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Thank you for your question and welcome to Just Answer.
Are you trying to officially dissolve the HOA under Missouri law?
That's an interesting response you received, then. Did they give a reason as to why the dissolution was improper?
Also, did you entitle that part of the Articles "Dissolution", or something similar?
DISSOLUTION CLAUSE: Upon the dissolution of the corporation, the Board of Directors shall,
after paying or making provisions for the payment of all of the liabilities of the corporation,
dispose of all the assets of the corporation exclusively for the purposes of the corporation in such
manner, or the such organization or organizations organized and the time qualify as an exempt
organization or organizations under Section 501(c)(3) of the Internal Revenue Code of 1954 (or
the corresponding provision of any future United States Internal Revenue Law), as the Board of
Directors shall determine.
Any such assets not so disposed of shall be disposed of by the Circuit Court of the county in
which the principal office of the corporation is then located, exclusively for such purposes or to
such organization or organizations, as said Court shall determine, which are organized and
operated exclusively for such purposes.
And then they told me had to go to IRS to read the Statute for Nonprofit. THey would not give me a direct answer. Dancing . . .
I see the problem now.
Non-profits must only distribute to non-profits under IRS rules. You cannot distribute to the homeowners because they are not non-profits. The only organizations that can receive the assets would be other non-exempt organizations. Any such organizations found here would be valid, for instance.
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"the Circuit Court of the county in
operated exclusively for such purposes."
Sorry. Either would be fine. As long as the dissolution results in the assets going to a non-profit, you're going to be fine.