ARTICLE 8 INDEMNIFICATION 8. GBL shall indemnify all Executive Committee Members that are sued or subject to similar legal action, only if the Executive Committee members acted in the best interests of GBL and its purpose. GBL will try to obtain insurance to address this obligation. ARTICLE 9 DISSOLUTION 9.1 GBL may be dissolved by two-thirds vote of the entire Executive Committee, at any membership meeting called for the purpose of dissolution, provided notice of the proposed dissolution is announced to the membership at the previous regularly scheduled general membership meeting. 9.2 GBL may also be dissolved by any court of proper jurisdiction. 9.3 In the event of dissolution, the assets of GBL shall be distributed at the direction of the Executive Committee, to one or more organized, non-profit organizations in the Town of Guilford, State of Connecticut, dedicated to the promotion of youth sports. Approved by Guilford Regular Members and Executive Committee ___________________________________ Mr. Damian Lynch Date President P:\L&A\GuilfordBasketballLeague\By-Laws of GBL -7-17-18 2nd Draft(Clean).docx
ARTICLE 8 INDEMNIFICATION 8. GBL shall indemnify all Executive Committee Members that are sued or subject to similar legal action, only if the Executive Committee members acted in the best interests of GBL and its purpose. GBL will try to obtain insurance to address this obligation. ARTICLE 9 DISSOLUTION 9.1 GBL may be dissolved by two-thirds vote of the entire Executive Committee, at any membership meeting called for the purpose of dissolution, provided notice of the proposed dissolution is announced to the membership at the previous regularly scheduled general membership meeting. 9.2 GBL may also be dissolved by any court of proper jurisdiction. 9.3 In the event of dissolution, the assets of GBL shall be distributed at the direction of the Executive Committee, to one or more organized, non-profit organizations in the Town of Guilford, State of Connecticut, dedicated to the promotion of youth sports. Approved by Guilford Regular Members and Executive Committee ___________________________________ Mr. Damian Lynch Date President P:\L&A\GuilfordBasketballLeague\By-Laws of GBL -7-17-18 2nd Draft(Clean).docx
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