Bylaws: Article 10

ARTICLE X

DISSOLUTION

Upon the dissolution of the Club, assets shall be distributed for one or more exempt purposes within the meaning of Section 501 (c) 3 of the Internal Revenue Code, or the corresponding section of any future federal tax code, or shall be distributed to the federal government or to a state or local government, for public purpose. Any such assets not so distributed shall be disposed of by a Court of Competent Jurisdiction of the county in which the principal office of the Club is then located, exclusively for such purposes or to such organization, as said court shall determine, which are organized and operated exclusively for such purposes.