PART I

BYLAWS OF SIERRA NEVADA SWIMMING

ARTICLE 11

ORGANIZATION, AMENDMENT OF BYLAWS AND DISSOLUTION

11.1 NON-PROFIT AND CHARITABLE PURPOSES - As stated in Section 1.2, SNS is organized exclusively for charitable and educational purposes and for the purpose of fostering national or international amateur sports competition within the meaning of section 501(c)(3) of the IRS Code. Notwithstanding any other provision of these Bylaws, SNS shall not, except to an insubstantial degree, (1) engage in any activities or exercise any powers that are not in furtherance of the purposes and objectives of SNS or (2) engage in any activities not permitted to be carried on by: (A) a corporation exempt from federal income tax under such section 501(c)(3) of the IRS Code or (B) a corporation to which contributions, gifts and bequests are deductible under sections 170(c)(2), 2055(a)(2) and 2522(a)(2) of the IRS Code.

11.2 DEDICATION OF ASSETS, ETC. - The revenues, properties and assets of SNS are irrevocably dedicated to the purposes set forth in Sections 1.2 and 11.1 of these Bylaws. No part of the net earnings, properties or assets of SNS shall inure to the benefit of any private person or any member, officer or director of SNS.

11.3 AMENDMENTS - Any provision of these Bylaws not mandated by USA-S may be amended at any meeting of the House of Delegates by a two-thirds vote of the members present and voting. Amendments so approved shall not take effect until reviewed and approved by the USA-S Legislation Sub-committee. These Bylaws shall be deemed amended 90 days after the conclusion of any annual meeting of USA-S at which the corresponding provisions of Part Six of the USA-S Code of Rules and Regulations are amended (or such later effective date established in the amending USA-S legislation) to the extent that such amendment affects a provision required to be included herein or is itself required to be included herein, unless SNS shall have requested permission of the USA-S Legislation Sub-committee not to have such amendment take effect with respect to these Bylaws.

11.4 DISSOLUTION - SNS may be dissolved only upon a two-thirds majority vote of all the voting members of the House of Delegates. Upon dissolution, the net assets of SNS shall not inure to the benefit of any private individual, unincorporated organization or corporation, including any member, officer or director of SNS, but shall be distributed to United States Swimming, Inc., to be used exclusively for educational or charitable purposes. If United States Swimming, Inc., is not then in existence, or is not then a corporation which is exempt under section 501(c)(3) of the IRS Code and to which contributions, bequests and gifts are deductible under sections 170(c)(2), 2055(a)(2) and 2522(a)(2) of the IRS Code, the net assets of SNS shall be distributed to a corporation or other organization meeting those criteria and designated by the House of Delegates at the time of dissolution, to be used exclusively for educational or charitable purposes.

 

 

 

 

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