Title Holdings Company

In April 2009, 8MBA Board of Directors formed a 501(c)(2) subsidiary organization for the purpose of acquiring property along Eight Mile. Our goal would be to aquire property and seek desirable development projects that enhance the business climate along the corridor. We are in the process of selecting a Board of Directors and finalizing our bylaws. We look forward to having this subsidiary operational in early 2010.

The Internal Revenue Service definition of a 501(c)(2) organization is provided below:

“Internal Revenue Code (IRC), section 501(c)(2) provides for recognition of exemption of title holding corporations which are organized for the exclusive purpose of holding title to property, collecting income from the property, and turning over the entire amount less expenses to a parent organization which is exempt under IRC section 501(a). section 1.501(c)(2)-1(b).”

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