Resolutions

The USTC AF designates the current treasurer to execute the process outlined below.

All stock shares received by the USTCAF go through a three-step process, getting ready to be sold, sell at a desired price set by the donor, then the final selling.

Step 1. Stock shares become ready for sale when all of the following conditions are met:

(a) The stock shares have been transfered to the USTCAF acccount.

(b) The estimated commission is no more than 10% of the stock value.

Step 2. After a stock become ready for sale, AND if the donor had NOT specified a desired price for the stock to be sold, SKIP this step.

(a) A limit order will be used to sell the stock.

(b) The price on the order will be the same price specified by the donor

(c) The order is entered on the first day the stock becomes ready to sell.

(d) The order is cancelled if it is not executed within 5 business days, or until the end of a Tuesday, whichever is LATER.

Step 3. The stock is then sold with the following method:

(a) A limit order will be used to sell the stock.

(b) The order is entered on the first Tuesday night, after market close.

(d) If the order is not executed, the limit of the order is revised daily after the close of market, using the closing price of that day, until the order is executed.