Hancock Physician Network LLC

“The organization is a member-managed llc; its members are hancock regional hospital and st. Vincent hospital and health care center, inc.”

“The members of the organization may elect officers of hancock physician network and authorize such officers to conduct matters for the organization.”

“Members appoint representatives to make decisions regarding the organization, but ultimate decision making remains with the member organizations. The following items require unanimous approval by all members: 1. Amending articles of incorporation, operating agreement or mission. 2. Authorizing the issuance of additional membership or increasing a member's interest in the member's organization. 3. Making a capital call more frequently than annually . 4. Incurring debt on behalf of the organization. 5. Selling, leasing, or transferring all or substantially all of the organization's assets. 6. Organizing, acquiring or disposing of an interest in a corporation, company or joint venture. 7. Allowing a new member into the organization. 8. Expanding the activities of the organization beyond the ownership and operation of primary care and behavioral health facilities. 9. Approving any agreement for the management of inpatient behavioral health services. 10. Approving the annual operating budget. 11. Hiring and evaluation of the organization's president. 12. Entering into, amending or terminating contracts involving capital calls and expenditures in excess of certain amounts. 13. Assigning rights of the organization or any property of the organization. 14. Taking any action that would constitute a breach or default of any agreements entered into by the organization. 15. Making decisions regarding deleting or consolidating the closure or consolidation of practice locations. 16. Approving compensation plans and modifications to such plans.”

“The organization's governing body does not have committees.”

“The hpn accounting manager and coo review the 990 in detail while working with tax preparer blue and co. Prior to filing, the form 990 and required supplemental schedules will be sent to all four board members for review.”

“The organization's governing documents & financial statements are available to the public upon request.”

“The hancock physician network's board of directors assumes responsibility for oversight of the audit of the financial statements and no processes have changed from prior year.”