ARTICLE XVI
ASSETS OF THE CORPORATION
No part of the assets or earnings of the association shall be divided among or inure to the benefit of any director or officer or private individual or be appropriated for any purpose other than the purposes of the association.
No substantial part of the activities of the association shall be the carrying on of propaganda or otherwise attempting to influence legislation, except as provided herein, and the association shall not participate in, or intervene in (including the publishing or distributing of statements) in any political campaign on behalf of any candidate for public office. It is intended that the corporation shall be entitled to exemption from federal income tax under Section 501(c)(3) of the Internal Revenue Code of 1954, as amended from time to time, and shall not be a private foundation under Section 509(a) of the Internal Revenue Code.
Upon liquidation or dissolution of the association, after the payment of all of the liabilities of the association or due provisions thereof, all of the assets of the association shall be disposed of to one or more organizations exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code.