Article I — Purpose
Article II — Definitions
Compensation includes direct and indirect remuneration as well as gifts or favors.
A financial interest is not necessarily a conflict of interest. A person who has a financial interest may have a conflict of interest only if the board or executive committee decides that conflict of interest exists, in accordance with the policy.
Article III — Procedures
Article IV – Records of Proceedings
The minutes of the board and all committees with board delegated powers shall contain:
Article V – Compensation
Article VI – Annual Statements
Each voting member of the board shall annually sign a statement which declares whether such person is an independent director.
Article VII –Annual Reviews
To ensure MLA operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The annual reviews shall, at a minimum, include the following subjects:
Article VIII – Use of Outside Experts
When conducting the periodic reviews as provided for in Article VII, MLA may, but need not, use outside advisors. If outside experts are used, their use shall not relieve the board of its responsibility for ensuring periodic reviews are conducted.
Adopted June 21, 2017