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UNITED
STATES
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SECURITIES
AND EXCHANGE COMMISSION
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WASHINGTON,
D.C. 20549
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FORM
8-K
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CURRENT
REPORT
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Pursuant
to Section 13 or 15(d) of
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the
Securities Exchange Act of 1934
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Date
of Report (Date of Earliest Event Reported) June 20,
2008
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NATIONAL
WESTERN LIFE INSURANCE COMPANY
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(Exact
Name of Registrant as Specified in Its Charter)
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COLORADO
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84-0467208
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(State
or Other Jurisdiction of Incorporation)
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(I.R.S.
Employer Identification Number)
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2-17039
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(Commission
File Number)
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850
EAST ANDERSON LANE, AUSTIN, TEXAS
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78752-1602
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(Address
of Principal Executive Offices)
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(Zip
code)
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(512)
836-1010
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(Registrant's
Telephone Number, Including Area Code)
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Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
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o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act
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(17
CFR 240.14d-2(b))
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o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act
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(17
CFR 240.13e-4(c))
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Item
5.05 Amendments to the Registrant’s Code of Ethics, or Waiver of a
Provision of the Code of Ethics.
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National
Western Life Insurance Company (the “Company”) maintains a written Code of
Ethics and Conduct, approved by the Company’s Board of Directors, which
prescribes various policies of conduct including the avoidance of
activities having the appearance of being, or subject to being construed
to be, a conflict with the interests of the Company.
On
June 20, 2008, the Company’s Board of Directors authorized management of
the Company to enter into discussions and negotiations with Moody National
Bank (“MNB”) concerning various potential transactions
including:
● opportunities
for further using various banking services of MNB. Company management was
given authority by the Board of Directors to negotiate, enter into, and
execute contracts with MNB and was instructed to make certain that all
negotiations and transactions be conducted at arm’s length, that all
services to be provided be within the capacity of MNB to adequately
administer, and that charges for such services be fair, competitive, and
reasonable to the Company; and
● a
short-term lease of the Company’s vacant property located at 860 East
Anderson, Austin, Texas, to MNB at a commercially reasonable rate. Company
management was given authority by the Board of Directors to execute an
appropriate lease agreement, subject to the approval of the Audit
Committee of the Board of Directors, and was instructed to make certain
that all negotiations concerning the lease agreement be conducted at arm’s
length incorporating lease terms fair and reasonable to the
Company.
The
Company holds a common stock investment totaling approximately 9.4% of the
issued and outstanding shares of Moody Bancshares, Inc. at December 31,
2007. Moody Bancshares, Inc. owns 100% of the outstanding shares of Moody
Bank Holding Company, Inc., which owns approximately 98% of the
outstanding shares of MNB. Robert L. Moody, Chairman of the Board and
Chief Executive Officer of the Company holds similar positions with MNB.
Robert L. Moody and other members of the Board of Directors related to Mr.
Moody abstained from the voting on adoption of these
resolutions.
A
copy of the Company’s Code of Ethics and Conduct is available on the
Company’s website at www.nationalwesternlife.com.
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SIGNATURE
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Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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NATIONAL
WESTERN LIFE INSURANCE COMPANY
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Date:
June 25, 2008
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/S/Brian
M. Pribyl
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Brian
M. Pribyl
Senior
Vice President
Chief
Financial & Administrative Officer
and
Treasurer
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