Laserfiche WebLink
05/02/2008 01:19 5085395245 WILLOBEND _ - PAGE 05/08 <br /> • <br /> ARTICLE IV <br /> I. The corporation shall have and be authorized to exercise any and all <br /> powers now or hereafter vested in or conferred upon corporations created under <br /> Massachusetts General Laws, Chapter 180. In addition, the corporation shall have and be <br /> authorized to exercise the following powers: <br /> (a) The corporation may solicit and receive contributions and grants <br /> from any and all sources and may receive and hold, in trust or <br /> otherwise, funds received by gift or bequest. <br /> (b) The corporation may make donations in such amounts as the <br /> directors shall determine, irrespective of corporate benefit, for the <br /> Public welfare or for community fund, charitable, educational or <br /> civic purposes. <br /> (c) The corporation may be a partner in any business enterprise which <br /> it would have power to conduct by itself: <br /> • (d) 11te corporation may make contracts of guarantee and suretyship to <br /> the fullest extent as permitted by Massachusetts General .Laws, <br /> Chapter 180. <br /> (e) The corporation may do business,carry on its operations, have <br /> offices and exercise the powers granted by Massachusetts General <br /> Laws,Chapter 180, in any jurisdiction within or without the United <br /> States. <br /> 2. Meetings of the members may be held anywhere in the United States. <br /> 3.. Any amendment or repeal of the by-laws of the corporation in whole or in <br /> part shall be made only by the members,as provided in the corporation's By-Laws. <br /> 4. The corporation shall not exercise any power granted in these Articles of <br /> Organization in a manner inconsistent with Massachusetts General Laws,Chapter 180, or <br /> any of the other General Laws of the Commonwealth of Massachusetts. <br /> 5. The following shall be further limitations on the powers of the corporation <br /> notwithstanding any other provision of these Articles of Organization: <br /> (a) The corporation does not permit pecuniary gain or profit. No part <br /> of any net earnings of the corporation shall inure to the benefit of <br /> any member of the corporation, member of the Board of Directors, <br /> . officer of the corporation, any private shareholder or any other <br /> private individual (as defined in Treasury Regulation Section <br /> 1.501(a)-1(c)),the corporation being organized for social,pleasure, <br />