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2003-253K
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2003-253K
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Last modified
11/22/2016 12:13:28 PM
Creation date
9/30/2015 6:52:53 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Contract
Approved Date
09/23/2003
Control Number
2003-253K.
Agenda Item Number
7.D.
Entity Name
Cultural Council of Indian River
Subject
Summer Cultural Camp Program
Children's Services Advisory Committee Grant Contract
Archived Roll/Disk#
3207
Supplemental fields
SmeadsoftID
3419
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r . <br /> 13195000001523 <br /> ARTICLE IV <br /> PROHIBITION AGAINST DISTRIBUTION OF INCOME <br /> No part of the net earnings of the corporation shall inure to the benefit of, or be <br /> distributable to its members, trustees , officers, or other private persons, except that the <br /> corporation shall be authorized and empowered to pay reasonable compensation for services <br /> rendered and to make payments and distributions in furtherance of the purposes set forth in <br /> Article II , above. No substantial part of the activities of the corporation shall be the carrying on <br /> of propaganda, or otherwise attempting to influence legislation, and the corporation shall not <br /> participate in, or intervene in (including the publishing or distribution of statements) any political <br /> campaign on behalf of or in opposition to any candidate for public office. Notwithstanding any <br /> other provision of these articles, the corporation shall not carry on any other activities not <br /> permitted to be carried on (a) by a corporation exempt from federal income tax under section <br /> 501 (c) (3 ) of the Internal Revenue Code, or the corresponding section of any future federal tax <br /> code , or (b) by • a corporation, contributions to which are deductible under section 170(c)(2) of <br /> the Internal Revenue Code, or the corresponding section of any future federal tax code. <br /> ARTICLE V <br /> CAPITAL STOCK <br /> The Corporation shall have no capital stock and shall be composed of members rather than <br /> shareholders . <br /> ARTICLE VI <br /> QUALIFICATIONS OF MEMBERSHIP <br /> The categories of membership , qualifications for membership and the manner of admission <br /> shall be as set forth in and regulated by the By-Laws of the Corporation. <br /> ARTICLE VII <br /> VOTING RIGHTS <br /> Members of the Corporation will have such voting rights as are provided in the By-Laws <br /> of the Corporation. <br /> ARTICLE VIII <br /> LIABILITY FOR DEBTS <br /> Neither the members nor the officers or directors of the Corporation shall be liable for <br /> debts of the Corporation. <br />
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