National Marine Lenders Association

“Regular members- consist of lending institutions associate members- consist of other (non-lending) institutions related to the marine industry”

“Regular members: elect and vote for board members for 3 year terms. 1/3 of board is elected each year. Associate members: elect and vote for one board member to speak for their interest on the board every 3 years.”

“Form 990 will be reviewed by the finance committee before filing.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. If a conflict is determined to exist the remaining board or committee members shall decide by majority vote whether the transaction or arrangement is in the organization's best interest or other more advantageous arrangements can be reasonably obtained. If the board determines that a member has failed to disclose actual or possible conflicts of interest, the member in question shall be informed of that fact and given the chance to explain their failure to disclose. The governing board will take the facts into consideration and determine an appropriate disciplinary and corrective action.”

“No documents available to the public”