Division and Dissolution of Member Clubs Sample Clauses

Division and Dissolution of Member Clubs. Any member club wishing to divide into two or more clubs may do so provided that the new clubs meet the provisions of this part of the constitution. The new clubs will be admitted to membership in BYSA upon approval of their application and presentation to BYSA that all requirements have been met including club boundaries and areas of jurisdiction. Generally, such division of an existing club should not require one of the new clubs to be placed in probationary status because of team participation (number of teams). Any club wishing to be dissolved shall apply to BYSA, which shall make appropriate arrangements for disposition of the club's funds, satisfaction for unpaid financial obligations and arrangements for teams and registered players. Any club which becomes unsound due to financial reasons, failure to remain in good standing with BYSA or the inability to conduct operations due to lack of officers may be directed by XXXX to dissolve with a two-thirds majority vote of the BYSA Governing Board. If directed to dissolve the club shall make appropriate arrangements for disposition of the club's funds, satisfaction for unpaid financial obligations and arrangements for teams and registered players. If the club is unable to dissolve due to lack of a Governing Board or Club Officers, BYSA will appoint a person or persons to complete the dissolution process with at least one member of the Executive Board directly involved. The remaining clubs within BYSA shall then apply to BYSA to amend their area of jurisdiction contiguous with this area.
Sample 1
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Related to Division and Dissolution of Member Clubs

  • Dissolution and Winding Up The Company shall dissolve and its business and affairs shall be wound up pursuant to a written instrument executed by the Member. In such event, after satisfying creditors, all remaining assets shall be distributed to the Member.

  • Dissolution and Winding Up of the Company Dissolution. The Company will be dissolved on the happening of any of the following events: Sale, transfer, or other disposition of all or substantially all of the property of the Company; The agreement of all of the Members; By operation of law; or The death, incompetence, expulsion, or bankruptcy of a Member, or the occurrence of any event that terminates the continued membership of a Member in the Company, unless there are then remaining at least the minimum number of Members required by law and all of the remaining Members, within 120 days after the date of the event, elect to continue the business of the Company.

  • Dissolution of Entity The Contractor shall notify the County immediately of any intention to discontinue existence of the entity or to bring an action of dissolution.

  • Dissolution and Termination (a) The Company shall not be dissolved by the admission of Substitute Members or Additional Members. The Company shall dissolve, and its affairs shall be wound up, upon:

  • Termination of Membership You may terminate your membership by giving us written notice or by withdrawing your minimum required membership share(s), if any, and closing all your accounts. You may be denied services for causing a loss to the Credit Union, or you may be expelled for any reason as allowed by applicable law.

  • Dissolution and Liquidation (Check One)

  • Dissolution Event If there is a Dissolution Event before the termination of this Safe, the Investor will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Dissolution Event.

  • Printing and Distribution of Agreement The Medical Center and the Association shall equally share expenses for the printing of an adequate supply of copies of this Agreement. The Medical Center will make available a suitable number of copies of the Agreement on each nursing unit following the Association’s delivery of the printed copies to the Medical Center.

  • Events of Dissolution The Company shall be dissolved upon the happening of any of the following events:

  • Winding Up Affairs Upon Termination In the event that this Contract is terminated for any reason, the parties agree that the provisions of this paragraph survive termination:

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