By-Laws
| Square Pond Improvement Association Bylaws | ||
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ARTICLE I Name & Seal Section 1 The Corporation shall be known as Square Pond Improvement Association, Inc. Section 2 The seal of the Corporation shall bear the corporate name. ARTICLE II Purpose The corporation is organized as a public benefit corporation for the following purpose or purposes: Section 1 The Square Pond Improvement Assoc., Inc. is organized for the purpose of preserving and protecting the natural character of Square Pond and its surroundings, enhancing the water quality and to educate and promote responsible use of the pond as a public recreational facility for today and for future generations. Section 2 Said corporation is also organized exclusively for charitable, religious, educational, and scientific purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. Section 3 Upon dissolution of the corporation, the Board of Directors will, after paying or making provision for the payment of the liabilities of the corporation, dispose of all the assets of the corporation to another such organization or organizations organized and operated exclusively for the purposes set forth in ARTICLE 1, as will at the time qualify as an exempt organization or organizations under Section 501(c)(3) of the Internal Revenue Code (or corresponding provision of any future United State Internal Revenue Laws), as the Board of Directors will determine. Any such assets not so disposed of will be disposed of by the Superior Court of York County, Maine, to such organization(s) as the court will determine which is organized and operated exclusively for such purpose. Section 4 No part of the net earnings of the corporation will inure to the benefit of or be distributed to its Directors, Officers or other private persons, except that the corporation will be authorized and empowered to pay reasonable compensation for services rendered and to make payments and... Read the complete set of By-Laws |
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| Square Pond Improvement Association Bylaws | ||
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ARTICLE I Name & Seal Section 1 The Corporation shall be known as Square Pond Improvement Association, Inc. Section 2 The seal of the Corporation shall bear the corporate name. ARTICLE II Purpose The corporation is organized as a public benefit corporation for the following purpose or purposes: Section 1 The Square Pond Improvement Assoc., Inc. is organized for the purpose of preserving and protecting the natural character of Square Pond and its surroundings, enhancing the water quality and to educate and promote responsible use of the pond as a public recreational facility for today and for future generations. Section 2 Said corporation is also organized exclusively for charitable, religious, educational, and scientific purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. Section 3 Upon dissolution of the corporation, the Board of Directors will, after paying or making provision for the payment of the liabilities of the corporation, dispose of all the assets of the corporation to another such organization or organizations organized and operated exclusively for the purposes set forth in ARTICLE 1, as will at the time qualify as an exempt organization or organizations under Section 501(c)(3) of the Internal Revenue Code (or corresponding provision of any future United State Internal Revenue Laws), as the Board of Directors will determine. Any such assets not so disposed of will be disposed of by the Superior Court of York County, Maine, to such organization(s) as the court will determine which is organized and operated exclusively for such purpose. Section 4 No part of the net earnings of the corporation will inure to the benefit of or be distributed to its Directors, Officers or other private persons, except that the corporation will be authorized and empowered to pay reasonable compensation for services rendered and to make payments and... Read the complete set of By-Laws |
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