BC 2012 12 03 Recessed Meeting - Laserfiche WebLink

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December 3, 2012 (Recessed Meeting) Page 1325 cannot feel comfortable (inaudible) with the information. And there it's already been said, it was not disclosed. Small: Well actually, what he says is he's not certain. He doesn't know. If this is going to be an additional requirement of the board, I would just ask the board give us an opportunity to investigate this particular question. It wasn't a question on either of the applications for Penn National or Liberty Mutual. If the board is making an additional requirement, it is only fair that we get an opportunity to make the inquiry - to get the assurances that the board is asking. Poole: Well we do have a motion on the table and we do have a second. Yes, sir? Burrage: Well, his agent's outside now trying to get an answer. We gonna sit here and vote against something we may - he may come back and everything be okay. Personally, I believe in a God of second chance. And I don't hold against a man what he done in the past. What I look to is what he does in the future. And to sit here and try to railroad this man over something that is in the past that was probably - the people who brought this thing against him is probably as guilty as he is. And a bunch of people sitting in Raleigh trying to make decisions against somebody, I don't trust them either and to sit here and just say... You know the man won the election and to not give him a chance to get the thing straightened out is totally unfair as far as I'm concerned. Poole: Okay. Well we have a motion and we have a second on the table. So is there any other discussion? Carruth: What if it, I mean depending on how long is it going to be to get an answer back - do we wait, could we recess for a few minutes while we're waiting on him to come back? Poole: I can tell you is that we have a motion and we have a second. White: We can certainly wait and see what the answer is - if we can get an answer. Measmer: There will still have to be something in writing. White: Yeah. Cash: We have an underwriter on the phone currently and she's trying to figure out what kind of proof she can fax over to us per her supervisor. We're just on hold at this time. White: (Inaudible) just to find out what the decision - Cash: I mean it sounded like it would be something very quick, she's on the phone right now. Poole: Can you tell us what you, what information concerning this issue you shared with the person on the phone? Cash: I did. I shared that the bond has been not issued through another company and were we going to have any issues with professional licensing being suspended for the law license. She said, you know, the bond has been issued - I don't know and I don't know what kind of proof I can get to you. So she's working now with her supervisor to figure out what kind of proof she can get to us. White: Did you let the person know that if they wanted to do due diligence on anything regarding the knowledge of a prior bond or any issues regarding the suspension of the license - let or help them understand where to find it if they had to look at it? Cash: Well, you know when I look at the - no, I didn't because I don't know. I don't know I don't know. I wouldn't know where to guide them to do that. But you know - White: Well I mean - Cash: Excuse me just a second. (On the phone) Cash: I just spoke with the underwriter and they said they won't issue a letter stating that they're okay with the suspension of his license, simply because underwriters don't do that. But the bond has been approved and issued and they've done their due diligence on the bond. Poole: We can wait just a minute, Commissioner Burrage stepped out (inaudible). Koch: Where is Mr. Burrage? Poole: No idea. Poole: (Inaudible) back, would you read - repeat what you said cause I want to make sure that Commissioner Burrage heard you. Cash: Sure, when I was speaking with the underwriter from Liberty Mutual Surety she just told me that they wouldn't issue a letter saying that they were okay with the suspension of licensing; however, the bond has been issued and they have done their due diligence on it. They're just not going to issue a letter outside of - of the bond. And it sounded, when I spoke with her, that it was just the liability issues from her - that their supervisor wasn't comfortable issuing that in writing. That - they issued the bond. Small: But what you are saying is that she has the information and she is still okay with the bond, given the information that you gave her. Cash: Correct. Burrage: In other words, the bond they issued is legal. Cash: The bond they issued is legal.