Oklahoma Bankers Association

“Subjective to the directives of the board of directors, the board may delegate the duties and responsibilities of the board of directors to an executive committee, audit committee or other committees established by the board. The executive committee shall be comprised of the chair, vice chair, first vice chair, immediate past chair, and the president of the oba, with the president serving as a non-voting member of the committee. All actions of any division, committee and task force are subject to the approval of the board of directors of the oba.”

“Members of the organization are financial institutions with federally insured deposits in the state of oklahoma”

“Each member financial institution has one vote. The eighteen members of the board, as well as four board officers, are elected by the members. Two board members are appointed by the chairman of the board. One is a representative of the emerging leaders class.”

“Each member has one vote. Changes to the by-laws require a vote of the membership for approval. Additionally, changes in compensation for management-level employees, except the ceo, are approved by the executive committee of the board of directors. Changes in compensation of the ceo are approved by the board of directors.”

“The preparer provides a tax organizer to the organization for completion. The information requested is provided to the preparer. Form 990 is then prepared by an independent cpa firm. The preparer submits a draft of form 990 to the cfo when complete. The cfo reviews the return and all related schedules and notifies the preparer if changes are needed. If changes are necessary, the preparer makes those changes and re-submits to the cfo for review and approval. The return is then signed by the ceo, except that the preparer may electronically submit the return when expedient. The form 990 is made available to the board for their review at the following meeting.”

“Each board member, officer and key employee is required to complete a disclosure form. Such form is reviewed by the cfo/coo. Any potential conflicts of interest are brought to the attention of the executive committee of the board for resolution.”

“Ceo's compensation is stated in employment contract. Employment contract was reviewed and approved by the board of directors and included the review of comparability data and contemporaneous substantiation of the deliberation and decision at the time the contract was approved.”

“Compensation is reviewed by the executive committee annually as part of the budget process and further confirmed in review and approval for filing of the form 990.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. They are securely filed with the cfo at the oba offices.”

“Income from Subsidiary - -59416;”