Laserfiche WebLink
ARTICLE V <br /> PROHIBITED ACTS <br /> Other than to members that are subdivisions, units, or agencies of the United States or a <br /> state or local government, the Corporation shall in no way, directly or indirectly, incidentally or <br /> otherwise, afford pecuniary gain, dividends, or other pecuniary remuneration to any of its <br /> members, directors, or officers, as such, nor shall any part of the net earnings of the Corporation <br /> in any way inure to the private benefit of such member, director or officer of the Corporation, or <br /> to any private individual; provided, however, that the Corporation shall be authorized to make <br /> reasonable allowance and payment for actual expenditures incurred or services rendered to or for <br /> the benefit of the Corporation. The Corporation shall not lend money to, guarantee, or pledge its <br /> assets as security for an obligation of, become a surety for, or otherwise financially assist any <br /> person or organization, except as permitted by Minnesota Statutes Section 317A.501 and as <br /> permitted by Article IV above. <br /> ARTICLE VI <br /> INCORPORATOR <br /> The name and post office address of the person who is the sole Incorporator of the <br /> Corporation is: <br /> Peter L. Cooper, Esq. <br /> McGrann Shea Anderson Carnival <br /> Straughn& Lamb, Chartered <br /> 800 Nicollet Mall, Suite 2600 <br /> Minneapolis, MN 55402-7035 <br /> ARTICLE VII <br /> MEMBERS <br /> The Corporation shall have members. The initial members of the Corporation shall be <br /> the municipal utilities of the following cities in the State of Minnesota: <br /> [TO COME] <br />