Common use of Charter School Legal Status Clause in Contracts

Charter School Legal Status. The School will operate under the authority of the Board of Directors of the School , (“School Board”) which shall remain incorporated as a Colorado nonprofit corporation and will timely establish and maintain its tax exempt status under Section 501(c)(3) of the Internal Revenue Code. The School will operate as a Colorado non- profit corporation and the School Board will assure that its operation is in accordance with its articles of incorporation and bylaws. In addition, the School Board agrees to comply with all necessary filing and reporting requirements in order to maintain tax exempt status. The School Board will notify the Institute promptly of any change in its corporate and/or tax exempt status. The School is to remain organized and maintained as a separate legal entity from the Institute for all purposes of this Contract. As provided by the Charter Schools Act, the School will constitute a public school in Colorado. Notwithstanding its existence as a separate legal entity, the educational programs conducted by the School are considered to be operated by the School as part of the Institute. As such, the School is subject to Colorado laws and Institute policies that are applicable to public schools unless waived in accordance Section 5.9 of this Contract.

Charter School Legal Status. The School will operate under the authority of the Board of Directors of the School School, (“School Board”) which shall remain incorporated as a Colorado nonprofit corporation and will timely establish and maintain its tax exempt status under Section 501(c)(3) of the Internal Revenue Code. The School will operate as a Colorado non- non-profit corporation and the School Board will assure that its operation is in accordance with its articles of incorporation and bylaws. In addition, the School Board agrees to comply with all necessary filing and reporting requirements in order to maintain tax exempt status. The School Board will notify the Institute promptly of any change in its corporate and/or tax exempt status. The School is to remain organized and maintained as a separate legal entity from the Institute for all purposes of this Contract. As provided by the Charter Schools Act, the School will constitute a public school in Colorado. Notwithstanding its existence as a separate legal entity, the educational programs conducted by the School are considered to be operated by the School as part of the Institute. As such, the School is subject to Colorado laws and Institute policies that are applicable to public schools unless waived in accordance Section 5.9 of this Contract.