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Page Two
Articles of Incorporation
of
Grant County Historical Society, Inc.
destruction; to acquire real and personal property, and to dispose of the same; and to do all acts and things necessary and incidental and related to these general purposed.
ARTICLE IV
The Corporation shall be composed of one or more classes of members, the designation of such classes or class and the qualifications and rights of the members of each class shall be set forth in the By-Laws. All members shall be eligible to elect directors for the Corporation.
ARTICLE V
Upon dissolution of the corporation, all of its assets shall be transferred to the South Dakota Historical Society or any other non-profit association which the Board of Directors may select at the time of dissolution. No part of the net earnings of the organization shall enure to the benefit of or be distributable to its members, trustees, officers, or other private persons, except that the organization shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set forth in Article III hereof. No substantial part of the activities of the organization shall be the carrying on of propaganda, or otherwise attempting to influence legislation, and organization shall not participate in, or intervene in (including the publishing or distribution of statements) of any political campaign on behalf of any candidated for purblic office. Notwithstanding any other provi sion of these Articles, the organization shall not carry on any other activities not permitted to be carried on (a) by an organization exempt from Federal Income Tax under the Internal Revenue Code as the same may be amended, or (b) by an organization contributions to which are deductible under said Internal Revenue Code of 1954 as the same may be amended.
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