District of Columbia Amendment to Bylaws regarding election of president, chief executive officer and chairman of board
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FAQ
The D.C. Nonprofit Corporation Act of 2010 (the ?Nonprofit Code?) overhauled laws regarding the formation and operation of nonprofits organized under D.C. law. It was the first substantial change to the D.C. Nonprofit Code since 1962. The new law became effective January 1, 2012.
General Information. A Not-for-Profit Corporation is a special type of corporation where there are no owners. A Not-for-Profit gives no income, except salaries/ expenses, to members, directors, or officers. This corporation provides for personal liability protection.
A nonprofit corporation is an organization formed to serve the public good, such as for charitable, religious, educational, or other public service reasons, rather than purely for the creation of profit itself, as businesses aim to do.
The initial bylaws are adopted at the organizational meeting held after the Articles of Incorporation are filed. The bylaws may be amended thereafter by the shareholders or, in some cases, by the board of directors.
The Charter granted by Congress made Washington an incorporated city and gave voters the right to elect a local legislature (called a Council) that could pass laws and levy a tax on real estate to pay for city services. The local government also included a mayor appointed by the President.
Typically, the articles must contain, at the very least: the corporation's name and business address. the number of authorized shares and the par value (if any) of the shares. the name and address of the in-state registered agent.
The new statutes provide for email notifications, updated electronic meeting rules, and other changes to reflect current best practices in our sector. Most nonprofits don't have to do anything at all. The new law helps to set defaults and standards that many nonprofits have already put in place.
Every business in D.C., including nonprofit organizations, must have a Basic Business License. You must first complete the prerequisites for the license, including registration with the Office of Tax and Revenue. You may submit your application online or submit a paper application.
