(b) The whistleblower policy shall include the following provisions:

(1) procedures for the reporting of violations or suspected violations of laws or cooperative policies or bylaws, including procedures for preserving the confidentiality of reported information;

(2) a requirement that an employee, officer or director of the cooperative be designated to administer the whistleblower policy and to report to the board or an authorized committee thereof;

(3) a requirement that the person who is the subject of a whistleblower complaint not be present at or participate in board deliberations or vote on the matter relating to such complaint, provided that nothing in this paragraph shall prohibit the board from requesting that the person who is subject to the complaint present information as background or answer questions at a board meeting prior to the commencement of deliberations or voting relating thereto; and

(4) a requirement that a copy of the policy be distributed to all directors, officers and employees. For purposes of this subdivision, posting the policy on the cooperative's website or at the cooperative's offices in a conspicuous location accessible to employees are among the methods a cooperative may use to satisfy the distribution requirement.

(c) A rural electric cooperative that has adopted and possesses a whistleblower policy pursuant to federal, state or local laws that is substantially consistent with the provisions of subdivision (b) of this section shall be deemed in compliance with provisions of this section.

(d) Nothing in this section shall be interpreted to relieve any rural electric cooperative from any additional requirements in relation to internal compliance, retaliation, or document retention required by any other law or rule.