Board/Bylaws: Difference between revisions

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The other documents held at the principal address pursuant to these Bylaws.

The Organization acknowledges and agrees that any obligation to produce corporate documents under this Article of these Bylaws shall be attached to the Secretary as part of their duties.

==Special Corporate Acts==

===Execution of legally binding documents===

All contracts, deeds, documents, and instruments that acquire, transfer, exchange, sell, or dispose of any assets of the Organization must be executed by the President to bind the Organization. If the President is incapacitated or otherwise unavailable, then the designated Vice-President may execute the respective documents to bind the Organization. This Section does not apply to any checks, money orders, notes, or other financial instruments for direct payment of corporate funds which are subject to the below section of these Bylaws.

===Checks and Notes===

All authorizations to distribute, pay, or immediately draw upon the financial resources of the Foundation must be signed by the Treasurer, including any expense reimbursement or compensation payments to Directors, officers, employees, representatives, service providers, or contractors of the Foundation. If the Treasurer is incapacitated or otherwise unavailable, then the President may execute the respective documents to bind the Foundation.

===Conflicts of Interest in Special Corporate Acts===

If the President holds an interest that exists outside of the capacity of being President, then any agreement involving such interest must be signed by a separate individual officer to duly bind the Foundation to such an agreement or instrument.

===Consolidations===

Following the approval by the Board, in order for any consolidation or merger to be effective, it must follow the process set out under the laws of the state of incorporation. Any merger which would result in the loss of the Organization’s nonprofit or tax-exempt status is not permitted under these Bylaws.

===Reorganizations===

Following the approval by the Board, in order for any conversion of the Organization to another organizational structure to be effective, it must follow the processes set out under the laws of the state of incorporation. Any conversion which would result in the loss of the Organization’s nonprofit or tax-exempt status is not permitted under these Bylaws.

===Dissolution===

Following the approval by the Board, in order for the Organization to be dissolved, it must follow the process set out under the laws of the state of incorporation.

==Article 8: Fiscal Year==

@@ Line 134: / Line 134: @@
 The other documents held at the principal address pursuant to these Bylaws.
 The Organization acknowledges and agrees that any obligation to produce corporate documents under this Article of these Bylaws shall be attached to the Secretary as part of their duties.
+==Special Corporate Acts==
+===Execution of legally binding documents===
+All contracts, deeds, documents, and instruments that acquire, transfer, exchange, sell, or dispose of any assets of the Organization must be executed by the President to bind the Organization. If the President is incapacitated or otherwise unavailable, then the designated Vice-President may execute the respective documents to bind the Organization. This Section does not apply to any checks, money orders, notes, or other financial instruments for direct payment of corporate funds which are subject to the below section of these Bylaws.
+===Checks and Notes===
+All authorizations to distribute, pay, or immediately draw upon the financial resources of the Foundation must be signed by the Treasurer, including any expense reimbursement or compensation payments to Directors, officers, employees, representatives, service providers, or contractors of the Foundation. If the Treasurer is incapacitated or otherwise unavailable, then the President may execute the respective documents to bind the Foundation.
+===Conflicts of Interest in Special Corporate Acts===
+If the President holds an interest that exists outside of the capacity of being President, then any agreement involving such interest must be signed by a separate individual officer to duly bind the Foundation to such an agreement or instrument.
+===Consolidations===
+Following the approval by the Board, in order for any consolidation or merger to be effective, it must follow the process set out under the laws of the state of incorporation. Any merger which would result in the loss of the Organization’s nonprofit or tax-exempt status is not permitted under these Bylaws.
+===Reorganizations===
+Following the approval by the Board, in order for any conversion of the Organization to another organizational structure to be effective, it must follow the processes set out under the laws of the state of incorporation. Any conversion which would result in the loss of the Organization’s nonprofit or tax-exempt status is not permitted under these Bylaws.
+===Dissolution===
+Following the approval by the Board, in order for the Organization to be dissolved, it must follow the process set out under the laws of the state of incorporation.
 ==Article 8: Fiscal Year==