WR RU OHVV WKDQ RQH KXQGUHG HLJKW\ILYH SHUFHQW RI

 WKH 2IILFH RI 0DQDJHPHQW DQG %XGJHW LQFRPH SRYHUW\ JXLGHOLQH

 DV DOORZHG XQGHU 7LWOH ;,; DQG 7LWOH ;;, RI WKH IHGHUDO 6RFLDO

 6HFXULW\ $FW ZLWKRXW UHJDUG WR UHVRXUFHV &KLOGUHQ GHVFULEHG

 LQ WKLV VXEGLYLVLRQ DQG VXEGLYLVLRQ  RI WKLV VHFWLRQ VKDOO

 UHPDLQ HOLJLEOH IRU VL[ FRQVHFXWLYH PRQWKV IURP WKH GDWH RI

 LQLWLDO HOLJLELOLW\ SULRU WR UHGHWHUPLQDWLRQ RI HOLJLELOLW\ 7KH

 GHSDUWPHQW PD\ UHYLHZ HOLJLELOLW\ PRQWKO\ WKHUHDIWHU SXUVXDQW WR

 UXOHV DQG UHJXODWLRQV DGRSWHG DQG SURPXOJDWHG E\ WKH GHSDUWPHQW

 7KH GHSDUWPHQW PD\ GHWHUPLQH XSRQ VXFK UHYLHZ WKDW D FKLOG LV

 LQHOLJLEOH IRU PHGLFDO DVVLVWDQFH LI VXFK FKLOG QR ORQJHU PHHWV

 HOLJLELOLW\ VWDQGDUGV HVWDEOLVKHG E\ WKH GHSDUWPHQW

  )RU SXUSRVHV RI 7LWOH ;,; RI WKH IHGHUDO 6RFLDO

 6HFXULW\ $FW DV SURYLGHG LQ VXEGLYLVLRQ  RI WKLV VHFWLRQ

 FKLOGUHQ ZLWK D IDPLO\ LQFRPH DV IROORZV

 D (TXDO WR RU OHVV WKDQ RQH KXQGUHG ILIW\ SHUFHQW RI

 WKH 2IILFH RI 0DQDJHPHQW DQG %XGJHW LQFRPH SRYHUW\ JXLGHOLQH ZLWK

 HOLJLEOH FKLOGUHQ RQH \HDU RI DJH RU \RXQJHU


/%  /% 

 E (TXDO WR RU OHVV WKDQ RQH KXQGUHG WKLUW\WKUHH

 SHUFHQW RI WKH 2IILFH RI 0DQDJHPHQW DQG %XGJHW LQFRPH SRYHUW\

 JXLGHOLQH ZLWK HOLJLEOH FKLOGUHQ RYHU RQH \HDU RI DJH DQG XQGHU VL[

 \HDUV RI DJH RU

 F (TXDO WR RU OHVV WKDQ RQH KXQGUHG SHUFHQW RI WKH

 2IILFH RI 0DQDJHPHQW DQG %XGJHW LQFRPH SRYHUW\ JXLGHOLQH ZLWK

 HOLJLEOH FKLOGUHQ VL[ \HDUV RI DJH RU ROGHU DQG OHVV WKDQ QLQHWHHQ

 \HDUV RI DJH

  3HUVRQV ZKR DUH PHGLFDOO\ QHHG\ FDUHWDNHU UHODWLYHV

 DV DOORZHG XQGHU  86& G D LL 

  $V DOORZHG XQGHU  86& D D  $ LL 

 GLVDEOHG SHUVRQV DV GHILQHG LQ VHFWLRQ  ZLWK D IDPLO\ LQFRPH

 RI OHVV WKDQ WZR KXQGUHG ILIW\ SHUFHQW RI WKH 2IILFH RI 0DQDJHPHQW

 DQG %XGJHW LQFRPH SRYHUW\ JXLGHOLQH DQG ZKR EXW IRU HDUQLQJV LQ

 H[FHVV RI WKH OLPLW HVWDEOLVKHG XQGHU  86& G T  % 

