Professional Life Advisors Network Ltd

“The organization has two classes of membership. Brokerage general agencies ("bga") that wish to become members of professional life advisors network, ltd ("plan") must apply to plan's executive director for membership to plan. Plan's executive director collects information from bga's that desire to become members of plan, including information on why the bga is interested in becoming a member of plan to plan's board of directors. Plan's board of directors then decides, in its discretion, whether the bga interested in becoming a member of plan should be admitted to plan as a member. Plan proudly has 30 bga members. A bga, upon becoming a member of plan, pays an initial membership fee of $7,500 and thereafter, a membership fee of $1,000 per quarter (or $4,000 per year) to maintain its status as a member of plan. Bga's have voting rights with respect to plan as specified in plan's by-laws and under the laws of the state of north carolina, plan's state of incorporation. Insurance carriers are also members of plan. Insurance carriers are referred to as associate members and they have no voting rights with respect to plan. Similar to plan's bga members, plan's associate members are vetted through plan's executive directors and board of directors. Associate members pay plan a membership fee of $50,000 per year. In exchange, plan's associate members are permitted to particpate in plan's weekly conference calls and webinars and in its biannual meetings. Plan's associate members usually participate by providing educational sessions to plan's bga members and have the ability to interact and network with and learn from all of plan's members.”

“The brokerage general agency ("bga") members of the organization elect the board of directors. Members of the board of directors must be members of the organization.”

“Each member shall, at every meeting, be entitled to one vote in person or by proxy upon each subject properly submitted to vote.”

“Professional life advisors network, ltd ("plan")'s form 990 was prepared by an outside accounting firm. A copy of plan's form 990 will be provided to plan's board of directors prior to filing the form with the internal revenue service.”

“The executive director of plan and its board of directors are continually monitoring the business and are actively engaged on a daily basis. If a potential conflict of interest is identified or reported, the executive director, in conjunction with the board, reviews the situation, gathers information, performs an investigation, and makes a determination regarding whether there is a conflict of interest, and if so, the action to be taken to address, mitigate, and eliminate the conflict.”

“The compensation for the executive director is determined by the board of directors annually.”

“The organization's articles of incorporation are available to the public via the north carolina department of the secretary of state's website. Financial information for the organization is made available to the public via this form 990, as the organization does not obtain audited financial statements. The organization's form 990 is also available as requested, in compliance with the public disclosure requirements of section 6104 of the internal revenue code.”