ARTICLE XVII: DISBURSEMENT OF SHMCNY ASSETS
All Payments from club funds must be approved by an executive board vote. Checks written on a Club account shall require the signature of the Treasurer, President or Vice President. Any disbursement of funds outside of club business over the amount of $250 shall be approved by majority vote of the membership. Club funds can be provided as a gift or donation to a bona fide charitable organization as approved by the E-Board.
Should the SHMCNY become inoperative or be dissolved, the assets of the SHMCNY shall be divided equally among the existing members in good standing of the SHMCNY, or, spent on an activity/event where all of the existing members in good standing agree and can take part, or, if such is impossible, the assets shall be distributed in some manner to one or more other non-profit organizations which have goals and purpose in common with the SHMCNY, as deemed appropriate by the Executive Board of the SHMCNY, or in the absence of an existing Board, by the district court of local and competent jurisdiction.