Note 9. Surplus Notes

The following provides a summary of the Company's surplus notes along with issue dates, maturity dates, face amounts, and interest rates as of September 30, 2015:

Creditor	Issue Date	Maturity Date	Face Amount		Interest Rate
David G. Elmore	September 1, 2006	September 1, 2016	$	250,000	7%
David G. Elmore	August 4, 2011	August 1, 2016		300,000	5%

Any payments and/or repayments must be approved by the Arizona Department of Insurance. As of September 30, 2015, the Company has accrued $221,218 of interest expense under accounts payable and accrued expenses on the consolidated balance sheet. No payments were made in the nine months ending September 30, 2015, or during the year ended December 31, 2014.