Actorsingers Bylaws

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ARTICLE II
POWERS, FUNCTIONS AND DISSOLUTION

Section 1. Powers. The organization shall have all the powers and enjoy all the privileges granted by the laws of New Hampshire under the provisions of Chapter 292 of the Revised Statutes Annotated and the original Articles of Agreement.

The powers of the Board of Directors of the organization shall not extend beyond any of the provisions contained in these Bylaws. All other powers are reserved to the members who are voting and active.

Section 2. Corporate Functions. This organization is to be considered a nonprofit, charitable organization. No pecuniary gain or profit, incidental or otherwise, to members of the organization is contemplated.

There shall be no capital stock of the organization. It is organized and operated exclusively for nonprofit purposes.

Section 3. Corporate Life and Dissolution. The term for which this organization is to exist is perpetual.

In the event of dissolution of the organization, on the vote of two-thirds of its voting membership, the Board of Directors shall adopt a plan of distribution. On dissolution, whether voluntary or involuntary, the net assets remaining after the payment of all debts, shall be distributed to, between or among one or more organizations of a charitable, educational or nonprofit status. These organizations must be located in Nashua, NH and be exempt from Federal Income Tax under Section 501(c)(3) of the Internal Revenue Code of 1954 or corresponding provisions of any such future law. Such nonprofit organization(s) shall have purposes and functions which are similar in character to those of this organization. The same two-thirds vote of the voting membership will be required to determine such organization(s).