ARTICLE VIII - TRANSACTION OF BUSINESS

1. The Corporation's fiscal year shall end on December 31st of each year.

2. The Corporation shall not sell, mortgage, lease away, or otherwise dispose of its real property unless authorized by a majority of the eligible voters at a membership meeting.

3. The Corporation shall make no purchase of real property exceeding a limit of Six Thousand Dollars ($6,000.00) unless authorized by a majority of the eligible voters at a membership meeting. Nothing contained in this paragraph shall prohibit the Corporation from purchasing properties from Tax, Sheriff, or Bankruptcy Sale, or by private negotiation with the debtor in order to protect its claim provided the cost does not exceed $10,000.00.

4. Whenever the lawful activities of the Corporation involve among other things the charging of fees or prices for its services or products, it shall have the right to receive such income and, in so doing, may make an incidental profit. All such incidental profits shall be applied to the maintenance and operation of the lawful activities of the Corporation, and in no case shall be divided or distributed in any manner whatsoever among the members or Directors of the Corporation.

5. All checks or demands for money and notes of the Corporation shall be signed and countersigned by such officers as the Board of Directors may from time to time designate.

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Last updated 1/18/05

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