Legal Question in Business Law in California
I filed my tax-exempt form in June of 2014. I spent the next 18 months building the organization. In January of 2016 I filed my statement of information and submitted by-laws. Did my term as president begin when filed the 501 paperwork, or when I submitted the bylaws?
I am asking because I have been told that I am in violation of the bylaws by remaining as the president. I am told that the third consecutive term expires this month, but my understand is that I still have another term. My board wants me to stay, and I am looking for a replacement for next year, but meanwhile, am I in trouble?
btw, our bylaws state that committees serve at the pleasure of the board, but not board positions. It further states that board members can be removed without cause. However, if my board wants me, and I have no replacement, what should I do?
2 Answers from Attorneys
Perhaps the board should amend the bylaws.
Another possibility is for the board to select a new president who would (informally) carry out your program, such as your spouse or your (legal age) child.
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