Common use of Maintenance of Corporate Status; Tax Exemptions Clause in Contracts

Maintenance of Corporate Status; Tax Exemptions. The Charter School shall maintain its status as an education corporation. The Board shall obtain federal tax-exempt status no later than one (1) year following the Effective Date. The Charter School shall provide the Regents with copies of all applications and filings relating to its seeking and maintaining its federal tax-exempt status and shall immediately notify the Regents of any action by the Internal Revenue Service to withdraw the school’s status as a §501(c)(3) entity.

Maintenance of Corporate Status; Tax Exemptions. The Charter School shall maintain its status as an education corporation. The Board shall obtain corporation and its federal tax-exempt status no later than one (1) year following the Effective Datestatus. The Charter School shall provide the Regents with copies of all applications and filings relating to its seeking and maintaining its federal tax-exempt status and shall immediately notify the Regents of any action by the Internal Revenue Service to withdraw the school’s status as a §501(c)(3) entity.