Commit c1709876 authored by Stephen Michel's avatar Stephen Michel

Fix articles of incorporation header formatting

parent e3c37d41
......@@ -9,15 +9,15 @@ Below are our Articles as filed with the State of Michigan.
Note: we intend to amend this prior to accepting our full [Bylaws](bylaws) because we have updated policies, adjusted goals, and other information from legal counsel. So these Articles will be fully revised accordingly, once the Bylaws are finalized.
##ARTICLES OF INCORPORATION
## ARTICLES OF INCORPORATION
**Pursuant to the provisions of Act 162, Public Acts of 1982, the undersigned corporation executes the following Articles:**
###ARTICLE I
### ARTICLE I
The name of the corporation is Snowdrift.coop.
###ARTICLE II
### ARTICLE II
The purposes for which the corporation is organized are:
......@@ -25,7 +25,7 @@ To provide a platform enabling the public to better discover, access, and suppor
*Snowdrift.coop is organized and operated exclusively for the promotion of public welfare within the meaning of IRC Section 501(c)(4) of the Internal Revenue Code of 1986, as amended, or the corresponding provisions of any future United States internal revenue law (the "Code").*
###ARTICLE III
### ARTICLE III
The corporation is organized upon a nonstock basis.
......@@ -37,30 +37,30 @@ c. The corporation is to be financed under the following general plan:
d. The corporation is organized on a membership basis.
###ARTICLE IV
### ARTICLE IV
1. The name of the registered agent at the registered office is Aaron Wolf.
2. The address of its registered office in Michigan is --- --- ---, Ann Arbor, MI 4810-
###ARTICLE V
### ARTICLE V
The names and address of the incorporator is as follows:
Aaron Wolf --- --- --- Ann Arbor, MI 4810-
###ARTICLE VI
### ARTICLE VI
*This corporation is organized and operated exclusively for social welfare purposes within the meaning of Section 501(c)(4) of the Code. Notwithstanding any other provision of these Articles, this corporation shall not carry on any activities not permitted to be carried on by a corporation exempt from federal income tax under Section 501(c)(4) of the Code. No part of the net income or net assets of the Corporation shall inure to the benefit of its directors, officers, members, or private persons. However, the corporation is authorized to pay reasonable compensation for services actually rendered and to make payments and distributions in furtherance of its tax exempt purposes. Upon the dissolution or winding up of this corporation, its assets remaining after payment, or provision for payment, of all debts and liabilities of this corporation shall be distributed to a nonprofit fund, foundation or corporation which is organized and operated exclusively for social welfare purposes and which has established its tax exempt status under Section 501(c)(4) of the Code.*
###ARTICLE VII
### ARTICLE VII
*The Corporation is organized on a cooperative basis pursuant to Chapter 11 of the Nonprofit Corporation Act, Act 162 of 1982.* Membership is organized on a nonredeemable periodic membership fee basis *and shall be available to all patrons. Classes of membership shall be determined only by type of patronage.*
###ARTICLE VIII
### ARTICLE VIII
*After incorporation, the Bylaws of the Corporation shall be adopted by the Interim Board of Directors and ratified at the first meeting of the members.* After initial ratification, the Bylaws may be amended by either (A) a consensus vote of the Board of Directors or by (B) a two-thirds vote of the Board of Directors along with ratification by a majority vote of the general membership.
###ARTICLE IX
### ARTICLE IX
*Net savings (up to but not exceeding the amount of member fees contributed during the fiscal year) shall be distributed to members according to patronage or allocated to retained earnings, operating costs or capital expenditures of the cooperative to reduce the costs of goods, facilities, or services, to improve the quality provided or otherwise to further the common benefit of the patrons.*
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