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Collection: Original Records > Articles of Incorporation

Kingsbury Greens Assoc (AI-K037)(1979) (11 pages)

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ARTICLE VII LIMITATION ON CORPORATE ACTIVITIES No substantial part of the activities of the Association shall consist of the carrying on of propaganda, or otherwise attempting to influence legislation, nor shall the Association participate in, or intervene in (including the publishing or distributing of statements), any political campaign on behalf of any candidate for public office. ARTICLE IX GAINS, PROFITS, DISTRIBUTIONS The Association is organized solely for nonprofit purposes and no part of its net income or assets shall ever inure to the benefit of any director, officer, or member thereof or to the benefit of any private persons, other than by way of payment of salary or other compensation for services rendered to the Association and for its benefit in furtherance of its purposes. Upon the dissolution or winding up of the corporation, its assets, remaining after payment or provision for payment of all its debts and liabilities, shall be distributed to a nonprofit association, foundation, or corporation which is organized and operated exclusively for charitable purposes and which has established its tax exempt status under Section 501l(c) (3) of the Internal Revenue Code.