Board/Bylaws: Difference between revisions

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.

===Execution of documents that dispose assets of the Foundation===

All contracts, deeds, documents, and instruments that acquire, transfer, exchange, sell, or dispose of any assets of the Foundation must be executed by the President to bind the Foundation. If the President is incapacitated or otherwise unavailable, then the designated Vice-President may execute the respective documents to bind the Foundation. 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.

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.

The fiscal year of the Foundation shall be set by the Board, but shall end in December.

To the fullest extent permitted by Wyoming law, the Foundation shall indemnify its directors, officers, and agents against expenses and liabilities incurred in connection with service to the Foundation.

These bylaws are temporary until the Foundation consults with an attorney, and may be amended by a majority vote of the Board.

The Foundation is created for charitable purposes. As such, any assets of the Foundation, if it is dissolved, shall go to an organization qualifying as exempt under 501(c)(3) of the Internal Revenue Code.