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ARTICLE VIII: Dissolution
SECTION 1 – Instructions for Dissolution.
Upon the dissolution of the Hill LOA, assets shall be distributed for one or
more exempt purposes within the meaning of Section 501 (c)(6) of the Internal
Revenue Code, or corresponding section of any future federal tax code, or shall
be distributed to the federal government, or to a state or local government, for
the public purpose. Section 501 (c)(6) states that the assets of the
organization may not go to the elected officers at the time of dissolution, but
must be equally divided among the membership or donated to any charity or other
cause as chosen by the membership. Any such assets not so disposed of shall be
disposed of by the Circuit Court of the county (city) in which the principal
office of the Hill LOA is then located. The funds will be disposed of
exclusively for such purposes, or to such organization or organizations, as said
Court shall determine, which are organized and operated exclusively for such
purposes.
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