Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE ORGANIZATION ADOPTED AMENDMENTS TO ITS BYLAWS. THE NEW AMENDMENTS ALLOW BRANCHES OF OUT-OF-STATE FINANCIAL INSTITUTIONS TO BECOME A BANK MEMBER INSTEAD OF AN ASSOCIATE MEMBER. IT ALSO ALLOWS ASSOCIATE MEMBERS TO SERVE ON CBA COMMITTEES. ANOTHER AMENDMENT CHANGES WHO PRESIDES AT THE EXECUTIVE COUNCIL MEETINGS FROM IMMEDIATE PAST CHAIRMAN TO CHAIRMAN. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS ACTIVE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | EACH ACTIVE MEMBER CURRENT ON THEIR DUES IS A VOTING MEMBER. EACH VOTING MEMBER IS ALLOWED ONE VOTE ON EACH ISSUE PRESENTED FOR VOTE. DIRECTORS OF THE EXECUTIVE COUNCIL FROM EACH DISTRICT SHALL BE ELECTED BY THE MEMBER BANKS IN THEIR RESPECTIVE DISTRICT. TWO OF THE EXECUTIVE BOARD MEMBERS ARE DESIGNATED BY THE INDEPENDENT BANKERS ASSOCIATION. THE OTHER OFFICERS, EXCEPT THE IMMEDIATE PAST CHAIRMAN OF THE BOARD, ARE THEN ELECTED BY THE MEMBERSHIP. |
| FORM 990, PART VI, SECTION A, LINE 7B | APPROVAL OF AN AGREEMENT FOR MERGER OR CONSOLIDATION OF THE ASSOCIATION WITH OTHER CORPORATIONS OR ASSOCIATIONS OR SALE OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATE PROPERTY REQUIRE MEMBERSHIP APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 11 | THE EXECUTIVE DIRECTOR AND PRESIDENT/CEO REVIEW THE FORM 990. AFTER THEIR REVIEW A COPY OF THE RETURN WILL BE FURNISHED TO FINANCE COMMITTEE FOR THEIR REVIEW AS WELL AS MAKING THE RETURN AVAILABLE TO THE ENTIRE BOARD PRIOR TO THE ACTUAL FILING OF THE RETURN. THE FORM 990 WAS PREPARED BY AN OUTSIDE CPA FIRM. |
| FORM 990, PART VI, SECTION B, LINE 12C | ONCE A YEAR THE EXECUTIVE COUNCIL REVIEWS THE CONFLICT OF INTEREST POLICY AND THE NEW CHAIRMAN SIGNS IT. DURING THE REVIEW BOARD MEMBERS DISCLOSE POTENTIAL CONFLICTS THAT MIGHT EXIST. THE BOARD ALSO DISCUSSES THE ISSUES TO EDUCATE THE MEMBERS REGARDING THE POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION HAS A REVIEW COMMITTEE WHO MEETS AND OFFERS SUGGESTIONS FOR SALARY INCREASES. THESE SUGGESTIONS GO TO THE EXECUTIVE COUNCIL WHO WILL PASS OR APPROVE THE SALARY INCREASES. |
| FORM 990, PART VI, SECTION C, LINE 19 | COMMUNITY BANKERS ASSOCIATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST AS WELL AS FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE FORM 990 IS AVAILABLE UPON WRITTEN REQUEST. |
| FORM 990, PART XI, LINE 9: | EARNINGS IN SUBSIDIARY 12,743. |
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