Articles of Incorporation of Colorado Blue Wave Martial Arts
Note: The following and any other official documents can be obtained
from the Secretary of State of Colorado,
http://www.sos.state.co.us/.
Formed under Colorado Non-Profit Law
The nonprofit corporation is formed under the Colorado Revised
Nonprofit Corporation Act.
No voting members
The corporation will not have voting members.
Purpose: Education
Said corporation is organized exclusively for the educational purpose of teaching Tae Kwon Do Chung Do Kwan martial arts to Colorado families and individuals, including for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code.
Non-Profit
No part of the net earnings of the corporation shall inure to the benefit of, or be distributable to its members, directors, or other private persons, except that the corporation shall be authorized and empowered to pay reasonable compensations for services rendered and to make payments and distributions in furtherance of the purposes set forth in Article Third hereof. No substantial part of the activities of the corporation shall be the carrying on of propaganda, or otherwise attempting to influence legislation, and the corporation shall not participate in, or intervene in (including the publishing or distribution of statements) any political campaign on behalf of or in oppositions to any candidate for public office. Notwithstanding any other provisions of these articles, the corporation shall not carry on any other activities not permitted to be carried on (a) by a corporation exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, or (b) by a corporation contributions to which are deductible under section 170(c)(2) of the Internal Revenue Code, of the corresponding section of any future federal tax code.
Notwithstanding any other provision of these articles, this corporation shall not, except to an insubstantial degree, engage in any activities or exercise any powers that are not in furtherance of the purposes of this corporation.
Distribution of assets on dissolution
Upon dissolution of the corporation, assets shall be distributed for one or more exempt purposes within the meaning of section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code or shall be distributed to the federal government for a public purpose. Any such assets not so disposed shall be disposed of by a Court of Competent Jurisdiction of the county in which the principal office of the corporation is then located, exclusively for such purposes or to such organization, or organizations as said Court shall determine, which are organized and operated exclusively for such purposes.
Debt obligations and personal liability
No member, officer or Director of this corporation shall be personally liable for the debts or obligations of this corporation of any nature whatsoever, nor shall any of the property of the members, officers or Directors be subject to the payment of the debts or obligations of this corporation.
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