International Association

of Commercial Collectors, Inc.

Certificate of Compliance

THIS IS TO CERTIFY

Williams & Williams, Inc.

of

Louisville, Kentucky

is a member of the International Association of Commercial

Collectors, Inc., the largest commercial agency group in the world.

Membership was granted during

1986

This agency abides by our Code of Ethics

and meets our bonding requirements.

The following code of ethics is hereby made a part of the bylaws of the International Association of Commercial Collectors, Inc. and shall be binding upon all members. The Ethics Committee shall use this code to determine the responsibilities of the members of this association.

The Ethics Committee shall be comprised of the board of directors, or such special committee as designated by the president of this association for such special instances as is necessary.

Any member of the International Association of Commercial Collectors, Inc., including any agency affiliated with said member, found guilty of violating this code in the judgment of the Ethics Committee, and up to review by the board of directors, may be expelled, suspended or reprimanded as decided.

Any member disciplined by the Ethics Committee shall have the right to appeal at the next meeting of the board. A majority vote of the directors present at such meeting shall be conclusive and final.