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- 11 <br /> Section 5. Parliamentary Authority. Roberts Rules of Order, <br /> Newly Revised, shall govern in all cases where they do not conflict <br /> with the Bylaws. <br /> Section 6. Objectives of Corporation. This corporation has been <br /> organized for the purposes set forth in the Articles of Incorporation <br /> and these Bylaws. No substantial part of the activities of the <br /> corporation shall be carrying on of propaganda, or otherwise <br /> attempting to influence legislation and the Corporation shall not <br /> participate in or intervene in (including the publishing or <br /> distribution of statements) any political campaign on behalf of any <br /> candidate for public office. Notwithstanding any other provisions of <br /> these Bylaws, the Corporation shall not carry on any other activities <br /> not permitted to be carried on (a) by an organization exempt from <br /> Federal income tax under section 501 (c) (3) of the Internal Revenue <br /> Code or a corresponding provision of any future Federal tax code, or <br /> (b) by an organization, contributions to which are deductible under <br /> section 170 (c) (2) of the Internal Revenue Code, or the corresponding <br /> provision of any future Federal tax code. <br /> Section 7. Non Profit Corporation. No part of the net earnings <br /> shall inure to the benefit of or be distributable to its officers, <br /> directors or other persons in similar positions except that the <br /> Corporation shall be authorized and empowered to pay reasonable <br /> compensation for services rendered and to make payments and <br /> distributions in furtherance of the purposes set forth herein. <br /> Section 8. Merger, Acquisition, Sale of Assets and Purchase of <br /> Assets. The Corporation may not effect a merger with any other <br /> corporation or entity, or acquire another corporation or entity, or <br /> consent to the acquisition of the Corporation by any other <br /> corporation, entity or individual, or allow the sale of all, or <br /> Page 9 of 10 <br /> substantially all, of the Corporation' s assets to any other <br /> corporation, entity or individual, or purchase all or substantially <br /> all of another corporation or entities assets, without the unanimous <br /> vote of all directors in office at the time such action is undertaken. <br /> Section 9. Liquidation of Assets. In the event of dissolution <br /> of the Corporation, by merger, acquisition or sale of assets, the <br /> Board of Directors for said purpose shall, after paying or making <br /> provision for the payment of all the liabilities and obligations of <br /> the Corporation, transfer and convey all remaining assets of the <br /> Corporation to an organization with an exempt purpose within the <br /> meaning of section 501 (c) (3) of the Internal Revenue Code (or a <br /> corresponding section of any future Federal tax code) which is also a <br /> purpose similar to that 'of the Corporation. Any such assets not so <br /> disposed of shall be disposed of by the Court of Common Pleas (known <br /> in the State of North Carolina as the Superior Court) of the county in <br /> which the principal office of the Corporation is then located, <br /> exclusively for such purposes or to such ' organization or <br /> organizations, as said Court shall determine, which are organized and <br /> operated exclusively for such purposes. <br /> Approved April 5, 2004; Amended <br />