Paluxy River Bluegrass Association
Bluegrass Music in Cleburne Texas
Revision to the By-Laws
October 17, 2020
Upon a vote of 75% of the membership attending the final general meeting, the Association can be placed into an inactive state. All functions except the treasury will be suspended. The treasury can be used to fund only Bluegrass or Bluegrass related events and for taxes and other fees necessary to maintain the Association.
Existing elected Officers and Directors shall remain until their term expires. The remaining Officers and Directors shall choose a person to serve as an Administrator/Treasure during the inactive state.
The association can be removed from an inactive state by the re-establishment of a membership base and by the election of Officers. If the Association has not been removed from the inactive state by October 16, 2021, a meeting of interested parties shall be held on this date, to decide if the Association should be dissolved.
Upon dissolution, all assets remaining after payment of debts and liabilities shall be distributed exclusively to charitable organizations qualifying under the provisions of Section 501c (3) of the Internal Revenue Code as determined by the consensus of the attendees of the October 16, 2021 meeting.