What positions within the company have the power to appoint agents and attorneys-in-fact for Alloy?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
This Power of Attorney is executed by authority of resolutions adopted by unanimous consent of the Board of Directors of the Company on August 31, 2022, true and accurate copies of which are hereinafter set forth and are hereby certified to by the undersigned Secretary as being in full force and effect:
"VOTED, That 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, or the Secretary shall have the power and authority to appoint agents and attorneys-in-fact, and to authorize them subject to the limitations set forth in their respective powers of attorney, to execute on behalf of the Company, and attach the seal of the Company thereto, bonds, undertakings, recognizances and other surety obligations obligatory in the nature thereof, and any such officers of the Company may appoint agents for acceptance of process "
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 April, 2023. gurance
CORPORATE
Attested and Certified
Regan A. Shulman, Secretary
STATE OF PENNSYLVANIA SS COUNTY OF PHILADELPHIA SS Arch Insurance Company
Stephen C. Ruschak, Executive Vice President
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
According to Alloy's 2025 Franchise Disclosure Document, the power to appoint agents and attorneys-in-fact lies with specific positions within the company. These positions include the Chairman of the Board, the President, or the Executive Vice President. Additionally, any Senior Vice President of the Surety Business Division, or their appointees designated in writing and filed with the Secretary, or the Secretary also hold this authority. This authorization is based on resolutions adopted by unanimous consent of the Board of Directors on August 31, 2022.
These individuals can authorize agents and attorneys-in-fact to execute bonds, undertakings, recognizances, and other surety obligations on behalf of Alloy, attaching the company seal as necessary. They are also empowered to appoint agents for acceptance of process. This delegation of authority is subject to the limitations outlined in the respective powers of attorney granted to these agents and attorneys-in-fact.
The document also specifies that the signatures of the Chairman of the Board, the President, the Executive Vice President, or any Senior Vice President of the Surety Business Division, or their appointees, along with the signature of the Secretary, the company seal, and certifications by the Secretary, can be affixed by facsimile on any power of attorney or bond. This ensures that any power executed, sealed, and certified in this manner remains valid and binding upon Alloy.