Petroleum & Convenience Marketers of Alabama Inc

“The organization is a nonprofit association with three classes of members (active, associate, and affiliate). Active members are actively engaged in the retail and wholesale distribution of petroleum products. Associate members are purveyors of equipment, services, and supplies and/or affiliated products used or purchased by petroleum marketers. Affiliate members are refiners and/or suppliers of petroleum products for resale, by wholesalers or petroleum marketers.”

“The elected officers and members of the board of directors are elected annually by the membership at the meeting of the organization. Active members are the only members with voting privilages. Therefore, active members elect the organization's governing body.”

“The board of directors may propose that bylaws be amended, altered, or repealed in whole or in part. Proposed changes shall be enacted (a) by a two-thirds vote of the active members of the organization. Proposed amendment shall be mailed to active members thirty days prior to meeting. Proposed changes shall be enacted (b) by approval of active members after a vote by mail where each active member is issued a ballot and is entitled to vote. A vote by mail must have two-thirds of the ballots returned to be declared a valid vote.”

“The president of the organization reviews form 990. A copy of the form is given to each member of the organization's finance committee prior to filing.”

“The organization's officers, directors and chief employed executive are required to disclose or update annually interests that could give rise to conflicts of interest.”

“The compensation of the president is reviewed and approved by the executive committee. Compensation is based on comparable compensation and documentation. The compensation of other officers is based on a review and approval by the board of directors, comparable compensation data, and documentation.”

“The organization does not make its governing documents, conflict of interest policy, or financial statements available to the public.”

“The board of directors engages an independent cpa firm to perform a review of the organization's financial statements. The board of directors oversees and evaluates the performance of the review.”