Article XI — Dissolution

ARTICLE XI DISSOLUTION

1. BOARD ACTION: The NWSC shall be dissolved upon the occurrence of any of the following events:
   • (1) There shall be fewer than three members; or
   • (2) The Board of Directors recommends dissolution and a majority of the members in good standing cast an affirmative vote to dissolve the organization at a regularly scheduled annual meeting; or
   • (3) The Board of Directors recommends transfer of the NWSC to a successor organization, and a majority of the members in good standing cast an affirmative vote to affect such transfer. In this event, all assets and liabilities of the NWSC shall transfer to the successor organization and paragraphs “C” and “D” below shall be

1. OBLIGATIONS: The Board of Directors shall determine the necessary actions to affect dissolution and shall implement such actions. In the course of dissolution, the Board of Directors shall make provisions for payment of all its legal obligations and debts and shall make provisions of the resolution of any other liabilities.

1. ASSETS: Notwithstanding any law to the contrary, any assets remaining after effective dissolution shall be distributed by the Board of Directors among those members who were full members at the time of dissolution and those whose withdrawal was effective within the 12-month period immediately preceding the date of dissolution.

1. LIABILITIES: Any liabilities remaining after effective dissolution shall be delegated by the Board of Directors among those school districts who were members at the time of dissolution and those whose withdrawal was effective within the 12-month period immediately preceding the date of dissolutions.

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