SPECIAL NOTICE TO MEMBERS OF THE Poto MBA
The board of directors of the Poto MBA have concluded that it is in the best interest of the membership to obtain our own 501c3 status. This will allow us some flexibility as we evaluate the best interest of our chapter moving forward. Without our own nonprofit status, we are subject to decisions made on a national level that may or may not be in our best interest. Furthermore if we continue to operate as a subordinate of a national organization, our assets could be in jeopardy in some situations. This is a complicated process that involves changes to our Chapter Articles of Incorporation. We are asking you to review the attached amendments and vote on the topic.
Therefore: A special meeting is being held electronically to consider amendments to the organization’s Articles of Incorporation pursuant to Michigan’s Nonprofit Corporations Act (MCL 450.261). The proposed revised articles of incorporation are included with this notice. Substantive changes to the Articles of Incorporation include amending Article VII of the Articles of Incorporation to include language that no member or director of this corporation shall be eligible to make a profit from the corporation. Additionally, Article VIII shall be revised to discuss the dissolution of a non-profit corporation. Article IX shall indemnify members. The purpose of these amendments are to qualify the Poto MBA for an independent 501c3 non-profit status.