Orange County NC Website
Browse       Search
15 <br /> Bylaws of Launch <br /> A Nonprofit Corporation <br /> Article I—Name, Offices, Purposes <br /> 1. The name of the corporation shall be Launch(the "Corporation"). <br /> 2. The principal office of Launch shall be located in Chapel Hill, NC, or such other <br /> place as may be determined by the Board of Directors. <br /> 3. The Corporation has been formed to foster new business opportunities and <br /> educate entrepreneurs in local communities to further their potential. <br /> 4. Purpose: The Corporation is organized exclusively for charitable and educational <br /> purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of <br /> 1986, as amended, or the corresponding provision of the United States Internal <br /> Revenue law. The primary purposes of this Corporation shall be as follows: <br /> a. To act as an educational center for entrepreneurial businesses; <br /> b. To create synergy among entrepreneurs and promote small business <br /> development; <br /> c. To develop and create physical and virtual space for entrepreneurs in <br /> Orange County and surrounding communities; <br /> d. To carry on any other activities permitted by organizations exempt from <br /> Federal income tax under Section 501(c)(3) of the Internal Revenue Code, <br /> as the same now exists or as it may hereafter be amended. <br /> Article IT—Membership <br /> This corporation has no membership. <br /> Article III—Board of Directors <br /> 1. Duties and Authority <br /> a. The Board of Directors shall have all of the legal and professional duties <br /> required under the laws of the State of North Carolina. <br /> b. The Board of Directors shall appoint the officers of the Corporation as set <br /> forth in Article VII. <br /> c. The Board of Directors may make such rules and regulations covering its <br /> meetings as it may in its discretion determine necessary. <br /> d. The Board of Directors shall conduct a formal review of the performance <br /> of the primary Launch staff, including Program Coordinator, Operations <br /> Coordinator, and Program Coordinator at least once per year. <br /> 2. Structure <br /> a. The Board of Directors shall consist of at least 3, but no more than 15, <br /> persons. <br />