Proposed Amendments to bylaws
Amendment ONE
6.3 No part of the net earnings of the organization shall inure to
the benefit of, or be distributable to its members,
trustees. Officers. Or other private
persons, except that SCOT shall be authorized and empowered to pay
reasonable compensation for authorized services rendered or
authorized cost incurred, and to make payments and distributions
in furtherance of the purposes set forth in this Article. No
substantial part of the activities of SCOT shall be the carrying
on of propaganda, or otherwise attempting to influence
legislation, and SCOT shall not participate in, or intervene in
(including the publishing and distribution of statements) of any
political campaign on behalf of or in opposition to any candidate
for public office. Notwithstanding any other provision of these
Articles, SCOT shall not carry on any other activities not
permitted to be carried on (a) by a corporation exempt from
federal income tax under Section 501(c)(3) of the Internal Revenue
Code of 1986, or in the corresponding section of any future
federal tax code, or (b) by a corporation, contributions to which
are deductible under section 170(c)(2) of the Internal Revenue
Code of 1986, or the corresponding section of any future federal
tax code.
Amendment TWO
6.4 Dissolution. Upon the dissolution of the corporation, assets shall
be distributed for one or more exempt purposes within the meaning
of 501(c)(3) of the Internal Revenue Code, or the corresponding
section of any futurefederal tax code, or shall be distributed to
the federal government, for a public purpose.Any such assets not
so disposed of shall be disposed of by a Court of Competent
Jurisdiction of the county in which the principal office of the
corporation is then located, exclusively for such purposes or to
such organization or organizations, as said Court shall determine,
which are organized and operated exclusively for such purposes.
Last modified: Thu Jul 12 14:07:30 CDT 2001