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AG 2014 07 21
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AG 2014 07 21
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Last modified
7/22/2014 2:15:41 PM
Creation date
11/27/2017 10:49:16 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/21/2014
Board
Board of Commissioners
Meeting Type
Regular
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organized or operated, for purposes not exclusively charitable within the meaning of <br />Section 501(c)(3) of the Code; <br />d) No compensation or payment shall ever be made to any employee, officer, <br />director (including any corporation director), or organizer of the Corporation, or <br />substantial contributor to it, except as reasonable allowance for actual expenditures or <br />services actually made or rendered to or for the Corporation; nor shall the whole nor any <br />part or portion of the assets or net earnings, current or accumulated, of the Corporation <br />ever be distributed to or divided among such persons, firm or corporation; nor shall the <br />whole nor any part or portion of such assets or net earnings be used for, accrue to, or <br />inure to the benefit of any private shareholder or individual within the meaning of Section <br />501(c)(3) of the Code; and <br />e) In the event of termination, dissolution or winding up of the Corporation in any <br />manner or for any reason whatsoever, all of its remaining assets, if any, aver the <br />payment, discharge or satisfaction of all of its liabilities and obligations shall be <br />distributed to (and only to) such one or more organizations elected by the Board of <br />Directors which supports the purposes for which this Corporation was formed, which <br />organization or organizations shall qualify under Section 501(c)(3) of the Code. <br />G -2 Page 218 <br />
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