 ZRXOG EH FRQVLGHUHG WR EH UHFHLYLQJ IHGHUDO 6XSSOHPHQWDO 6HFXULW\

 ,QFRPH 7KH GHSDUWPHQW VKDOO DSSO\ IRU D ZDLYHU WR GLVUHJDUG DQ\

 XQHDUQHG LQFRPH WKDW LV FRQWLQJHQW XSRQ D WULDO ZRUN SHULRG LQ

 DSSO\LQJ WKH 6XSSOHPHQWDO 6HFXULW\ ,QFRPH VWDQGDUG 6XFK GLVDEOHG

 SHUVRQV VKDOO EH VXEMHFW WR SD\PHQW RI SUHPLXPV DV D SHUFHQWDJH RI

 IDPLO\ LQFRPH EHJLQQLQJ DW QRW OHVV WKDQ WZR KXQGUHG SHUFHQW RI

 WKH 2IILFH RI 0DQDJHPHQW DQG %XGJHW LQFRPH SRYHUW\ JXLGHOLQH 6XFK

 SUHPLXPV VKDOO EH JUDGXDWHG EDVHG RQ IDPLO\ LQFRPH DQG VKDOO QRW EH

 OHVV WKDQ WZR SHUFHQW RU PRUH WKDQ WHQ SHUFHQW RI IDPLO\ LQFRPH

 DQG


/%  /% 

  $V DOORZHG XQGHU  86& D D  $ LL 

 SHUVRQV ZKR

 D +DYH EHHQ VFUHHQHG IRU EUHDVW DQG FHUYLFDO FDQFHU

 XQGHU WKH &HQWHUV IRU 'LVHDVH &RQWURO DQG 3UHYHQWLRQ EUHDVW DQG

 FHUYLFDO FDQFHU HDUO\ GHWHFWLRQ SURJUDP HVWDEOLVKHG XQGHU 7LWOH ;9

 RI WKH IHGHUDO 3XEOLF +HDOWK 6HUYLFH $FW  86& N HW VHT

 LQ DFFRUGDQFH ZLWK WKH UHTXLUHPHQWV RI VHFWLRQ  RI VXFK DFW 

 86& Q DQG ZKR QHHG WUHDWPHQW IRU EUHDVW RU FHUYLFDO FDQFHU

 LQFOXGLQJ SUHFDQFHURXV DQG FDQFHURXV FRQGLWLRQV RI WKH EUHDVW RU

 FHUYL[

 E $UH QRW RWKHUZLVH FRYHUHG XQGHU FUHGLWDEOH FRYHUDJH

 DV GHILQHG LQ VHFWLRQ  F RI WKH IHGHUDO 3XEOLF +HDOWK 6HUYLFH

 $FW  86& JJ F 

 F +DYH QRW DWWDLQHG VL[W\ILYH \HDUV RI DJH DQG

 G $UH QRW HOLJLEOH IRU PHGLFDO DVVLVWDQFH XQGHU DQ\

 PDQGDWRU\ FDWHJRULFDOO\ QHHG\ HOLJLELOLW\ JURXS DQG

  6HUYLFHV GHVFULEHG LQ VXEVHFWLRQ  RI VHFWLRQ  RI

 WKLV DFW

 (OLJLELOLW\ ([FHSW DV SURYLGHG LQ VHFWLRQ  RI WKLV DFW

 HOLJLELOLW\ VKDOO EH GHWHUPLQHG XQGHU WKLV VHFWLRQ XVLQJ DQ LQFRPH

 EXGJHWDU\ PHWKRGRORJ\ WKDW GHWHUPLQHV FKLOGUHQ¶V HOLJLELOLW\ DW

 QR JUHDWHU WKDQ WZR KXQGUHG SHUFHQW RI WKH 2IILFH RI 0DQDJHPHQW

 DQG %XGJHW LQFRPH SRYHUW\ JXLGHOLQH DQG DGXOW HOLJLELOLW\ XVLQJ

 DGXOW LQFRPH VWDQGDUGV QR JUHDWHU WKDQ WKH DSSOLFDEOH FDWHJRULFDO

