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19E - RPT - CMD ANNUAL RPT
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09/04/2012
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19E - RPT - CMD ANNUAL RPT
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Last modified
8/30/2012 10:36:15 AM
Creation date
8/30/2012 10:36:08 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
19E
Date
9/4/2012
Destruction Year
2017
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ARTICLE XV. DEDICATION AND DISSOLUTION <br />SECTION 1. DEDICATION <br />The property of this Corporation is irrevocably dedicated to exempt purposes and no part of the net <br />income or assets of this Corporation shall ever inure to the benefit of any Director, officer or member <br />thereof or to the benefit of any private individual. <br />SECTION 2. DISSOLUTION <br />Upon dissolution or the conclusion of business of the Corporation, its assets remaining after payment <br />of, or provision for payment of, all debts and liabilities of this Corporation, shall be distributed to a <br />nonprofit fund, foundation or Corporation within the City of Santa Ana operated exclusively for exempt <br />purposes and which has established its tax exempt status under Section 501 (c) of the Internal <br />Revenue Code, or the corresponding section of any future federal tax code, and which is qualified for <br />exemption from taxation under appropriate sections of the California Revenue and Taxation Code. <br />ARTICLE XVI. AMENDMENT OF BYLAWS <br />SECTION 1. POWERS OF MEMBERS <br />(a) Power to Amend. These Bylaws may be amended or repealed and new Bylaws adopted by <br />the affirmative vote of a majority of the votes represented and voting at a duly noticed and held <br />meeting of the members at which a quorum is present, or by the written assent of such <br />members, except as otherwise provided by law or by the Articles of Incorporation. <br />(b) Request to Amend. The membership may request that action be taken to change the Bylaws <br />by submitting to the Board of Directors a petition signed by fifteen percent (15%) of the <br />Regular membership. <br />(c) Notice and Ballot. The Board shall provide all Regular Members with a notice of meeting <br />accompanied by a statement about the proposed amendment clearly outlining the change, <br />specifying the reason for the change, and if the change is requested by membership petition or <br />by action of the Board of Directors. <br />SECTION 2. POWERS OF DIRECTORS <br />Subject to the rights of members as provided in Article XVI Section 1, these Bylaws may be altered, <br />amended or repealed by a vote of a two-thirds (2/3rd) majority of the Board of Directors present in <br />person at any valid meeting of the Board of Directors at which a quorum is present provided, <br />however, that notice of the proposed amendment, as described in Article XVI Section 1(c) of these <br />Bylaws, shall have been given to each Regular Member at least thirty (30) days before the meeting at <br />which the proposed amendment is to be voted upon, and further provided that the Board of Directors <br />may not adopt any amendment that would: <br />30 <br />19E-44
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