What will happen to the ISSIG financial assets upon transition?
ISSIG has been incorporated as a non profit organization in the State of Pennsylvania. At the conclusion of the ISSIG transition, the ISSIG dissolution process will commence according to the State of Pennsylvania laws and ISSIG bylaws. It usually takes about a year for the dissolution process to be completed. Article XIII – Dissolution, Section 1 of the PMI-ISSIG bylaws state that “In the event PMI-ISSIG is dissolved, all remaining assets, upon dissolution, shall be disbursed to a charitable organization as approved by the Board”. Since the PMI-IS CoP is not a charitable organization, the ISSIG members will be asked to vote in favour to amend Article XIII Dissolution to allow for the funds to be dispersed to the PMI-IS CoP upon the completion of the ISSIG dissolution. During the dissolution process, the current ISSIG organization will retain any surplus financial assets and AFTER addressing its legal and contractual obligations, the remaining financial assets will be transferred to PMI
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