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ARTICLE 1 – Name
ARTICLE 2 - Purpose
The Corporation shall conduct its activities at all times to conform to the
requirements for tax exemption under Section 501(c) (7) of the U.S. Internal
Revenue Code. Furthermore, the Corporation shall not conduct or participate in
any political activities related to the election of any person to public office, nor
shall it participate in any attempt to influence legislation.
The Corporation is not organized for profit, and no part of the net earnings of
the Corporation shall inure to the benefit of any individual member.
Upon dissolution of the Corporation, assets shall be distributed for one or more
of the exempt purposes within the meaning of Section 501(c) (7) of the U.S.
Internal Revenue Code, or the corresponding section of any future federal tax
code, or shall be distributed to the federal government, or to a state or local
government, for public purposes. Any such assets not so disposed of shall be
disposed of by a court of competent jurisdiction, exclusively for such purposes
or to such organizations as the court shall determine appropriate, but not
inconsistent with the disposal of assets within the meaning of Section 501(c) (7)
of the U.S. Internal Revenue Code. In the event of liquidation or dissolution, no
member shall be entitled to any distribution or division of the Corporation’s
remaining property or its proceeds.
The Corporation shall not engage in any self-dealing as defined in the Internal
Revenue Code, or the corresponding section of any future federal tax. The
Corporation shall not retain any excess business holdings as defined in the
Internal Revenue Code, or the corresponding section of any future federal tax
code.
The Corporation shall not make any investments in such a manner as to subject
it to tax under the Internal Revenue Code, or the corresponding section of any
future federal tax code.
The Corporation shall not make any taxable expenditure as defined in the
Internal Revenue Code, or the corresponding section of any future federal tax
code.
ARTICLE 3 - Membership
ARTICLE 4 - Officers
ARTICLE 5 - Directors
The Incorporators shall select the first Directors. Thereafter, an election for
Officers and Directors shall be held at the annual meeting in October of each
year unless exigent circumstances prevent the annual meeting to be held in
October. In such circumstances, the next regular meeting of the Membership of
the Club shall be deemed the Annual Meeting and shall elect its Officers and
Directors at that time. Election of Officers and Directors shall be determined by
a majority vote of the members in good standing who are physically present at
the annual meeting. There shall be no vote by proxy for the election of Officers
and Directors. All Officers so elected at the Annual Meeting shall be also
elected as Directors of the Corporation simultaneously. No other Directors shall
be elected by the Membership of the Club. Additional Directors of the
Corporation shall be drawn each year from the Chair of each Standing
Committee created and elected by the Board of Directors in furtherance of the
Purpose of the Corporation.
Richmond Dive Club, Inc. October 5, 1999, as amended March 9, 2004 and as
amended October 4, 2017.