Montgomery Business Development Corporation

“No formal committee meetings have been conducted, but they will be documented when they occur.”

“Along with management, the chairman and treasurer of the board review the full form 990 to verify balances and that the information is accurate. All other board members are given the opportunity to review the 990 before it is issued.”

“Any director, officer, employee, or committee member having an interest or economic interest (as defined in section 19a-4(j) of the county code or any successor provision) in a contract or other transaction or determination presented to the board of directors or a committee of the corporation for recommendation, authorization,approval or ratification shall give prompt, full and frank disclosure of his or her interest to the board of directors or committee prior to its acting on such contract or transaction or determination. The body to which such disclosure is made shall thereupon determine,by majority vote, whether the disclosure shows that a conflict of interest exists or can reasonably be construed to exist. If a conflict is deemed to exist, such person shall not vote on, nor use his or her personal influence on, nor participate (other than to present factual information or to respond to questions) in the discussions or deliberations with respect to such contract, transaction or determination. Such person may not be counted in determining the existence of a quorum for purposes of any vote on such contract,transaction or determination. The minutes of the meeting shall reflect the disclosure made, the vote thereon and, where applicable the abstention from voting and participation, and whether a quorum was present.”

“The board reviews and approves the compensation of the organization's ceo and employees but the organization has no ceo or employees at this time, so these questions are not applicable.”

“Information is available upon request.”