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Operating Agreement For Non Profit Corporation
"I need an Operating Agreement For Non Profit Corporation to establish a charitable educational organization in Wales, with specific provisions for a rotating board of trustees and multiple membership tiers, to be implemented by March 2025."
1. 1. Parties: Identification of the founding members and initial directors/trustees
2. 2. Background: Purpose of the organization and reasons for formation
3. 3. Definitions: Key terms used throughout the agreement
4. 4. Organization: Legal structure, registered office, and purpose
5. 5. Membership: Classes of membership, rights, and obligations
6. 6. Board of Directors/Trustees: Composition, appointment, removal, and duties
7. 7. Meetings: Procedures for board and member meetings
8. 8. Financial Provisions: Financial management, accounts, and audit requirements
1. Employment Provisions: Required if the organization will have employees - includes employment policies and procedures
2. Intellectual Property: Rights and protection of organizational IP - used when the organization creates or uses significant IP
3. International Operations: Provisions for operating in multiple jurisdictions - required when operating internationally
1. Schedule 1: Initial Members: List of founding members and their details
2. Schedule 2: Initial Directors/Trustees: List of initial directors/trustees and their details
3. Appendix A: Conflict of Interest Policy: Detailed policy for handling conflicts of interest
4. Appendix B: Financial Procedures: Detailed financial management procedures
5. Appendix C: Terms of Reference: Detailed operational procedures for committees
Authors
Board
Board Meeting
Chair
Charitable Objects
Charity Commission
Companies Act
Company Secretary
Conflict of Interest
Director
Trustee
Financial Year
General Meeting
Governing Document
Member
Membership
Non-Profit Corporation
Objects
Officer
Ordinary Resolution
Registered Office
Seal
Special Resolution
Trustee Board
Written Resolution
Quorum
Register of Members
Register of Directors
Regulations
Reserved Matters
Term of Office
Membership
Board Composition
Powers and Duties
Meetings and Voting
Financial Management
Conflicts of Interest
Confidentiality
Indemnification
Amendment Procedures
Dissolution
Asset Distribution
Records and Reports
Dispute Resolution
Compliance
Decision Making
Appointment and Removal
Committees
Member Rights
Liability Limitations
Annual Requirements
Notice Provisions
Property Management
Insurance
Data Protection
Intellectual Property
Charitable Status
Regulatory Compliance
Delegation of Authority
Governance
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