Lake Region Corporation

“During the tax year, the organization amended its bylaws to change the number of members to at least 5 but not more than 9.”

“There is one class of members consisting of legally competent persons of good reputation residing in the town of Devils Lake.”

“The Board of Directors is elected at the annual membership meeting. There is one class of members and each member receives one vote. There is no membership fee.”

“There are no committees with the authority to act on behalf of the board.”

“The Executive Director and Business Manager will review the Form 990. The Board of Directors will receive a copy of the Form 990 prior to it being filed.”

“All board members are required to comply with the conflict of interest policy. Board members are responsible for bringing any potential conflicts to the attention of any remaining independent board members. In the event that the remaining board members determine that a conflict exists, the board member with a conflict refrains from voting and deliberating on issues pertaining to the conflict. Employees are also subject to a conflict of interest policy. Employees have an obligation to conduct business within guidelines that prohibit actual or potential conflicts of interest. The conflict of interest policy establishes a framework to provide employees with guidelines and general direction so they can seek further clarification on issues related to acceptable standards of operation. An employee who participates in an improper practice will be subject to disciplinary action up to and including possible immediate discharge and legal action.”

“The board of directors approves the Chief Executive Officer's compensation along with all other positions yearly based on an approved pay scale. The pay scales are increased to reflect the cost of living adjustments determined by the North Dakota Legislature.”

“The governing documents, conflict of interest policy, and financial statements are available upon request.”