Section 1. Fiscal Year - The fiscal year of the Corporation will begin on May 1 and end on the last day of April.
Section 2. Inspection of Books and Records - All books and records of this Corporation may be inspected by any member, or his agent or attorney, for any proper purpose at any reasonable time upon five (5) days written demand under oath stating such purpose. This demand shall be delivered to the Secretary and the Treasurer of the Corporation.
Section 3. Non-Profit Operations and Compensation - This Corporation will not have or issue any shares of stock. No dividends will be paid, and no part of the income of this Corporation will be distributed to its members or Directors. However, the Corporation may pay compensation in a reasonable amount to members or Directors for services rendered.
Section 4. Loans - This Corporation shall not borrow money to finance its operations or the acquisition of capital equipment unless such loans are first approved by 60% of the members present at the meeting at which the vote is taken.
Section 5. General - The Corporation shall at all times be governed by the following limitations:
1. No part of the net earnings of the Corporation shall inure to the benefit of, or be distributable to its members, Trustees, Directors, Officers, or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set forth in the Articles of Incorporation. No substantial part of the activities of the Corporation shall be the carrying out of propaganda, or otherwise attempting to influence legislation, and the Corporation shall not participate in, or intervene in (including the publishing or distribution of statements) in a political campaign on behalf of any candidate for public office. Notwithstanding any other provision of the Articles of Incorporation, the Corporation shall not, except to an insubstantial degree, engage in any activities or exercise any powers that are not in furtherance of the purposes of this Corporation.
2. Upon the dissolution of the Corporation, the Board of Directors shall, after paying or making provision for the payment of all of the liabilities of the Corporation, dispose of all of the assets of the Corporation exclusively for the purpose of the Corporation in such manner, or to such organization(s) which are organized and operated exclusively for charitable, educational, or scientific purposes as shall at the time qualify as an exempt organization under the Internal Revenue Code of 1954 (as amended and/or superseded), as the Board of Directors shall determine. Any such assets not so disposed of shall be disposed of by the Circuit Court of the county in which the principal office of the Corporation is then located, exclusively for such purposes or to such organization(s), as said Court shall determine, which are organized and operated exclusively for such purpose.