Middle Tennessee Electric

“There is only one class of members. All members have the right to elect the members of the Board of Directors (the governing body of MTEMC).”

“There is only one class of members, and all members may vote to fill vacancies on the Board of Directors. Directors must be members and are elected based on geographical locations as stated in the bylaws. Directors serve three year terms.”

“The bylaws may be altered, amended, or repealed by the members.”

“Committees do not keep minutes of their meetings; however, they bring all recommendations to the full board for action.”

“The Form 990 is reviewed by the full Board of Directors.”

“MTEMC has several policies that address conflicts of interest. These policies apply to directors and employees, and are renewed on an annual basis. Employees are to report conflicts of interest to their supervisors. When family members of directors or employees seek to do business with MTEMC, sealed bids are required. The Board of Directors is responsible for resolving any disputes concerning conflicts of interest. This policy applies to the disregarded entity.”

“Compensation of the President is determined by annual review made by the performance and appraisal committee. The committee's recommendation is given to the full board for approval. The evaluation includes salary comparability data. Board approval is documented in the minutes. This policy applies to the disregarded entity.”

“The Cooperative's bylaws and rules and regulations are made available on our website. Governing documents, conflicts of interest policy(s), and financial statements are available to our members upon request. Summarized financial information is published annually in the Tennessee Magazine.”

“Net margins assigned to members 55,155,877. Change in other comprehensive income 233,120. Net margins attributable to the noncontrolling interest 46,645. Noncontrolling interest at year-end -746,111.”