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Public Bylaws Public Counsel Form

Public Bylaws Public Counsel Form

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Instructions and help about Public Bylaws Public Counsel Form

what our nonprofit public benefit corporations a public benefit corporation must be formed for public or charitable purposes and cannot be formed for private game of any individual public benefit purposes include organizations such as childcare centers shelters for homeless people community health care clinics museums hospitals schools performing arts groups conservation groups and affordable housing groups the public benefit corporation is legally restricted in that all its assets must be irrevocably dedicated to charitable scientific or educational purposes in this sense the nonprofit corporation is owned by the public no private individual can claim ownership of the corporation the board of directors and no officers cannot own the corporation's assets for this reason the public benefit corporation cannot distribute dividends to any individual if the organizers of the public benefit corporation later decide to terminate the corporation that assets must be transferred to anoth

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