ALTERED CONSTITUTION OF
Powerhouse Theatrical Society
Formerly the Vernon Theatrical Arts Centre Society
- The name of the Society is: “Powerhouse Theatrical Society”
- The purposes of this Society are to:
- promote interest in and advance knowledge of the dramatic arts, literature and music, provide facilities for training education and advancement in artistic endeavour by maintaining and operating an active theatre company and provide opportunity for members to participate in all aspects of community theatre on a self sustaining basis.
- to acquire by purchase, lease, gift or otherwise, and to build, construct, erect, operate and maintain any and all facilities, improvements and equipment;
- manage, develop, improve, exchange, rent, allow the use of, lease, mortgage, dispose of or otherwise deal with all or any of the property, assets, equipment, or rights of the Society as the Society may decide upon from time to time;
- raise, borrow, provide or otherwise secure funds in such a manner as the Society may see fit and, in particular, by mortgage or by issue of notes, bonds, debentures or otherwise charged upon all or any of the Society’s assets or property and to redeem and pay same.
- For further and better particulars in the application of the paragraph 4 of this Constitution, at the time of dissolution provided that the organization(s) are in compliance with the below mentioned requirements of the Income Tax Act of Canada. If effect cannot be given to the aforesaid provisions, then such funds shall be given or transferred to some other organization provided that such other organization referred to in this paragraph shall be a charitable organization or charity recognized by the Department of National Revenue as being qualified as such under the provisions of theIncome Tax Act of Canada from time to time in effect. This clause is unalterable.
- In the event of the dissolution of the Society, any assets remaining after payment of all debts and obligations shall be distributed to a recognized charitable organization in the Province of British Columbia, Canada, with similar objectives or to a suitable level of local government. This clause is being unalterable.
- The above purposes of the Society shall be carried out without purpose of gain for its members, and any profits or other accretions to the Society shall be used for promoting its purposes, and all of the above purposes shall be carried out on an exclusively charitable basis. This clause is unalterable.
- No director or officer shall be remunerated for being or acting as a director or officer, but a director or officer may be reimbursed for all expenses necessarily and reasonably incurred by the director or officer while engaged in the affairs of the Society. This clause is unalterable.