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Note 6 - Subsequent Events
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Subsequent Events [Text Block]
Note
6
.
    
Subsequent Events
 
All of the effects of subsequent events that provide additional evidence about conditions that existed at the balance sheet date, including the estimates inherent in the process of preparing the consolidated financial statements, are recognized in the consolidated financial statements. The Company does
not
recognize subsequent events that provide evidence about conditions that did
not
exist at the balance sheet date but arose after, but before the consolidated financial statements are issued. In some cases, unrecognized subsequent events are disclosed to keep the consolidated financial statements from being misleading.
 
On
May 23, 2017,
the Company entered into a definitive
merger agreement with Northern Plains Capital Corporation. Northern Plains Capital Corporation shareholders received
.5841
shares of US Alliance Corporation stock for each share of Northern Plains stock that they owned. The merger closed on
July 31, 2017
with an  
August 1, 2017
effective date.
 
The Company has evaluated subsequent events through
August 4, 2017,
the date on which the consolidated financial statements were issued.