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8. Provisions Regarding Distribution of the Corporation's Assets Upon Dissolution. <br /> (a) In the event of the dissolution of the corporation, or the winding up of its <br /> affairs, or other liquidation of its assets, the corporation's property shall not be conveyed to any <br /> organization created or operated for profit and all assets remaining after the payment of the <br /> corporation's debts shall be conveyed or distributed only to an organization or organizations <br /> created and operated for nonprofit purposes similar to those of the corporation. <br /> (h) In the event of dissolution, the residual assets of the organization will be <br /> turned over to one or more organizations which themselves are exempt as organizations <br /> described in §501(c)(3) and §170(c)(2) of the Internal Revenue Code of 1954 or corresponding <br /> sections of any prior or future law, or to the federal, state or local governments. <br /> 1 <br />