Article 19 - Dedication of Assets
(1) A Foundation need not have an initial dedication of assets.
(2) If it does have an initial dedication of assets, the details of the dedicated assets must be specified in the Constitution.
(3) Additional assets may be dedicated to the Foundation after its establishment, unless the Constitution provides otherwise.
(4) If additional assets are so dedicated, the details of the dedication must be specified in the Constitution.
(5) The dedication of assets to a Foundation by a Dedicator does not:
(A) make the Dedicator a Founder; or
(B) vest in the Dedicator any specific right vested in a Founder.
(6) The Foundation shall provide such additional information pertaining to the dedication as the CRO may reasonably require.
|Derived (as from 22nd September 2016).|