Board/Bylaws: Difference between revisions

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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.

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 Foundation'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.

Following the approval by the Board, in order for any conversion of the Foundation 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 Foundation's nonprofit or tax-exempt status is not permitted under these Bylaws.

===Dissolution===

@@ Line 145: / Line 145: @@
 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.
+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 Foundation'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.
+Following the approval by the Board, in order for any conversion of the Foundation 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 Foundation's nonprofit or tax-exempt status is not permitted under these Bylaws.
 ===Dissolution===