National Auto Auction Association

“There shall be an executive committee consisting of the president, president-elect, vice-president, secretary, treasurer, chairman of the board, executive vice presidnet, and president-emeritus, if any. The executive committee may exercise the powers of the board when the board is not in session, reporting to the board at its succeeding meeting of any action taken. The board may, however, limit the authority of the executive committee as the board may from time to time deem advisable.”

“The association has regular members which are wholesale auto auctions and associate members who are either remarketers or suppliers that do business in the wholesale auto auction business.”

“All regular members, being a wholesale member auction, has one vote and all directors and officers are elected by the members at the annual meeting of the association.”

“The form 990 will be prepared by an outside accounting firm and reviewed by management and by the finance and budget committee. The draft 990 will be provided to the board of directors prior to finalization for their review and comments. Once approved the form 990 will be filed with the irs.”

“The policy is reviewed by the board of directors and committee chairs prior to each meeting of the organization and all conflicts of interest are recognized and addressed at that time. The policy applies to the associations's board members, committee members, and any association member or representative having the right to vote on matters affecting the association.”

“Salaries are reviewed by the compensation committee who makes recommendations for approval by the board based on compensation surveys and review of comparable compensation for similar qualified persons. This process was last performed in 2013.”

“The association makes its governing documents and conflict of interest policy available to the public on the association's website. The association does not make its financial statements available to the public.”