User Tools

Site Tools


policy_documents:articles_of_incorporation:articles_of_incorporation

Differences

This shows you the differences between two versions of the page.

Link to this comparison view

Both sides previous revisionPrevious revision
Next revision
Previous revision
policy_documents:articles_of_incorporation:articles_of_incorporation [2019/03/10 13:21] presidentpolicy_documents:articles_of_incorporation:articles_of_incorporation [2020/01/10 12:41] (current) itadmin
Line 9: Line 9:
 The purpose or purposes for which the corporation is formed are as follows: The purpose or purposes for which the corporation is formed are as follows:
  
-  - A. The MSU Student Housing Cooperative, Inc. is organized exclusively for educational and charitable purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1954. No substantial portion of either its funds or activities may be directed at any time to other purposes. Its primary purposes are: +  - **A.** The MSU Student Housing Cooperative, Inc. is organized exclusively for educational and charitable purposes within the meaning of Section %%501(c)(3)%% of the Internal Revenue Code of 1954. No substantial portion of either its funds or activities may be directed at any time to other purposes. Its primary purposes are: 
-    - a. To promote the social and general welfare of Michigan State University and the community, by offering low rent housing and other services, regardless of age, color, gender, gender identity, disability status, height, marital status, national origin, political persuasion, race, religion, sexual orientation, veteran status, or weight and thus to influence the community to eliminate discrimination in housing. +    - **a.** To promote the social and general welfare of Michigan State University and the community, by offering low rent housing and other services, regardless of age, color, gender, gender identity, disability status, height, marital status, national origin, political persuasion, race, religion, sexual orientation, veteran status, or weight and thus to influence the community to eliminate discrimination in housing. 
-    - b. To advance the cause of education by providing inexpensive board and lodging for university students with limited resources, so that those who might not otherwise be able to continue at the University, because of economic reasons, may enjoy the benefits of higher education. +    - **b.** To advance the cause of education by providing inexpensive board and lodging for university students with limited resources, so that those who might not otherwise be able to continue at the University, because of economic reasons, may enjoy the benefits of higher education. 
-    - c. To be inclusive of underrepresented and marginalized groups of the community, including providing housing for any low-income or moderate income members, pursuant to the United States Revenue Ruling 96-32 income limits, and to continually expand and extend those facilities in the community interest. +    - **c.** To be inclusive of underrepresented and marginalized groups of the community, including providing housing for any low-income or moderate income members, pursuant to the United States Revenue Ruling 96-32 income limits, and to continually expand and extend those facilities in the community interest. 
-    - d. To initiate, coordinate, direct, and otherwise participate in educational efforts and programs for the education of its members and others. +    - **d.** To initiate, coordinate, direct, and otherwise participate in educational efforts and programs for the education of its members and others. 
-    - e.(Deleted by amendment, December 3, 1971.) +    - **e.**(Deleted by amendment, December 3, 1971.) 
  
  
-  - B. To further the primary purpose of this organization, the corporation shall be empowered to, but not limited to, do the following: +  - **B.** To further the primary purpose of this organization, the corporation shall be empowered to, but not limited to, do the following: 
-    - a. Own, lease, and operate dormitories, dwelling units, and boarding units, and to provide other facilities and services for university students. +    - **a.** Own, lease, and operate dormitories, dwelling units, and boarding units, and to provide other facilities and services for university students. 
-    - b. Do all things expedient and necessary for the furtherance of the primary purposes of the organization.+    - **b.** Do all things expedient and necessary for the furtherance of the primary purposes of the organization.
  
-  - C.This corporation may not engage in, otherwise than as an insubstantial part of its activities, any activities which are not in furtherance of its tax exempt purposes.+  - **C.**This corporation may not engage in, otherwise than as an insubstantial part of its activities, any activities which are not in furtherance of its tax exempt purposes.
  