 HOLJLELOLW\ VWDQGDUGV HVWDEOLVKHG SXUVXDQW WR VWDWH RU IHGHUDO


/%  /% 

 ODZ 7KH GHSDUWPHQW VKDOO GHWHUPLQH HOLJLELOLW\ XQGHU WKLV VHFWLRQ

 SXUVXDQW WR VXFK LQFRPH EXGJHWDU\ PHWKRGRORJ\ DQG VXEGLYLVLRQ

  T RI VHFWLRQ 

 6HF   7KH /HJLVODWXUH ILQGV WKDW

 D 7LWOH ;;, RI WKH IHGHUDO 6RFLDO 6HFXULW\ $FW

 DV DPHQGHG DQG WKH UXOHV DQG UHJXODWLRQV SURPXOJDWHG SXUVXDQW

 WKHUHWR DXWKRUL]H WKH 6WDWH &KLOGUHQ¶V +HDOWK ,QVXUDQFH 3URJUDP

 WR DVVLVW VWDWH HIIRUWV WR LQLWLDWH DQG H[SDQG SURYLVLRQV RI FKLOG

 KHDOWK DVVLVWDQFH WR XQLQVXUHG ORZLQFRPH FKLOGUHQ

 E $V GHILQHG LQ 7LWOH ;;, RI WKH IHGHUDO 6RFLDO

 6HFXULW\ $FW DV DPHQGHG DQG WKH UXOHV DQG UHJXODWLRQV SURPXOJDWHG

 SXUVXDQW WKHUHWR FKLOG PHDQV DQ LQGLYLGXDO XQGHU WKH DJH RI

 QLQHWHHQ \HDUV LQFOXGLQJ DQ\ SHULRG RI WLPH IURP FRQFHSWLRQ WR

 ELUWK XS WR DJH QLQHWHHQ \HDUV

 F 3XUVXDQW WR 7LWOH ;;, RI WKH IHGHUDO 6RFLDO 6HFXULW\

 $FW DV DPHQGHG DQG WKH UXOHV DQG UHJXODWLRQV SURPXOJDWHG SXUVXDQW

 WKHUHWR HOLJLELOLW\ FDQ RQO\ EH FRQIHUUHG WR D WDUJHWHG ORZLQFRPH

 FKLOG LQFOXGLQJ DQ XQERUQ FKLOG XQGHU D VHSDUDWH FKLOG KHDOWK

 SURJUDP

 G 8QGHU 7LWOH ;;, RI WKH IHGHUDO 6RFLDO 6HFXULW\ $FW

 DV DPHQGHG DQG WKH UXOHV DQG UHJXODWLRQV SURPXOJDWHG SXUVXDQW

 WKHUHWR FKLOG KHDOWK DVVLVWDQFH LV DYDLODEOH WR EHQHILW XQERUQ

 FKLOGUHQ LQGHSHQGHQW RI WKH PRWKHU¶V HOLJLELOLW\ DQG LPPLJUDWLRQ

 VWDWXV

 H 8QGHU 7LWOH ;;, RI WKH IHGHUDO 6RFLDO 6HFXULW\ $FW


/%  /% 

 DV DPHQGHG DQG WKH UXOHV DQG UHJXODWLRQV SURPXOJDWHG SXUVXDQW

 WKHUHWR FKLOG KHDOWK DVVLVWDQFH H[SUHVVO\ LQFOXGHV SUHQDWDO FDUH

 WKDW FRQQHFWV WR WKH KHDOWK RI WKH XQERUQ FKLOG

 I 3UHQDWDO FDUH KDV EHHQ FOHDUO\ VKRZQ WR UHGXFH WKH

 OLNHOLKRRG RI SUHPDWXUH GHOLYHU\ RU ORZ ELUWK ZHLJKW ERWK RI ZKLFK

 DUH DVVRFLDWHG ZLWK D ZLGH UDQJH RI FRQJHQLWDO GLVDELOLW\ DV ZHOO

 DV LQIDQW PRUWDOLW\ DQG VXFK FDUH FDQ GHWHFW D JUHDW QXPEHU RI

