Page 321 - CFESA 2017 Membership Directory

Section 2: Dissolution
The Corporation shall use its funds only to accomplish the objectives and purposes specified
in these bylaws, and no parts of said funds shall inure, or be distributed, to the members of
the Corporation or its officers and directors, except for reasonable compensation for
services rendered or reimbursement of approved expenses. On dissolution of the
Corporation, any funds remaining after payment of indebtedness shall be distributed to one
(1) or more regularly organized charitable, educational, scientific or philanthropic
organizations to be selected by the Board of Directors, which organizations are qualified as
not for profit organizations under the Internal Revenue Code of the United States