 (As Restated April 1, 2002) The corporation is organized on a non-stock basis. (As Restated April 1, 2002) The corporation is organized on a non-stock basis.
Line 43: Line 43:
 ^ 11  | Shadowwood                | 505 M.A.C.         |190,900                                          | ^ 11  | Shadowwood                | 505 M.A.C.         |190,900                                          |
 ^ 12  | Toad Lane & New Community | 415 & 425 Ann      |184,300                                          | ^ 12  | Toad Lane & New Community | 415 & 425 Ann      |184,300                                          |
-^                                                  |**$1557,000**                                    |+^                                                  |**$1,557,000**                                    |
 and the description of its personal property assets are: $10,000 office equipment.  and the description of its personal property assets are: $10,000 office equipment. 
 (The valuation of the above assets was as of May 13, 2002)\\ (The valuation of the above assets was as of May 13, 2002)\\
Line 108: Line 108:
 The term of the corporate existence is perpetual. The term of the corporate existence is perpetual.
  
-  - A. The mode of procedure and the manner in which the business and affairs of this corporation shall be conducted in accordance with the Statutes of the State of Michigan. Neither interest nor dividends shall be paid upon the paid in membership capital of this corporation. Only members in good standing or their duly appointed or elected representatives shall be eligible to hold office as a director or officer of this corporation. Voluntary dissolution of said corporation shall require approval at a membership meeting of, at least, two-thirds (2/3) of the membership in good standing of said corporation, voting in person, and not by proxy, or of such greater number as may be required by law. In the event of any dissolution of this corporation:+  - **A.** The mode of procedure and the manner in which the business and affairs of this corporation shall be conducted in accordance with the Statutes of the State of Michigan. Neither interest nor dividends shall be paid upon the paid in membership capital of this corporation. Only members in good standing or their duly appointed or elected representatives shall be eligible to hold office as a director or officer of this corporation. Voluntary dissolution of said corporation shall require approval at a membership meeting of, at least, two-thirds (2/3) of the membership in good standing of said corporation, voting in person, and not by proxy, or of such greater number as may be required by law. In the event of any dissolution of this corporation:
  
-  - B. (As amended October 28, 1977) None of the corporation assets shall accrue or inure to the benefit of any member upon dissolution of the corporation, or at any other time, except as set forth in Article V.+  - **B.** (As amended October 28, 1977) None of the corporation assets shall accrue or inure to the benefit of any member upon dissolution of the corporation, or at any other time, except as set forth in Article V.
  
-  - C. (As amended December 3, 1971) In the event of dissolution, all assets, real and personal, shall be distributed to such organizations as are qualified as tax exempt as defined in Section 501(c)(3) of the Internal Revenue Code of 1954 or the corresponding provision of a future United States Internal Revenue Law.+  - **C.** (As amended December 3, 1971) In the event of dissolution, all assets, real and personal, shall be distributed to such organizations as are qualified as tax exempt as defined in Section 501(c)(3) of the Internal Revenue Code of 1954 or the corresponding provision of a future United States Internal Revenue Law.
  
-  - D. This article shall not be amended other than by a vote of two-thirds (2/3) of the members in good standing of said corporation at a regular or special membership meeting. Said votes shall be in person and not by proxy, and shall be held at polling places as may be designated by the board of directors.+  - **D.** This article shall not be amended other than by a vote of two-thirds (2/3) of the members in good standing of said corporation at a regular or special membership meeting. Said votes shall be in person and not by proxy, and shall be held at polling places as may be designated by the board of directors.
  
 (Added by amendment July 19, 1977) (Added by amendment July 19, 1977)
Line 133: Line 133:
  
 The cooperative plan is set up as follows: Each member is entitled to on vote regardless of the number of shares or memberships owned. The cooperative plan is set up as follows: Each member is entitled to on vote regardless of the number of shares or memberships owned.
 +
 +----
 +\\
 +
 +~~DISCUSSION~~
policy_documents/articles_of_incorporation/articles_of_incorporation.1552249297.txt.gz · Last modified: 2019/03/10 13:21 by president