 VHULRXV DQG HYHQ OLIHWKUHDWHQLQJ GLVDELOLWLHV PDQ\ RI ZKLFK FDQ

 QRZ EH VXFFHVVIXOO\ WUHDWHG LQ XWHUR

 J (QVXULQJ SUHQDWDO FDUH IRU PRUH FKLOGUHQ ZLOO

 VLJQLILFDQWO\ KHOS UHGXFH LQIDQW PRUWDOLW\ DQG PRUELGLW\ UDWHV DQG

 ZLOO VSDUH PDQ\ LQIDQWV IURP WKH EXUGHQ RI FRQJHQLWDO GLVDELOLWLHV

 DQG UHGXFH WKH FRVW RI WUHDWLQJ WKRVH FRQJHQLWDO GLVDELOLWLHV DIWHU

 ELUWK

 K ,W LV ZHOO HVWDEOLVKHG WKDW DFFHVV WR SUHQDWDO

 FDUH FDQ LPSURYH KHDOWK RXWFRPHV GXULQJ LQIDQF\ DV ZHOO DV RYHU

 D FKLOG¶V OLIH 6LQFH KHDOWK\ EDELHV DQG FKLOGUHQ UHTXLUH OHVV

 PHGLFDO FDUH WKDQ EDELHV DQG FKLOGUHQ ZLWK KHDOWK SUREOHPV

 SURYLVLRQV RI SUHQDWDO FDUH ZLOO UHVXOW LQ ORZHU PHGLFDO

 H[SHQGLWXUHV IRU WKH DIIHFWHG FKLOGUHQ LQ WKH ORQJ UXQ DQG

 L $GRSWLQJ IHGHUDO ODZ WR SURYLGH IRU PHGLFDO VHUYLFHV

 UHODWHG WR XQERUQ FKLOGUHQ EHIRUH ELUWK ZLOO UHVXOW LQ KHDOWKLHU

 LQIDQWV EHWWHU ORQJWHUP FKLOG JURZWK DQG GHYHORSPHQW DQG

 XOWLPDWH FRVW VDYLQJV WR WKH VWDWH WKURXJK UHGXFHG H[SHQGLWXUHV IRU

 KLJK FRVW QHRQDWDO DQG SRWHQWLDO ORQJWHUP PHGLFDO UHKDELOLWDWLRQ


/%  /% 

  6XFK FRYHUDJH VKDOO EH LPSOHPHQWHG WKURXJK WKH

 FUHDWLRQ RI D VHSDUDWH SURJUDP DV DOORZHG XQGHU 7LWOH ;;, RI

 WKH IHGHUDO 6RFLDO 6HFXULW\ $FW DV DPHQGHG DQG  &)5 

 VROHO\ IRU WKH XQERUQ FKLOGUHQ RI PRWKHUV ZKR DUH LQHOLJLEOH IRU

 FRYHUDJH XQGHU 7LWOH ;,; RI WKH IHGHUDO 6RFLDO 6HFXULW\ $FW $OO

 RWKHU DVSHFWV RI WKH PHGLFDO DVVLVWDQFH SURJUDP UHODWLQJ WR WKH

 6WDWH &KLOG +HDOWK ,QVXUDQFH 3URJUDP UHPDLQ D PHGLFDLG H[SDQVLRQ

 SURJUDP DV GHILQHG LQ  &)5  ,I DV D FRQGLWLRQ RI

 UHFHLYLQJ IHGHUDO IXQGV IRU WKH SURJUDP IHGHUDO ODZ UHTXLUHV

 LPSOHPHQWDWLRQ DQG DGPLQLVWUDWLRQ RI WKH SURJUDP LQ D PDQQHU

 QRW SURYLGHG LQ WKH 0HGLFDO $VVLVWDQFH $FW WKH GHSDUWPHQW VKDOO

 LPSOHPHQW DQG DGPLQLVWHU WKRVH SURYLVLRQV VXEMHFW WR UHYLHZ E\ WKH

 /HJLVODWXUH

  7KH EHQHILWV SURYLGHG SXUVXDQW WR WKLV VXEGLYLVLRQ

