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Agenda - 11-05-2003-9a
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Agenda - 11-05-2003-9a
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Last modified
9/2/2008 1:14:48 AM
Creation date
8/29/2008 10:35:24 AM
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BOCC
Date
11/5/2003
Document Type
Agenda
Agenda Item
9a
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Minutes - 20031105
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\Board of County Commissioners\Minutes - Approved\2000's\2003
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15 <br />agency with an exempt purpose within the meaning of'section 501(c)(3) of the Internal Revenue <br />Code (or a corresponding section of any future Federal tax code) which is also a purpose similar <br />to that of the Corporation, or transfer and convey all remaining assets of the Corporation to <br />Orange County, a body politic of the State of North Carolina, for exclusively public purposes. <br />Any such assets not so disposed of shall be disposed of by the Court of Common Pleas (known in <br />the State of North Cazolina as the Superior Court) of the county in which the principal office of <br />the corporation is then located, exclusively for such purposes or to such organization or <br />organizations, as said Court shall determine, which are organized and operated exclusively for <br />such purposes. <br />Section Seven. Pursuant to N.C.G.S. 55A-10-30, no amendment to any pazt of these <br />Articles of Incorporation shall be effective unless and until such amendment is approved in <br />writing by a majority of the then acting Board of County Commissioners for Orange County, <br />North Carolina. In addition, amendment of provisions stated in these Articles of Incorporation <br />reguding: (i) the management of the Corporation; (ii) the qualification of directors; (iii) merger; <br />(iv) acquisition; (v) sale of assets; (vi) purchase of assets; and (vii) the distribution of assets upon <br />dissolution shall require the unanimous vote of all directors in office at the time such amendment <br />is undertaken. <br />Section Eiaht, Provisions regazding the management of the Corporation, the qualification <br />of directors, merger, acquisition, sale of assets, purchase of assets and the distribution of assets <br />upon dissolution, as stated in By-laws adopted by the Corporation, may not conflict with <br />provisions regarding the management of the Corporation and the qualification of directors and <br />the distribution of assets upon dissolution as stated in these Articles of Incorporation. <br />
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