What assets does oclug have?
Apr. 2, 2023 17:49:06 ala...@twobikes.ottawa.on.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
>
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