Sample 'Dissolution' Clause

New Testament
Association
of Independent
Baptist Churches

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Sample "Dissolution" Clause

What follows is a sample "dissolution" clause. Churches that are considering joining the NTA need to have similar text enacted in their church constitution.

DISSOLUTION: No part of the net earnings of the corporation shall ever inure to the benefit of any donor, director, officer, nor any private individual shall be entitled to share in the distribution of corporate assets. Upon dissolution, any assets of the corporation must be distributed to one or more organizations of like faith and practice recognized by the Internal Revenue Service as one organized exclusively for religious, charitable, scientific, literary, or educational purposes.

Please contact us if you have any questions regarding this or other aspects of membership in the NTA. Thank you.

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