Internal Control Questionnaires and Verification Procedures

Policies and Objectives

1. Has the board of directors, consistent with its duties and responsibilities, adopted written direct lease financing policies that:

   1. Establish procedures for reviewing direct lease financing applications?

   2. Define qualified property?

   3. Establish minimum standards for documentation?

2. Are direct lease financing policies reviewed at least annually to determine if they are compatible with changing market conditions?

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