Not for Profit Corporation Act definition

Not for Profit Corporation Act means the Illinois General Not for Profit Corporation Act of 1986, as amended.
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Not for Profit Corporation Act means the Illinois General Not for Profit Corporation Act of 1986, as amended. A “Section” of “the Code” means a section of the Internal Revenue Code of 1986, as amended, and shall include future amendments to such section and corresponding provisions of future provisions of future federal tax laws, all as from time to time in effect.
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Examples of Not for Profit Corporation Act in a sentence

  • A common interest community association organized under the General Not for Profit Corporation Act of 1986 and having either (i) 10 units or less or (ii) annual budgeted assessments of $100,000 or less shall be exempt from this Act unless the association affirmatively elects to be covered by this Act by a majority of its directors or members.

  • If authorized by the Board of Directors, the Chapter may purchase and maintain insurance on behalf of any person to the full extent permitted by the Illinois General Not for Profit Corporation Act of 1986, as in effect at the time of the adoption of these Bylaws or as amended from time to time, and by any subsequent Illinois not for profit corporation law.

  • The Board of Directors may delegate to such Board Committees authority to act on behalf of the Board of Directors, except as may be prohibited by the Not for Profit Corporation Act.

  • The provisions of Section 112.45 of this Act relating to reinstatement following administrative dissolution of a domestic corporation shall apply to all corporations involuntarily dissolved after June 30, 1974, by the Secretary of State, pursuant to Section 50a of the "General Not for Profit Corporation Act", approved July 17, 1943, as amended.

  • Notification of meetings stating the time, date and place of meetings shall be distributed to each Director at least 14 days in advance, unless otherwise required by the Not for Profit Corporation Act or these Bylaws.

  • In addition to the powers granted by the Articles of Incorporation and by these Amended and Restated Bylaws (these “Bylaws”), the Association shall have all powers as are now or may hereafter be granted by the Not for Profit Corporation Act.

  • Whenever any notice is required to be given under the provisions of the Not for Profit Corporation Act, the Articles of Incorporation, or these Bylaws, a waiver thereof in writing signed by the Director entitled to such notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice.

  • Whenever any notice is required to be given under the provisions of the Not for Profit Corporation Act, the Articles of Incorporation, or these Bylaws, a waiver thereof in writing signed by the person or persons entitled to such notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice.

  • Unless otherwise required by the Not for Profit Corporation Act or these Bylaws, there shall be no annual or regular meetings of the Members.

  • Mail VoteVoting by mail or electronic means shall be permitted to the full extent allowed by the Illinois General Not for Profit Corporation Act of 1986, as may be amended.

Related to Not for Profit Corporation Act

  • Education Act means the Education Act, R.S.O. 1990, c. E.2, as amended.

  • Michigan economic development corporation means the public body corporate created under section 28 of article VII of the state constitution of 1963 and the urban cooperation act of 1967, 1967 (Ex Sess) PA 7, MCL 124.501 to 124.512, by a contractual interlocal agreement effective April 5, 1999, as amended, between local participating economic development corporations formed under the economic development corporations act, 1974 PA 338, MCL 125.1601 to 125.1636, and the Michigan strategic fund. If the Michigan economic development corporation is unable for any reason to perform its duties under this act, those duties may be exercised by the Michigan strategic fund.

  • Nonprofit organization means a university or other institution of higher education or an organization of the type described in section 501(c)(3) of the Internal Revenue Code of 1954 (26 U.S.C. 501(c) and exempt from taxation under section 501(a) of the Internal Revenue Code (25 U.S.C. 501(a)) or any nonprofit scientific or educational organization qualified under a state nonprofit organization statute.

  • Next Michigan development corporation means that term as defined in section 3 of the next Michigan development act, 2010 PA 275, MCL 125.2953.

  • Black woman-owned enterprise means an enterprise with at least 25, 1% representation of black women within the black equity and management portion.