NACD Instructor standards violation

[Jax]

According to Florida statute

617.1602 Inspection of records by members.—
(1) A member of a corporation is entitled to inspect and copy, during regular business hours at the corporation’s principal office or at a reasonable location specified by the corporation, any of the records of the corporation described in s. 617.1601(5), if the member gives the corporation written notice of his or her demand at least 10 business days before the date on which he or she wishes to inspect and copy.

It is a WRITTEN notice. I - at the time, a member of the NACD, and several others - assuming they spoke the truth - provided written notice to inspect the financials. I, personally, never received an answer. I did not renew after this.

 

[Hetland]

July 30, 2013 version of Bylaws:

Section 10.09 Dissolution
On dissolution, assets of this Corporation remaining after the payment or discharge of all liabilities of the Corporation; the return, transfer, or conveyances of assets on conditions requiring same; and the transfer or conveyance of assets received and held subject to limitations permitting their use only for charitable, religious, eleemosynary, benevolent, educational, or similar purposes shall be distributed as follows : in the event of dissolution, the residual assets of the NACD will be turned over to one or more organizations which themselves are exempt as organizations described in Sections 501(C)(3) and Section 170(C)(2) of the Internal Revenue Code of 1954 or corresponding sections of any prior or future Internal Revenue Code, or to the Federal, State, or local government for exclusive public use.

 

[ScubaInChicago]

July 30, 2013 version of Bylaws:

Oh great, Rick and the lawyer have probably earmarked just the "right" entity to transfer the funds to.

Has anyone checked to see if the corporation the two established is a 501(C)(3)?

 

[Wookie]

As far as I can tell as an interested outsider, with absolutely no skin in the game, the minimum requirements for a BOD IAW the bylaws are met. This BOD appears to have been duly elected by the members, although they may be in danger of their terms expiring. The corporation is in good standing with the State of Florida, and all corporate rules are being met. Folks may not like the BOD, but that's not what I was researching.

There may not be any members. Membership only is good for a year, except for lifetime members. Lifetime members are members for life, and are the only folks still eligible to vote, if regular members haven't paid their dues. The only way to wrest control away is to gather the proxies of the lifetime members, submit 10% of them to call a special meeting, submit 50% of them to elect a new BOD. If anyone cares. Currently, only lifetime members may be on the BOD, as you have to be a member in good standing for the previous 12 months, and it appears that no one is aside from lifetime members.

Who is Konstantin?

 

[Hetland]

This BOD appears to have been duly elected by the members, although they may be in danger of their terms expiring.

Terms are only good for a year. If you are appointed to a different position, that term is only good for the balance of that year's appointment. Any BOD position requires a vote once its term expires. I'm told that there hasn't been an election/vote since ~2009.

 

[Hetland]

Oh great, Rick and the lawyer have probably earmarked just the "right" entity to transfer the funds to.

Exactly my thought as I was reading that section.

 

[tstormdiver]

Membership only is good for a year, except for lifetime members. Lifetime members are members for life, and are the only folks still eligible to vote, if regular members haven't paid their dues.

I am a 10 yr member (my membership expires in 2019 (I think)). Needless to say, I will not renew.