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our_bylaws [2017/07/30 21:25]
admin [Section 1. Limitations on Activities]
our_bylaws [2017/07/30 21:26] (current)
Line 106: Line 106:
 No part of the net earnings of this Corporation shall inure to the benefit of, or be distributable to, its members, Directors, or trustees, Officers or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes of this Corporation. ​ No part of the net earnings of this Corporation shall inure to the benefit of, or be distributable to, its members, Directors, or trustees, Officers or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes of this Corporation. ​
 ====Section 3. Distribution of Assets ==== ====Section 3. Distribution of Assets ====
-Upon the dissolution of this Corporation,​ its assets remaining after payment, or provision for payment, of all debts and liabilities of this Corporation shall be distributed for one or more exempt purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code or shall be distributed to the members of the Corporation,​ or another 501(c)(3) organization with a similar purpose, or to a state or local government, for a public purpose. Such distribution shall be made in accordance with all applicable provisions of the laws of this state. ​+Upon the dissolution of this Corporation,​ its assets remaining after payment, or provision for payment, of all debts and liabilities of this Corporation shall be distributed for one or more exempt purposes within the meaning of Section 501%%(%%c)(3) of the Internal Revenue Code or shall be distributed to the members of the Corporation,​ or another 501%%(%%c)(3) organization with a similar purpose, or to a state or local government, for a public purpose. Such distribution shall be made in accordance with all applicable provisions of the laws of this state. ​
  
 =====Article 8 Amendment of Bylaws===== =====Article 8 Amendment of Bylaws=====
our_bylaws.txt ยท Last modified: 2017/07/30 21:26 (external edit)