Asked by Daniil Yagolnikov on Apr 25, 2024
Verified
A nonprofit corporation will limit its powers pursuant to what?
A) The nonprofit corporation's purpose clause
B) The nonprofit corporation's articles of organization
C) The majority vote of the general class of shareholders
D) The majority vote of the preferred class of shareholders
Nonprofit Corporation
A legal entity organized for purposes other than making a profit, often focused on charitable, religious, educational, or public service objectives.
Purpose Clause
A segment within a legal document that specifies the intentions or objectives that the parties aim to achieve with the contract or agreement.
Articles Of Organization
The document filed with a state government to legally document the creation of a limited liability company (LLC).
- Identify the legal and regulatory requirements specific to nonprofit corporations.
Verified Answer
Learning Objectives
- Identify the legal and regulatory requirements specific to nonprofit corporations.
Related questions
A 501(c)(3) Organization Can Engage in Lobbying Without Restriction
Nonprofits File a Form 990 with the Internal Revenue Service ...
Explain Why Nonprofit Organizations Are Becoming More Interested in Pursuing ...
There Are Specific Best Practice Standards That Nonprofit Organizations Are ...
Organizations That Exist for the Sole Purpose of Directing Money ...