What date is this Power of Attorney document for Alloy signed, sealed, and certified?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
This Power of Attorney is signed, sealed and certified by facsimile under and by authority of the following resolution adopted by the unanimous consent of the Board of Directors of the Company on August 31, 2022:
VOTED, That the signature of the Chairman of the Board, the President, or the Executive Vice President, or any Senior Vice President, of the Surety Business Division, or their appointees designated in writing and filed with the Secretary, and the signature of the Secretary, the seal of the Company, and certifications by the Secretary, may be affixed by facsimile on any power of attorney or bond executed pursuant to the resolution adopted by the Board of Directors on August 31, 2022, and any such power so executed, sealed and certified with respect to any bond or undertaking to which it is attached, shall continue to be valid and binding upon the Company. In Testimony Whereof, the Company has caused this instrument to be signed and its corporate seal to be affixed by their authorized officers, this 7th day of MSurance April, 2023.
CORPORATE SEAL
Attested and Certified
Regan A. Shulman, Secretary
STATE OF PENNSYLVANIA SS COUNTY OF PHILADELPHIA SS
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
According to Alloy's 2025 Franchise Disclosure Document, the Power of Attorney document is signed and sealed on April 7, 2023. The certification of this document by Regan A. Shulman, the Secretary of the Arch Insurance Company, occurred on April 8, 2024.
This Power of Attorney authorizes specific individuals to act on behalf of Arch Insurance Company, particularly concerning surety bonds. It's important to note that the authority granted is limited to the specific bonds and undertakings mentioned within the document. This means that the attorneys-in-fact cannot bind the company beyond what is explicitly stated in the Power of Attorney.
For a prospective Alloy franchisee, this information is relevant because it confirms the legitimacy and scope of authority for individuals representing Arch Insurance Company, especially concerning any surety bonds required for the franchise. Understanding the dates and limitations ensures that any dealings with these representatives are valid and within their authorized capacity.