This Instrument Witnesseth That the Board of Regents for and on behalf of the Education Department of the State of New York at their meeting of November 8, 1996,
An application having been made by and on behalf of the trustees of the Holland Library, for an amendment of its charter, it was
Voted, that the provisional charter of the Holland Library, located in Alexandria Bay, county of Jefferson, state of New York, which was granted by action of the Board of Regents on March 19. 1986; which provisional charter was made absolute by Regents action on March 29, 1900 be, and the same hereby is, amended to change the corporate name to MacSherry Library; to increase the maximum authorized number of trustees from nine to not less than five nor more than eleven, with the current number being eight; to include as ex-officio trustees the Superintendent of Schools for the Alexandria Central School district and the pastors of the Reformed, Methodist and Roman Catholic Churches; and to add the following language:
Notwithstanding any other provision of these articles, the corporation is organized exclusively for one or more of the purposes as specified in section 501(c)(3)of the Internal Revenue Code of 1986 and shall not carry on any activities not permitted to be carried on by a corporation exempt from Federal income tax under Internal Revenue Code section 501(c)(3) or the corresponding provisions of any subsequent Federal tax laws.
No part of the net earnings of the corporation shall inure to benefit of any member, trustee, director or officer of the corporation, or any private individual (except that reasonable compensation may be paid for services rendered to or for the corporation), and no member, trustee, director or officer of the corporation, or any private individual, shall be entitled to share in the distribution of any of the corporate assets upon dissolution of the corporation.
No substantial part of the activities of the corporation shall be carrying on propaganda, or otherwise attempting to influence legislation (except as otherwise provided by Internal Revenue Code section 501[h]), or participating in or intervening in(including the publication or distribution of statements)any political campaign on behalf of any candidate for public office.
In any taxable year in which the corporation is a private foundation as described in Internal Revenue Code section 509(a), the corporation shall distribute its income for said period at such time and if such manner as not to subject it to tax under Internal Revenue Code section 4942, and the corporation shall bot (a) engage in any act of self-dealing as defined in Internal Revenue Code section 4944, or (d) make any taxable expenditures as defined in Internal Revenue Code section 4945(d) or the corresponding provisions of any subsequent Federal tax laws.
Upon the dissolution of the MacSherry Library, assets shall be distributed for one or more exempt purposes within the meaning of section 501(c)(3)of the Internal Revenue Code of 1986, or the corresponding section of any future Federal tax code, or shall be distributed to the Federal government, or to a state or local government, for a public purpose.
The Commissioner of Education is designated as the representative of the corporation upon whom process in any action or proceeding against it may be served.
Granted, November 8, 1996, by the Board of Regents of The University of the State of New York, for and on behalf of the State Education Department, and executed under the seal of said University and recorded as Number 22,223.