Adoption of Bylaws and Organization

INSTITUTE FOR BIBLICAL RESEARCH, INC.

Unanimous Written Action by Directors

in Lieu of Organizational Meeting

November 19, 2004

The undersigned, all of the members of the initial Board of Directors of the Institute For Biblical Research, Inc. (the "Corporation"), pursuant to Section 108(c) of the Delaware General Corporation Law and in lieu of an organizational meeting of the Board of Directors, take, and consent to the taking of, the following actions:

1. They adopt the bylaws prepared by Frost Brown Todd LLC, counsel for the Corporation, and direct the Secretary of the Corporation upon his or her election at the organizational meeting of the members of the Corporation to cause a copy of those bylaws, certified by him or her, to be inserted in the corporate record book.

2. They elect the persons listed on schedule A as Fellows of the Corporation.

3. They elect the persons listed on schedule B as Senior Fellows of the Corporation.

4. They elect the persons listed on schedule C as Associates of the Corporation.

5. They elect the persons listed on schedule D as Friends of the Corporation.

6. They adopt the following resolution:

RESOLVED, that

(a) The Bank of Texas, of Dallas, Texas, and Farmers State Bank, of Warsaw, Indiana (together, the "Bank") are designated as depositories of funds of the Corporation.

(b) All prior resolutions granting authority to withdraw funds from the account of the Corporation with the Bank are rescinded.

(c) The Treasurer of the Corporation is authorized to sign checks on the accounts of this Corporation with the Bank and the Bank is authorized to pay and charge to the Corporation's accounts checks signed by him or her in his or her capacity as Treasurer.

(d) If and to the extent the Bank requires specific printed-form corporate resolutions reflecting its designations as a depository of the Corporation's funds, those resolutions are hereby adopted to the extent they are consistent with the preceding paragraphs of this resolution, and the Secretary of the Corporation is authorized and directed to certify those resolutions and place a copy of his certificate in the corporate record book.

(e) The Bank is authorized to rely upon this resolution until the Bank has received written notice of any amendment to or rescission of the resolution.

6. They adopt the following resolution:

RESOLVED, that

The proper officer(s) of the Corporation are hereby authorized and directed to execute all such documents or instruments as may be necessary or required to accept certain assets or assume certain obligations of Institute For Biblical Research, a Texas unincorporated nonprofit association, which that organization has agreed to transfer to the Corporation.

7. They adopt the following resolution:

RESOLVED, that

The proper officer(s) of the Corporation are hereby authorized and directed to file with the Internal Revenue Service a Form 1023, Application for Recognition of Exemption, and all such other documents or instruments as may be required by any federal or state authority to perfect the Corporation's status as a 501(c)(3) tax-exempt organization.

Daniel I. Block

Michael W. Holmes

Richard A. Taylor