| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | THE ILLINOIS LAND TITLE ASSOCIATION CONTRACTS WITH A THIRD-PARTY PROFESSIONAL MANAGEMENT SERVICES COMPANY TO SERVE AS AN EXECUTIVE DIRECTOR AND OVERSEE DAY TO DAY OPERATIONS OF THE ASSOCIATION. ANNUALLY, THE ASSOCIATION PRESIDENT REVIEWS THE SERVICES PROVIDED TO DETERMINE THE MANAGEMENT CONTRACT SERVICES AND FEES FOR THE NEXT YEAR. ONCE THE TERMS ARE AGREED TO, THE CONTRACT COMES BEFORE THE BOARD OF DIRECTORS FOR FORMAL APPROVAL AND SIGNING OF THE CONTRACT. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ASSOCIATION HAS THREE CLASSES OF MEMBERS CONSISTING OF ACTIVE MEMBERS, ASSOCIATE MEMBERS, AND LIFETIME MEMBERS. ALL MEMBERS ARE ENTITLED TO ATTEND MEETINGS. ONLY ACTIVE MEMBERS ARE ENTITLED TO VOTE ON MATTERS BEFORE THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7A | OFFICERS OF THE ASSOCIATION ARE ELECTED AT THE ANNUAL MEETING BY VOTE OF THE ACTIVE MEMBERS. DIRECTORS OF THE ASSOCIATION ARE ELECTED AT THE ANNUAL MEETING FROM THE GROUP OF NOMINATED CANDIDATES BY VOTE OF THE ACTIVE MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE TREASURER OF THE ASSOCIATION IS PROVIDED A COPY OF THE FORM 990 TO REVIEW PRIOR TO FILING AND FOR AUTHORIZATION TO ELECTRONICALLY FILE. THE MANAGEMENT COMPANY ALSO REVIEWS THE FILED 990. THE FORM 990 IS AVAILABLE TO ANY MEMBER WHO WOULD LIKE TO SEE. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE ILLINOIS LAND TITLE ASSOCIATION CONTRACTS WITH A THIRD-PARTY PROFESSIONAL MANAGEMENT SERVICES COMPANY TO SERVE AS AN EXECUTIVE DIRECTOR AND OVERSEE DAY TO DAY OPERATIONS OF THE ASSOCIATION. ANNUALLY, THE ASSOCIATION PRESIDENT REVIEWS THE SERVICES PROVIDED TO DETERMINE THE MANAGEMENT CONTRACT SERVICES AND FEES FOR THE NEXT YEAR. ONCE THE TERMS ARE AGREED TO, THE CONTRACT COMES BEFORE THE BOARD OF DIRECTORS FOR FORMAL APPROVAL AND SIGNING OF THE CONTRACT. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE FORM 990 IS AVAILABLE TO ANY MEMBER WHO WOULD LIKE TO SEE. |
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