My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
09/13/2001 HOUSING AUTHORITY Minutes
>
09/13/2001 HOUSING AUTHORITY Minutes
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/6/2018 2:58:15 PM
Creation date
4/6/2018 2:57:43 PM
Metadata
Fields
Template:
Mashpee_Meeting Documents
Board
HOUSING AUTHORITY
Meeting Document Type
Minutes
Meeting Date
09/13/2001
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
19
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
(f) No part of the net earnings of the corporation shall inure to the benefit of, <br /> or be distributed to its directors, officers, or other private persons, except <br /> that the corporation shall be authorized and empowered to pay reasonable <br /> compensation for services rendered and to make payments and <br /> distributions in furtherance of the corporation's purposes set forth in <br /> Article 2 of these Articles of Organization. No substantial part of the <br /> activities of the corporation shall consist of the carrying on of propaganda <br /> or otherwise attempting to influence legislation except as otherwise <br /> provided in section 501(h) of the Code. The corporation shall not <br /> participate in or intervene in (including the publishing or distribution of <br /> statements) any political campaign on behalf of or in opposition to any <br /> candidate for public office. <br /> (g) Except as may be otherwise required by law, the corporation may at any <br /> time dissolve by the affirmative vote of a majority of the detectors of the <br /> corporation entitled to vote; provided, however, that in tke event of any <br /> liquidation, dissolution, termination, or winding up ofdthe corporation <br /> (whether voluntary, involuntary or by operation of laver), the property or <br /> assets of the corporation remaining after providing fpr'the payment of its <br /> debts and obligations shall be conveyed, transferr,A, distributed, and set <br /> over outright to, or shall be applied for the t C;nefit of Mashpee Housing <br /> Authority, as a majority of the directors/of the corporation may by vote <br /> designate and in such proportions and in such manner as may be <br /> determined in such vote, provided, further, that the corporation's property <br /> may be applied to charitable purposes in accordance with the doctrine of <br /> cy pres in all respects as a court having jurisdiction in the premises may <br /> direct. <br /> (h) No officer or director shall be personally liable to the corporation for <br /> monetary damages for any breach of fiduciary duty by such officer or <br /> director as an officer or director notwithstanding any provision of law <br /> imposing such liability, except that, to the extent provided by applicable <br /> law, this provision shall not eliminate or limit the liability of an officer or <br /> director (i) for breach of the officer's or director's duty of loyalty to the <br /> corporation, (ii) for acts or omissions not in good faith or which involve <br /> intentional misconduct or a knowing violation of law, or (iii) for any <br /> transaction from which the officer or director derived an improper <br /> personal benefit. No amendment or repeal of this provision shall deprive <br /> an officer or director of the benefits hereof with respect to any act or <br /> omission occurring prior to such amendment or repeal. <br /> (i) Except as may be otherwise required by law, these Articles of <br /> Organization may be amended from time to time by an affirmative vote of <br /> two-thirds of the-directors of the corporation; provided, however, that no <br /> such amendment shall in any way authorize or permit the corporation to be <br /> operated other than exclusively for charitable purposes, or for any purpose <br /> - 3 - <br />
The URL can be used to link to this page
Your browser does not support the video tag.