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10/12/2009 Council Packet
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10/12/2009 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
10/12/2009
Council Meeting Type
Regular
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• <br />• <br />• <br />Upon the dissolution of the corporation, the Board of Directors shall, after paying <br />or making provisions for the payment of all the liabilities of the corporation, dispose of <br />all the assets of the corporation exclusively for the purposes for which this corporation <br />was organized in such manner as the Board of Directors shall determine. Any such assets <br />not so disposed of shall be disposed of by the District Court of the county in which the <br />principal office of the corporation is then located, exclusively for such purposes or to <br />such organization or organizations, as said court shall determine, which are organized and <br />operated exclusively for such purposes. <br />ARTICLE X <br />AMENDMENT <br />A. Amendment by Members. Amendments to the Articles must be approved <br />by a majority of the directors and a majority of the Members with voting rights. If an <br />amendment is initiated by the directors, proper notice of the proposed amendment must <br />precede a member meeting at which the amendment will be considered and must include <br />the substance of the proposed amendment. If an amendment is proposed and approved by <br />the Members, the Members may demand a special board meeting within 60 days for <br />consideration of the proposed amendment if a regular board meeting would not occur <br />within 60 days. <br />B. Amendment by Board. When authorized by the Members, these Articles <br />may be amended by the Board of Directors by the affirmative vote of a majority of the <br />Directors then in office who are present and entitled to vote at a duly held meeting of the <br />Board of Directors for which notice of the meeting and the proposed amendment have <br />been given. A majority of Members with voting rights voting at a meeting duly called for <br />
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