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Agenda - 12-15-2015-11a - Upper Neuse River Basin Association- Appointment
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Agenda - 12-15-2015-11a - Upper Neuse River Basin Association- Appointment
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12/15/2015
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Regular Meeting
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Agenda
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11a
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Minutes 12-15-2015
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16 <br /> Adopted by the UNRBA Board of Directors Feb. 16, 2011;Amended Nov. 20, 2013 <br /> ARTICLE XIII—AMENDMENTS <br /> These Bylaws may be amended or repealed,and new Bylaws may be made at any regular or special <br /> meeting of the Board of Directors by an affirmative majority vote of Directors then holding office. <br /> ARTICLE XIV—MISCELLANEOUS <br /> 14.1. Audit. The Association shall have an independent audit prepared detailing the financial <br /> condition of the Association at least once every three years. The Association may have an independent <br /> audit done more frequently as determined by the Directors. <br /> 14.2 Dissolution. The Association may be dissolved only by the vote of the majority of the <br /> Directors of the Association at a meeting to which due notice of such purpose has been given to the <br /> Directors. Upon the dissolution of the Association, the Board of Directors shall first pay or make <br /> provision for the payment of all the liabilities of the Association and then shall dispose of all the assets <br /> of the Association exclusively for the purposes of the Association in such manner or to such <br /> organization or organizations operated exclusively for charitable and educational purposes as the Board <br /> of Directors shall determine, and any such assets not so disposed of shall be remitted to the Members in <br /> proportion to their respective dues contribution percentages for the then current fiscal year, or, <br /> alternatively, each Member may direct that its portion be contributed and given to a 501(c)(3) <br /> organization for use in furthering the health, safety and welfare of the public in the Falls Lake <br /> Watershed, its jurisdiction, or North Carolina. None of the assets shall be disposed of or diverted to any <br /> other purpose, nor shall any asset be disposed of in such manner so as to accrue to the benefit of any <br /> Director of said Association. <br /> 14.3. Interpretation of By-laws. These By-laws shall be construed and interpreted under the <br /> laws of the State of North Carolina. Notwithstanding the foregoing, however, these By-laws shall at all <br /> times be construed and interpreted as consistent with all federal laws and regulations governing the <br /> activities of the Association and governing the tax exempt status of the Association, and in the event that <br /> these By-laws may be inconsistent with such laws and regulations, the same shall be deemed amended to <br /> comply therewith. Whenever used in these By-laws, unless the context otherwise indicates, a pronoun in <br /> the masculine gender shall include the feminine gender and the singular shall include the plural, and vice <br /> versa. <br /> 14.4 All other by-laws repealed and replaced. Upon adoption of these Bylaws by the <br /> association, all other bylaws of the Upper Neuse River Basin Association, Inc. are repealed and <br /> replaced. <br /> 11 <br />
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