Common use of LEGAL PERSONALITY Clause in Contracts

LEGAL PERSONALITY. 7.1 The ASSOCIATION is a legal persona and may exercise all the powers of a corporate body including the owning of assets, contracting and the right to conduct legal proceedings in its own name. 7.2 The ASSOCIATION shall xxx and be sued in the name of the ASSOCIATION and the domicilium citandi et executandi will be 00 Xxxxxx Xxxxxx Street, Windhoek. 7.3 Members of the ASSOCIATION, including all Trustees, are not personally liable for any decisions taken by the ASSOCIATION or in the name of the ASSOCIATION. 7.4 All assets and liabilities of the ASSOCIATION belong to the ASSOCIATION independent of its Members. Thus, no asset of the ASSOCIATION can be claimed as a private asset by any of its Members, nor can the ASSOCIATION claim any of the assets of a Member as an ASSOCIATION asset. 7.5 The ASSOCIATION is not permitted to distribute any of its profits or gains to any person and is required to utilize its funds solely for investment or the objects for which it has been established or otherwise deal with it in terms of clause 17 infra.

LEGAL PERSONALITY. 7.1 The ASSOCIATION is a legal persona and may exercise all the powers of a corporate body including the owning of assets, contracting and the right to conduct legal proceedings in its own name. 7.2 The ASSOCIATION shall xxx sue and be sued in the name of the ASSOCIATION and the domicilium citandi et executandi will be 00 Xxxxxx Xxxxxx Street, Windhoek. 7.3 Members of the ASSOCIATION, including all Trustees, are not personally liable for any decisions taken by the ASSOCIATION or in the name of the ASSOCIATION. 7.4 All assets and liabilities of the ASSOCIATION belong to the ASSOCIATION independent of its Members. Thus, no asset of the ASSOCIATION can be claimed as a private asset by any of its Members, nor can the ASSOCIATION claim any of the assets of a Member as an ASSOCIATION asset. 7.5 The ASSOCIATION is not permitted to distribute any of its profits or gains to any person and is required to utilize its funds solely for investment or the objects for which it has been established or otherwise deal with it in terms of clause 17 infra.