 VKDOO EH SUHQDWDO FDUH DQG SUHJQDQF\UHODWHG VHUYLFHV FRQQHFWHG

 WR WKH KHDOWK RI WKH XQERUQ FKLOG LQFOXGLQJ D 3URIHVVLRQDO

 IHHV IRU ODERU DQG GHOLYHU\ LQFOXGLQJ OLYH ELUWK IHWDO GHDWK

 PLVFDUULDJH DQG HFWRSLF SUHJQDQF\ E SKDUPDFHXWLFDOV DQG

 SUHVFULSWLRQ YLWDPLQV F RXWSDWLHQW KRVSLWDO FDUH G UDGLRORJ\

 XOWUDVRXQG DQG RWKHU QHFHVVDU\ LPDJLQJ H QHFHVVDU\ ODERUDWRU\

 WHVWLQJ I KRVSLWDO FRVWV UHODWHG WR ODERU DQG GHOLYHU\ J

 VHUYLFHV UHODWHG WR FRQGLWLRQV WKDW FRXOG FRPSOLFDWH WKH SUHJQDQF\

 LQFOXGLQJ WKRVH IRU GLDJQRVLV RU WUHDWPHQW RI LOOQHVV RU PHGLFDO

 FRQGLWLRQV WKDW WKUHDWHQ WKH FDUU\LQJ RI WKH XQERUQ FKLOG WR IXOO

 WHUP RU WKH VDIH GHOLYHU\ RI WKH XQERUQ FKLOG DQG K RWKHU


/%  /% 

 SUHJQDQF\UHODWHG VHUYLFHV DSSURYHG E\ WKH GHSDUWPHQW 6HUYLFHV

 QRW FRYHUHG XQGHU WKLV VXEVHFWLRQ LQFOXGH GHQWLVWU\ RSWRPHWU\

 DQG RWKHU PHGLFDO LVVXHV VHSDUDWH WR WKH PRWKHU DQG XQUHODWHG WR

 SUHJQDQF\

  7KH GHSDUWPHQW VKDOO UHFHLYH WKH VWDWH DQG IHGHUDO

 IXQGV DSSURSULDWHG RU SURYLGHG IRU EHQHILWV SURYLGHG SXUVXDQW WR

 WKLV VHFWLRQ :LWKLQ WKLUW\ GD\V DIWHU WKH HIIHFWLYH GDWH RI WKLV

 DFW WKH GHSDUWPHQW VKDOO VXEPLW D VWDWH SODQ DPHQGPHQW RU ZDLYHU

 IRU DSSURYDO E\ WKH IHGHUDO &HQWHUV IRU 0HGLFDUH DQG 0HGLFDLG

 6HUYLFHV WR SURYLGH FRYHUDJH XQGHU WKH PHGLFDO DVVLVWDQFH SODQ WR

 SHUVRQV HOLJLEOH XQGHU WKLV VHFWLRQ

  (OLJLELOLW\ VKDOO EH GHWHUPLQHG XQGHU WKLV VHFWLRQ

 XVLQJ DQ LQFRPH EXGJHWDU\ PHWKRGRORJ\ WKDW GHWHUPLQHV FKLOGUHQ¶V

 HOLJLELOLW\ DW QR JUHDWHU WKDQ RQH KXQGUHG HLJKW\ILYH SHUFHQW RI

 WKH 2IILFH RI 0DQDJHPHQW DQG %XGJHW LQFRPH SRYHUW\ JXLGHOLQH

 6HF  2ULJLQDO VHFWLRQV  DQG  5HLVVXH

 5HYLVHG 6WDWXWHV RI 1HEUDVND DQG VHFWLRQ  5HYLVHG 6WDWXWHV

 6XSSOHPHQW  DUH UHSHDOHG

 6HF  6LQFH DQ HPHUJHQF\ H[LVWV WKLV DFW WDNHV HIIHFW

 ZKHQ SDVVHG DQG DSSURYHG DFFRUGLQJ WR ODZ



You might also like