January 1, 2011 to January 15, 2011
Lead Stories
Court Protects Restricted Assets From Creditors on Dissolution
Museum’s restricted collection may be sold subject to continuing restrictions under “quasi cy pres” doctrine
Is Exec Entitled to Advanced Legal Costs In Suit by Employer for Theft?
Court must make independent review of known facts before denying advance
Language of Trust Allows School to Contract
Court looks to IRS Regulations to determine definition of “regular” enrollment of students
To the Point
How do you close a nonprofit? If you sell the assets, what happens to the money?
Our nonprofit corporation is in real cash trouble and the board is thinking of closing up. Where can we go for information on how to close and sell off the building and land? And what happens to the money?
Lessons from Litigation
Employment Law