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Board approves UAB Health System operating accounts, signature authorities and standby letter of credit
Summary
The board authorized new operating accounts and signature authority for UAB Southview LLC and UAB St. Vincent's Orthopedics LLC, and permitted UAB Health System business authority to secure an irrevocable standby letter of credit up to $1,000,000 with Regions Bank.
The Board approved several UAB Health System administrative actions: establishment of new operating accounts at Regions Bank for UAB Southview LLC and UAB St. Vincent's Orthopedics LLC, assignment of signature authority to designated officers, and authorization for the health system to secure an irrevocable standby letter of credit for up to $1,000,000 using an operating account as collateral.
Dan Keith recommended the resolutions. The items name Dawn Bugarella and Susan Jennings as primary account officers for the proposed UAB Southview LLC account and assign signature authority to Don (or Dawn) Bugarella and Susan Jennings for related accounts. The transcript records the letter of credit limit as $1,000,000 and notes the health system obtains workers' compensation insurance through the Alabama Hospital Association fund; Keith recommended approval of all five health system items and trustees adopted them by voice vote.
The resolutions were presented together and approved; the board did not record a roll‑call tally in the verbal record. The transcript does not include contract documents or signature pages; the approvals delegate account setup and execution to UABHS business officers.
