I’m drafting up our league’s initial Articles of Incorporation and North Carolina requires that a corporation have a clause about dissolution. Most basically state the last remaining board member can dissolve the corporation, etc.

But you also have to specify how the corporate assets will be handled. I understand completely why such a clause is needed. It just struck me as funny trying to figure out who should get any remaining assets should the league fail. Of course if it failed one would assume there would be no assets left, but…

So it just got me thinking what the right thing to put in would be. I’m going to have to look at some other league’s articles (our state has them in PDF online) for some ideas. I guess in our case it could be donated to our Recreation Department, the state soccer association, charity. But still – have to pick one!