HomeMy WebLinkAboutHEO Articles of Incorporationrao
ARTICLF_S oF INCORPORATION
OF
us -lo9 5040 HouSING AND ECONOWC OPPORTUNrMS, INC.
A Non -Profit Corporation
L.� D
NOY 0 *5 1998
nM UINDWMGNW, being & cif=n of the United States and a naturd person of the age
as the orator for the Oirpose of creating a non-profit
M-Mig faMMI-s—
corporation under the laws of the State of North Carolina, as contamed in x-,
General Statutes of North Carolina, entitled "Non-profit Corporation Actff and the several
amendments thereto, does hereby set forth the Mowing Art'cles of IncorPoration:
A st
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t onomic0*13ortunities-Inc.
MAA Ec
MAN
The period of existence of the corporation shall be perpetual.
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The location of the principal and registered office of the corporation shall be at 508 S. Front
Street in the City of Wngton, County ofNew Hanover, State of North Carolina- The name of the
Lnitial registered agent of the corporation is 1. Alan Jones,
I i and has no members and no capital
chg4table corooration,
SM
The corporation is organized exclusively to develop and operate affordable housing and to
promote comprehensive economic development. The corporation is also organized to cany on
activities which are charitable, scientific, literary or educational, provided, however. that such
as eg" from Federal Income Tax under Section
W-7 —•- T1 T 11 XT
501(cX3) of the InternaiRavenue Code of 1,560"ST MOM4714 711
future United States Internal Revenue Laws.
ki
IMENEF - �-- - =21 M
The management of the corporation and its properties and affairs shall be vested in a Board
of Directors. Said Board, in addition to its other powers and authority, shall hzv� ffill power and
sell. ex= or otherwise dispose of any and all the property of the
NO itt
is
P11 IMMIN VT*
as
............
that the power herein
above granted theSO—a—rd—Of tr
ation
lefeat or
would ( '. substanfmny impiir the charitable objects and purposes of the corpor
hereinabove set f0fth.
The mimber of members constituting the initial Board of Directors shall be nine (9) and shil-I
-be composed of the following persons:
N-A= Add=
Barbara F. Baker 508 S. Front Street
Wilmington, NC 2S402
SOS S. Front Street
Danny P_ Brock Wilmington, NC 28402
Dallas J. Brown, Jr. 508 S. Front Street
wilmington, NC 28402
R. T. Horton, Jr. 508 S. Front Street
Virdmington, NC 28402
James Jamison 509 S. Front Street
Wilmington, NC 2S402
Arlene R. Lawson 508 S. Front Street
)ArAmington, NC 28402
Pamela H. Quate 508 S. Front Street
Wilmington, NC 28402
Rosa S. Webb 509 S. Front Street
V,rimington, NC 28402
Lee D. Weddle, Sr. 508 S. Front StIleet
W'dmington, NC 28402
RE
For subsequent Boards of DirectorsthL- number of directors, their terins of office, and th--
I 1� %nij be provided for and determined bY the BY -Laws Of the cOrPorafion-
ITICI-A-AIL&M
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No director ofthe corporation shall be personally liable for iponetary damages for breach of
any duty as a director arising out of an action whether by or in the right of the corporation or
acts or omissians that the director at the time of such breach
17
firm
j*T4 of my director of IS corporation
of such director occurring prior to such amendnient or rek The provisions of this Article shall not
be deemed to lirnit or preclude indemnification oft director by the corporation.
otherwise attempting to
in (including the publishing or distribution of statements) any political campaisa on behalf of any
candidate for public office. Notwithstanding any other provision Of these Articles, the corporation
Shan not carry on any activities not permitted to be carried on:
by a corporation exempt from federul income tax under Section 501(c)(3) of the
internal Revenue Code of 1986 (or the corresponding provisions of any future United -
States Internal Revenue or
b. by a corporation, contributions to which are deductible under Section 170(cX2) and
2055(a) of the Internal Revenue Code �f 1986 (or -the corresponding provisions of
any future United States internal Revenue Law), or
C. by a non-profit corporation created -tinder Chapter 55A of the General Statutes of
North Carolina.
9
0-11 111�
Upon dissolution of the corporation, the Board of Directors shall, after paying or making
bilities of the corporation, dispose of all remaining assets of the
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WN
Aj 0116-
Puposes or to such organization or V
and operated e-
,,clusively for such purposes.
ARTICLE X
The name and address of the incorporator are:
Add=
Sherrod Banks 905 W. Main Street
Brightleaf Square, Suite 24-E
Durham, NC 27701
These Articles of Incorporation shall be effective upon firing with the North Carolina
Secretary of State.
IN WrrNESS WHEREOF, I have hereunto subscribed MY name on this the 2nd day of
November, 1998.
(S E AIL)
corporator
S Incorporator
,AWHA\ARTX%ES.M
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