1997 - 07-21-97 Regular Meeting - Laserfiche WebLink

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b'ffOK h. 17 Pr,,r 22 RESTATED CHARTER OF LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION The undersigned non-profit corporation, pursuant to N.C. General Statute §55A- 10-06 and the action of its Board of Directors, hereby executes this Restated Charter for the purpose of integrating into one document its original Articles of Incorporation and all amendments thereto: I. The name of the corporation is Lee County Economic Development Corporation. 2. The period of duration of the corporation is perpetual. 3. The purposes for which the corporation is organized are: a) to engage in activities which stimulate the economic development of the County of Lee by fostering and promoting business and industry, developing commerce and trade, and inducing the location of manufacturing, industrial, and commercial enterprises in said county; and b) to engage in any lawful act or activity for which non-profit corporations may be organized under Chapter 55A of the General Statutes of North Carolina. 4. The corporation shall have no members. 5. The corporation is to have no capital stock. 6. The registered office of the corporation shall be located at 106 Hillcrest Drive in the City of Sanford, Lee County, North Carolina, and the initial registered agent of the corporation at such address is Hal T. Siler who is a resident of North Carolina. 7. The directors shall be elected as set forth in the by-laws. 8. The corporation shall have all the powers granted non-profit corporations under the laws of North Carolina. Notwithstanding any other provisions of these Articles of Incorporation, the corporation shall not carry on any activity not permitted to be carried on 01 7 a) by a corporation exempt under the Federal Income Tax under Section 501(c)(6) of the Internal Revenue Code of 1986 (or the corresponding provision of any future United States Internal Revenue Law); or