Article VIII - Section 501(c)(6) Corporation
- This corporation is organized for non-profit purposes, as an association of persons having a common business interest and desiring to promote such interest, under section 501(c)(6) of the Internal Revenue Code of 1986 (or the corresponding provision of any future United States Internal Revenue Law).
- No part of the net earnings of the corporation shall inure to the benefit of or be distributable to its Directors, trustees, officers, members or other private persons, except that the corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set forth in the Articles of Incorporation and as permitted by section 501(c)(6) of the Internal Revenue Code.
- The activities of this Corporation shall be directed to the improvement of the business conditions applicable to the purposes of this Corporation set forth in the Articles hereof and in these By-laws. Notwithstanding any other provision of these Articles, the corporation shall not carry on any other activities not permitted to be carried on by a corporation exempt from federal income tax under section 501(c)(6) of the Internal Revenue code of 1986 (or the corresponding provision of any future United States Internal Revenue Law.
- Upon the dissolution of the corporation, the Board of Directors shall, after paying or making provision for the payment of all of the liabilities of the corporation, dispose of all of the assets of the corporation to such organization or organizations that are organized and operated for non-profit purposes as closely aligned as possible to the purposes and objectives of this Corporation which shall at the time qualify as an exempt organization or organizations organized and operated under section 501(c)(6) of the Internal Revenue Code of 1986 (or the corresponding provision of any future United States Internal Revenue Law). Any such assets not so disposed of shall be disposed of by the Superior Court of the county in which the principal office of the corporation is then located, exclusively for such purposes or to such organization or organizations, as said Court shall determine, which are organized and operated exclusively for such purposes.