Common use of Assets and Liabilities Clause in Contracts

Assets and Liabilities. 6.1 The parties acknowledge and agree that National maintains the responsibility of protecting the Corporation’s name, reputation, and the IRC tax-exempt status. Because of this responsibility, National has the right to require an audit of Department or Chapter if the circumstances warrant, as determined by the NP and the NEB. Department and/or Chapter expressly agree to participate in such an audit and to make whatever records are necessary available to National for this purpose. Refusal to submit the requested is grounds for the revocation of the Charter.

Assets and Liabilities. 6.1 The parties acknowledge and agree that National maintains the responsibility of protecting the Corporation’s name, reputation, and the IRC tax-exempt status. Because of this responsibility, National has the right to require an audit of Department or Chapter if the circumstances warrant, as determined by the NP and the NEB. Department and/or Chapter expressly agree to participate in such an audit and to make whatever records are necessary available to National for this purpose. Refusal to submit the requested is grounds for the revocation of the Charter.

Assets and Liabilities. 6.1 6.1. The parties acknowledge and agree that National maintains the responsibility of protecting the Corporation’s 's name, reputation, and the IRC IRS tax-exempt statusstat us. Because of this responsibility, National has the right to require an audit of Department or Chapter if the circumstances warrant, as determined described by the NP and the NEB. Department and/or Chapter expressly agree to participate in such an audit and to make whatever records are necessary available to National for this purpose. Refusal to submit the requested is grounds for the revocation of the Charter.

Assets and Liabilities. 6.1 7.1 The parties acknowledge and agree that National maintains the responsibility of protecting the Corporation’s name, reputation, and the 501(c)(3) IRC tax-exempt status. Because of this responsibility, National has the right to require an a financial audit of Department a Department, Chapter, or Chapter Auxiliary if the circumstances warrant. Departments, as determined by the NP and the NEB. Department chapters and/or Chapter Auxiliaries expressly agree to participate in such an audit and to make whatever records are necessary available to National for this purpose. Refusal to submit the requested is grounds for the revocation of the Charterdisbandment.

Assets and Liabilities. 6.1 The parties acknowledge and agree that National maintains the responsibility of protecting the Corporation’s name, reputation, and the IRC tax-exempt status. Because of this responsibility, National has the right to require an audit of Department or Chapter if the circumstances warrant, as determined by the NP and the NEB. Department and/or Chapter expressly agree agrees to participate in such an audit and to make whatever records are necessary available to National for this purpose. Refusal to submit the requested is grounds for the revocation of the Charter.

Assets and Liabilities. 6.1 The parties acknowledge and agree that National maintains the responsibility of protecting the CorporationCorporation ’s name, reputation, and the IRC tax-exempt status. Because of this responsibility, National has the right to require an audit of Department or Chapter if the circumstances warrant, as determined by the NP and the NEB. Department and/or Chapter expressly agree to participate in such an audit and to make whatever records are necessary available to National for this purpose. Refusal to submit the requested is grounds for the revocation of the Charter.