Tax Information Package
01-01-1978
East Wind
Tax Information Package - EW-TXP3
Change in By-Laws Proposed
ARTICLE V. Dissolution:
Presently, the above article of our by-laws reads:
"The community may be dissolved by two-thirds majority of the full members. In the event of dissolution of the community, any assets remaining after payment of the community's debts shall not be given to any members, past or present, of the community, but shall go in their entirety to another organization similar to East Wind and containing in their by-laws an article similar to this, the choice of said organization being left to the discretion of the majority vote of the members remaining at the time of said dissolution".
The proposed change of and by the Federation of Egalitarian Communities to the article reads:
"The community may be dissolved by two-thirds majority of the full members. In the event that the community dissolves, The Federation of Egalitarian Communities Inc., is named the recipient of any residual community assets remaining after the payment of any outstanding community debts, providing that East Wind Community is a member of said Federation at the time of dissolution, and providing that the Federation is still in existence at that time. In the event that the Federation is not in existence at the time of the dissolution, then any assets remaining after payment of the community's outstanding debts shall not be given to any member, past of present, of the community, but shall go in their entirety to another organization similar to East Wind and containing in their by-laws an article similar to this, the choice of said organization being left to the discretion of a majority vote of the full members remaining at the time of said dissolution".
THE ABOVE WAS DISCUSSED IN COMMUNITY MEETING ON SATURDAY NOVEMBER 1, 1986. Ballots on the proposed change will be distributed to Full Members for vote on Monday, November 3, 1986. The ballots should be returned to Either Don's box (A-1), or the Marcos' mailbox (F-3).
By Marcos for Federation of Egalitarian Communities
