Mortality has affected the board of a publicly traded life settlement company.
The managers of the Nasdaq Stock Market have warned Life Partners Holdings Inc., Waco, Texas, that the company is not meeting its audit committee requirements.
Life Partners is deficient because of the death of an independent director, Harry Goodall, a retired lieutenant general who once served as NATO air commander of the 117th Air Forces, the company says.
The Life Partners audit committee now has too few members, but the company says it expects to fill the vacancy with a new independent director.
Nasdaq rules give Life Partners until either its next annual shareholders’ meeting or Sept. 2, 2007, whichever comes first, to fill the vacancy, Life Partners says.