Minnesota Utility Investors Inc

“The executive committee consists of the president, the treasurer and the secretary, as well as such other management person as the president shall appoint, plus two (2) directors chosen by the president. The executive committee has and may exercise, when the board is not in session, all of the powers vested in the board except action in respect of election of officers of the filling of vacancies in the board or the executive committee.”

“The organization has two classes of membership: regular members and associate members. Regular members are persons who directly or indirectly have a beneficial interest in the securities of an investor-owned minnesota energy utility company or any of its affiliated interests, who also contribute dues in an amount determined by the board. Associate members consist of corporations, associations and foundations and other similar organizations, which have a direct or indirect interest in the energy utility industry or the general business climate in minnesota, who contribute dues annually in an amount determined from time to time by the board of directors, or alternatively contribute services annually in an amount equal to the amount of such dues.”

“The board, by the affirmative vote of two-thirds (2/3) of the directors, may make additional bylaws for the corporation and may from time to time alter and amend these bylaws subject to the power of the regular members to alter, amend or repeal any bylaws.”

“The form 990 is sent to the mui board of directors and given the opportunity to review it prior to filing with the irs.”

“The organization makes its governing documents and financial statements available to the public upon request. The organization does not have a conflict of interest policy at this time.”

“The organization uses a modified cash basis of accounting. Revenues are recognized when received rather than when earned and certain expenses are recognized when cash is disbursed rather than when the obligation is incurred. The organization records dues income and alliance of utility shareholder associations (ausa) reimbursements under the accrual basis as these items are deferred and recognized as revenue in the year they are associated or when the related expenses are incurred.”