Asked by Grace Sookhai on Jun 11, 2024
Verified
As per the Model Nonprofit Corporation Act (MNCA),a nonprofit corporation need not have members for its existence.
Model Nonprofit Corporation Act
A standardized legislative framework designed to provide guidelines for the formation, operation, and governance of nonprofit organizations.
Nonprofit Corporation
An organization that operates for a charitable, educational, cultural, or social purpose rather than for profit.
Members
Individuals who are part of a group, organization, or body, often with certain rights and responsibilities.
- Distinguish between the traits of non-profit corporations and for-profit corporations as outlined in the MNCA.
Verified Answer
Learning Objectives
- Distinguish between the traits of non-profit corporations and for-profit corporations as outlined in the MNCA.
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