UNANIMOUS CONSENT
OF THE
BOARD OF DIRECTORS
OF
SMALL CAP VALUE FUND, INC.

December 01, 2009

	The undersigned, being all of the members of the Board of Directors
(the ?Board?) of Small Cap Value Fund, Inc., a Texas corporation (the
?Corporation? or the ?Fund?), hereby consent to, approve and adopt the
following resolutions, which resolutions shall have the same force and effect
as if adopted at a formal meeting of the Board duly called and held for the
purpose of acting upon proposals to adopt such resolutions.

Approval of form and amount of Fidelity Bond

        RESOLVED, that the Fund?s Mutual Fund Bond Insurance Policy with
Great American Insurance Company will be renewed and that it surpasses
the requirements pursuant to Rule 17g-1 of the Investment Company Act
of 1940.  The Bond will be effective at 12:01 a.m. on December 26, 2009
to 12:01 a.m. on December 26, 2010.  This Bond continues coverage from
expiration of the last Policy, which expires on December 26, 2009 and
is from the same Insurer.

Distribution of all Net Income and Net Capital Gains for 2009

          RESOLVED, that the Fund will pay a distribution on or before
12/31/2009 representing all net income and net capital gains for 2009.


	IN WITNESS WHEREOF, the undersigned have subscribed their names as of
the date set forth above, in attestation to the accuracy of the foregoing
unanimous written consent and of their approval of each action set forth
above.


		By /s/:	Laura S. Adams

		By /s/:	Vicky L. Hubbard

		By /s/:	Yolawnde F. Malone

		By /s/:	Melissa D. Gordon, M.D.