Difference between revisions of "4340"
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'''<span id="4340">4340. Definition.</span>''' An affiliate corporation may be formed and exist when a subsidiary corporation ( | '''<span id="4340">4340. Definition.</span>''' An affiliate corporation may be formed and exist when a subsidiary corporation ([[4310]]) of The Wesleyan Church seeks to develop responses to social, humanitarian, or community needs which can best be achieved by a separate legal entity. This may be for the purpose of carrying on specific religious, benevolent, charitable, or educational activities apart from the usual activities of the subsidiary corporation, such as, but not limited to, the operation of nursing homes, retirement centers, special educational or recreational activities, and the like. When the organization and operation of such a ministry is desired, it shall be incorporated apart from the subsidiary corporation and termed an affiliate corporation. | ||
Latest revision as of 00:41, 14 November 2022
4340. Definition. An affiliate corporation may be formed and exist when a subsidiary corporation (4310) of The Wesleyan Church seeks to develop responses to social, humanitarian, or community needs which can best be achieved by a separate legal entity. This may be for the purpose of carrying on specific religious, benevolent, charitable, or educational activities apart from the usual activities of the subsidiary corporation, such as, but not limited to, the operation of nursing homes, retirement centers, special educational or recreational activities, and the like. When the organization and operation of such a ministry is desired, it shall be incorporated apart from the subsidiary corporation and termed an affiliate corporation.