What assets does oclug have? Apr. 2, 2023 17:49:06 alayne [ at ] twobikes [ dot ] ottawa [ dot ] on [ dot ] ca: > On Fri, 31 Mar 2023, Tug Williams wrote: >> Assuming the vote is positive, an agent will be engaged to handle the technical details. One such agency has indicated willingness, with a fee under $400. > > OCLUG does not need to spend $400. > > See Ontario Not-for-Profit Corporations Act, 2010 (https://www.ontario.ca/laws/statute/10n15). > > To dissolve a non-profit corporation all one needs to do is: > > - pass a special resolution to dissolve, at a duly constituted general meeting, including choosing who gets the corporation's assets (the special resolution MUST be passed by a 2/3 majority) > > - communicate that motion to the Ontario Business Registry within 10 days by mail with a signed form. The forms & instructions are at https://forms.mgcs.gov.on.ca/en/dataset/5278 > > OCLUG would also need to apply for a (free) company key online first, but it should have already had that for annual returns (director names). > > - appoint someone to liquidate the assets: i.e. pay any debts, then write a cheque to NCF (or whomever), and when everything clears, close the bank account. The treasurer / signing officers would have to do this in any case, right? > > Other info: https://nonprofitlaw.cleo.on.ca/run-a-nonprofit/dissolution/ > > There's no point in paying $400 for something that can be done straightforwardly -- especially since most of the work is getting information together which the board would have to do in any case. > >> Note that there is no Plan B unless some members step up with a viable plan that can get majority member approval in a recorded vote. > > All the Ontario government asks you to do is to hold an AGM, which can be combined with a monthly meeting and take 5 minutes, elect directors who have minimal or no tasks, and electronically submit a list of directors each year. You don't have to hold board meetings if there's nothing to discuss. Why is this so much work? > > The advantages of keeping up OCLUG as a non-profit corporation is that -- when there are more people who want to do more -- it makes it possible to undertake larger projects like a day conference or joint projects with a municipal or other organization where insurance might be required. It also allows OCLUG to apply for grants for projects. > > Alayne > > -- > Alayne McGregor > alayne at twobikes.ottawa.on.ca > > To unsubscribe send a blank message to linux+unsubscribe [ at ] linux-ottawa [ dot ] org > To get help send a blank message to linux+help [ at ] linux-ottawa [ dot ] org > To visit the archives: https://lists.linux-ottawa.org To unsubscribe send a blank message to linux+unsubscribe [ at ] linux-ottawa [ dot ] org To get help send a blank message to linux+help [ at ] linux-ottawa [ dot ] org To visit the archives: https://lists.linux-ottawa.org