Panama Poultry Export Quota Inc

“Pan-peq's officers or board directors may have business relationships with other officers or directors due to the nature of pan-peq's operations. Pan-peq administers open tender processes in which u.s. Based companies bid for the rights to chicken leg quarter quotas to be imported duty free into panama by importers. The u.s. And panama poultry industries are represented on the board by directors from companies in the poultry business. Pan-peq's officers and directors must act in accordance with pan-peq's export trade certificate of review (etcr) issued by the u.s. Department of commerce and reviewed by the u.s. Department of justice. Pan-peq must also comply with u.s. Internal revenue service provisions governing 501 (c)(6) entities as well as its corporate bylaws and articles of incorporation. Pan-peq's open tender mechanism ensures the transparency of the bid process since the system is administered by an independent third party and auction results are audited externally. The complete audit results are sent to the participating governments and consolidated results are made available to the member poultry associations, and to the public on the pan-peq website.”

“The board of directors has retained dtb associates, llp as the independent administrator to conduct day-to-day operations of the company under their supervision. These operations include conducting open-tender auctions, cash management of auction proceeds, coordination of board meeetings, and financial and corporate recordkeeping.”

“Pan-peq is a non-stock corporation and therefore has members.”

“Pan-peq has 2 members. The united states member holds three seats on the board and the panamanian member holds three seats on the board.”

“The members elect a board of directors for a term of two calendar years and officers annually. Following these elections all decisions regarding company issues are made by the board of directors.”

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

“Two elected officers (secretary and treasurer) will review this form 990 to ensure it accurately reflects the audited financial statements of the corporation.”

“The independent, professional administrators retained by the corporation routinely monitor board agenda items relating to each area encompassed by the conflict of interest policy to determine if there is the possibility that any director may have an interest in decisions on such matters.”

“All documents are available upon request. In addition, the form 990 for pan-peq can be viewed at all times on guidestar.”