ARTICLE XI: DISSOLUTION CLAUSE

The NP Assoc GR may be dissolved only with authorization by its Board of Directors given at a special meeting called for that purpose and with subsequent approval by a two-thirds (2/3) vote of the Active Members (status determined by Membership Committee). Upon dissolution or other termination of The NP Assoc GR, all remaining assets of The NP Assoc GR, after payment in full of all its debts, obligations, and necessary final expenses, or after the making of adequate provision therefor, shall be distributed to such tax-exempt organizations (with purposes similar to those of The NP Assoc GR) as shall be chosen by the then existing Board of Directors of The NP Assoc GR.

Back to bylaws page