Dairy Lab Services Inc

“The President of the Board only votes when there is a tie.”

“The Organization was dissolved, and the dissolution was approved by a sufficient vote of the Board of Directors. The Articles of Dissolution were filed with the Iowa Secretary of State.”

“All producers of agricultural products are eligible to become voting members of this corporation. Any producer becomes a member when the following three conditions have been met: The producer has on file a valid membership agreement with the corporation; The producer has purchased products or services from the organization; and The producer receives written notification of membership and a copy of the bylaws. No producer can hold more than one membership. Employees of Dairy Lab or its service affiliates are eligible for membership, if they meet the criteria for membership, but no employee of Dairy Lab or its service affiliates are eligible to serve as delegate or director. Memberships are not transferable.”

“The Organization only has one class of members. Any member in good standing may be elected to serve as a delegate to represent his/her region at the organization's annual meeting. It is these delegates that elect Directors for their respective regions to the governing body when there is a vacancy.”

“The general members that are serving as delegates to the Organization's annual meeting vote to approve the actions and decisions of the governing Board for the past year.”

“The Organization does not have committees with authority to act on behalf of the governing body.”

“The Form 990 is reviewed by the Organization's CFO, and a copy is emailed to each Member of the governing body before it is filed. If there are any discrepancies or concerns the governing body will meet and discuss them with the CFO.”

“The governing body holds a reorganization meeting after the organization's annual meeting to elect Officers for the new year. Any new Members of the governing body will receive their copy of the policy at this meeting, and the policy will be reviewed with everyone. At this time all Members will sign an acknowledgement form. If an issue comes before the Board throughout the year to approve a major purchase or contract for services, the Secretary will remind all Board Members of the policy and ask Members to disclose any conflicts before the Board votes on the matter. Any Member with a conflict would abstain from voting.”

“The Board of Directors sets the compensation for the CEO. They use an outside consultant with extensive knowledge of the industry to assist them with the performance review. The review is shared with the CEO and the Board authorizes pay adjustments with regard to cost of living and industry norms. The Board's discussion with the CEO regarding their salary is conducted in a closed session and as such is documented in the Executive session minutes for that date. The Board has granted the CEO the authority to determine the compensation for the CFO, but the Board periodically reviews the salary being paid to ensure it is appropriate. If the Board is comfortable with the salary set by the CEO the board does not have any discussions with the CFO. Any adjustments to the CFO's compensation are usually determined by cost of living and industry norms based on the job duties. The compensation process is completed annually.”

“The Organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“All laboratory testing operations were discontinued. The Organization was dissolved, and the dissolution was approved by a sufficient vote of the Board of Directors.”

“Distribution of assets upon dissolution -1,454,560.”