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|Exhibit 10.23
ASSIGNMENT
THIS
ASSIGNMENT (the Assignment) is made and entered into effective the 28th day of December,
2006, by and between SOUTHERN SECURITY LIFE INSURANCE COMPANY, a Florida corporation (SSLIC),
and SECURITY NATIONAL LIFE INSURANCE COMPANY, a Utah corporation (SNLIC) (collectively,
the Parties).
WITNESSETH:
WHEREAS,
on December 12, 2005, SSLIC and SNLIC entered into an Agreement and Plan of Complete Liquidation
of SSLIC (the Agreement), pursuant to which SSLIC would be liquidated into SNLIC in essentially
the same manner as the liquidation described in the Internal Revenue Service Private Letter Ruling
9847027 in order to achieve the same tax treatment and consequences under Section 332 of the Internal
Revenue Code of 1986, as amended, and other applicable provisions described in said Letter Ruling; and
WHEREAS,
in order to complete the liquidation of SSLIC and the transfer of its business to SNLIC under the
terms of the Agreement, SNLIC and SSLIC entered into a Coinsurance Agreement dated December 31, 2005,
in which SNLIC became primarily liable for the liabilities of SSLIC on insurance contracts and annuities
issued by SSLIC to its policyholders, and SSLIC transferred assets to SNLIC having a fair market
value equal to the assumed liabilities; and
WHEREAS,
SSLIC and SNLIC desire to enter into an Assignment to transfer and distribute to SNLIC all of SSLICs
remaining assets, except that the assets to be transferred hereunder shall not include certain retained
assets described in Exhibit A to this Assignment (the Retained Assets), a
copy of which is attached hereto as Exhibit A and by this reference made a part hereof,
such Retained Assists to consist of SSLICs corporate charter, insurance licenses, and capital
and surplus, including cash and bonds, necessary to preserve SSLICs corporate existence;
NOW,
THEREFORE, in consideration of the mutual promises, agreements and covenants contained herein, and
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the Parties hereto agree as follows:
1.
            Except for the Retained Assets
only, SSLIC hereby assigns, transfers and conveys to SNLIC all of SSLICs rights, titles and
interests in and to all of its assets of every kind and nature whatsoever, including without limitation
the following: (i) cash reserved for the payment of certain liabilities and obligations of SSLIC,
including advanced premiums, suspense items on insurance policies, and escheate obligations; (ii)
furniture and equipment, including computer hardware and software; (iii) a stock certificate in the
amount of 4,681 shares of common stock of Memorial Insurance Company of America, representing all
of the issued and outstanding capital stock of Memorial Insurance Company; (iv) prepaid deposits;
(iv) accrued investment income; (v) reinsurance and other receivables; (vi) agent balances; (vii)
business and other operational licenses (except for insurance licenses); (viii) maintenance agreements;
(ix) rights to transact business in the name of Security National Life Insurance Company and Southern
Security Life Insurance Company; (x) accounting and other records; (xi) leases and contract rights;
(xii) insurance policies; and (xiii) any and all other real and personal property.

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|2.
            SNLIC hereby assumes any
and all liabilities of SSLIC in an amount not to exceed the capital and surplus of SSLIC as of December
31, 2006;
3.
            SSLIC also hereby assigns,
transfers and conveys to SNLIC all of its rights in and to the name of Southern Security Life Insurance
Company and permits SNLIC to immediately assume and use the name of Southern Security Life Insurance
Company.
4.
            This Assignment may be modified
or amended only in writing duly executed by each of the Parties.
5.
            This Assignment shall be
governed and construed and enforced in accordance with the laws of the State of Utah (without regard
to the principles of conflicts of law) applicable to a contract executed and performable in such
state.
6.
            This Assignment is binding
upon and will inure to the benefit of the Parties and their respective successors and permitted assigns.
7.
            Neither this Assignment nor
any right or obligation herein or part hereof may be assigned by any party hereto with the prior
written consent of the other party hereto (and any attempt to do so will be void).
8.
            This Assignment may be executed
simultaneously in counterparts, each of which will be deemed an original, but all of which, when
taken together, will constitute one and the same instrument.
IN
WITNESS WHEREOF, each of the Parties hereto, intending to be legally bound hereby, has duly executed
this Assignment as of the date first above written.
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| | SOUTHERN SECURITY LIFE INSURANCE COMPANY      
| |                                               
| |                                               
| | By:_________________________________________  
| | Its: _________________________________________
| |                                               
| | SECURITY NATIONAL LIFE INSURANCE COMPANY      
| |                                               
| |                                               
| | By:_________________________________________  
| | Its: _________________________________________

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