625
edits
Difference between revisions of "Bylaws"
→Article 5. Dedication of Assets: removes (3)
(→3.3. Limitation on Activities: removes (3)) |
(→Article 5. Dedication of Assets: removes (3)) |
||
| Line 85: | Line 85: | ||
=Article 5. Dedication of Assets= | =Article 5. Dedication of Assets= | ||
This corporation's assets are irrevocably dedicated to public benefit purposes. No part of the net earnings, properties, or assets of the corporation, on dissolution or otherwise, shall inure to the benefit of any private person or individual, or to any director or officer of the corporation. On liquidation or dissolution, all properties and assets remaining after payment, or provision for payment, of all debts and liabilities of the corporation shall be distributed to a nonprofit fund, foundation, or corporation that is organized and operated exclusively for charitable purposes and that has established its exempt status under Internal Revenue Code section 501 (c | This corporation's assets are irrevocably dedicated to public benefit purposes. No part of the net earnings, properties, or assets of the corporation, on dissolution or otherwise, shall inure to the benefit of any private person or individual, or to any director or officer of the corporation. On liquidation or dissolution, all properties and assets remaining after payment, or provision for payment, of all debts and liabilities of the corporation shall be distributed to a nonprofit fund, foundation, or corporation that is organized and operated exclusively for charitable purposes and that has established its exempt status under Internal Revenue Code section 501(c). | ||
=Article 6. Corporation With Members= | =Article 6. Corporation With Members= | ||