Common use of Prohibition Against Private Inurement Clause in Contracts

Prohibition Against Private Inurement. No part of the net earnings of the Corporation shall inure to the benefit of, or be distributable to its Members, Directors or trustees, officers, or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes of the Corporation.

Prohibition Against Private Inurement. No part of the net earnings of the Corporation this corporation shall inure to the benefit of, or be distributable to to, its Membersmembers, Directors directors or trustees, officers, or other private persons, except that the Corporation corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes of the Corporationthis corporation.

Prohibition Against Private Inurement. No part of the net earnings of the Corporation this corporation shall inure to the benefit of, or be distributable to its Members, Directors directors or trustees, officers, or other private persons, except that the Corporation corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes of the Corporationthis corporation.

Prohibition Against Private Inurement. No part of the net earnings of the Corporation shall inure to the benefit of, or be distributable to distributed to, its Members, Directors or trusteesTrustees, officers, or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes of the Corporation.