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Article XII

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Dissolution

Section 1 Action at Dissolution
 
In the event IGIC is dissolved, the IGIC Coordinator, after paying or making provisions for the payment of all the liabilities of IGIC, will be responsible for archiving the books and records of IGIC and for distributing any other assets of IGIC to a nonprofit organization(s) or institution(s) with objectives similar to IGIC as shall at the time qualify as an exempt organization or organizations under Section 501(c) (3) of the Internal Revenue Code, as the Board shall determine.  In no event will any Board Member, employee, or member benefit from such assets except for authorized expenses incurred by such Board Member, employee, or member in conducting the business of IGIC.
 

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