pf_03385 - Laserfiche WebLink

Home

ARTICLE VII Personal Liabi The members, directors and officers of the corporation shall not have personal liability for any debts or obligations of the corporation. AR'l'ICLE VIII R_~_c;:_u~t~~Y_9~_i!:l_!__I_!:l:.~.~~B!~.!:l.:t: The corporation shall not, incidentally or otherwise, afford pecuniary gain to its members, as such. No part of the net earnings of the corporation shall inure, within the meaning of section 80l(c) (3) of the Code, to the benefit of any member, director, or officer of the corporation or any other private individual; provided, however, that nothing herein shall prohibit, among other things, the payment of reasonable compensation for services rendered to or for the corporation in the performance of its charitable purposes. AR'I'ICLE IX Political Activi Not more than an insubstantial part of the activities of the corporation shall include carrying on propaganda or otherwise attempting to influence legislation, and the corporation shall not participate in, or intervene in (including the publishing or distributing of statements), any political campaign on behalf of, or in opposition to, any candidate for public office. ARTICLE X Receipts of Gifts, Requests, Etc. In furtherance and not in limitation of the powers conferred by law, the corporation may take, receive, and hold real and personal property, including the principal and interest of any money or other fund, that is given, conveyed, bequeathed, devised to, or otherwise vested in the corporation in trust for a purpose consistent with the purpose set forth in these Articles of Incorporation. Except where a trust instrument prescribes otherwise, the corporation may invest trust property or its proceeds in accordance with the laws of the state of Minnesota. 3