Sole Member Bylaws Can Protect Founder of Nonprofit
We have frequently referred to a “sole member” corporation to protect a founder of a nonprofit corporation when the founder wants assurance that he or she can develop the organization as a career to help make the world better in some way.
Not everyone believes that they are appropriate or in the public interest. But we have seen too many founders, who work for years essentially as volunteers, to create an organization and then get fired when their “best friends” on the Board decide to go in a different direction. This Ready Reference Page contains a complete form of bylaws to provide protection to the founder.
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