The Corporation is organized exclusively for the promotion of the common good and general welfare of the citizens of the Casco Bay region of the State of Maine within the meaning of Section 501(c)(4) of the U.S. Internal Revenue Code of 1986 as amended, or any successor provision of federal tax law (the "Code"). Such purposes may include (but shall not be limited to) the following activities among others:
(a) To inform the public, advocate in connection with and otherwise attempt to influence the results of municipal referenda, other municipal legislative proposals and other local, state and federal regulatory or permitting proceedings concerning the siting or construction of a liquefied natural gas terminal on Hope Island in the Town of Cumberland, Maine, or at another location on the shores of Casco Bay or any Casco Bay island, and related pipeline facilities to connect said terminal with the interstate natural gas pipeline system; and
(b) To do everything necessary, proper, advisable or convenient for the accomplishment of the foregoing purposes, and to do all other things incidental to them, or connected with them, that are not forbidden by law, the Articles of Incorporation, or the Corporate Bylaws as may be determined by the Directors; provided, however, that the Corporation shall not engage in any transaction, or do or permit any act or omission, which shall operate to deprive it of its tax exempt status as a corporation described in §501(c)(4) of the Code.
The net earnings of the Corporation shall be dedicated exclusively for the benefit of, to perform the functions of and to carry out the foregoing purposes within the meaning of Section 501(c)(4) of the Code and no part of said net earnings shall inure to the benefit of any private shareholder, member, director, officer or individual (except that reasonable compensation may be paid for services rendered to or for the benefit of the Corporation in carrying out its purposes). In promoting social welfare, the Corporation shall (1) not directly or indirectly participate or intervene in political campaigns on behalf of or in opposition to any candidate for public office, (2) not conduct its activities primarily for the purpose of operating a social club within the meaning of Section 501(c)(7) of the Code and (3) not carry on a business with the general public in a manner similar to organizations which are operated for profit.
The names of the individuals serving as the initial Directors of the Corporation are listed below:
There shall be one or more classes of Members of the Corporation and the number of and differentiation among said classes of Members shall be determined by the Directors. Members shall be admitted to Membership upon payment of the dues required for each class of Membership as determined from time to time by the Board of Directors. The Members shall have no voting rights except as determined from time to time by the Board of Directors. To the extent the Board of Directors shall authorize the Members to vote on any particular matter, each member shall have one vote regardless of membership classification.
Upon the dissolution of the Corporation or the termination of its activities, the assets of the Corporation remaining after the payment of all of its liabilities shall be distributed by its Directors exclusively to one or more organizations that are both:
(a) Organized and operated exclusively for such purposes as shall then qualify as an exempt organization or organizations described in either Section 170(c)(1), or Section 170(c)(2) of the Code; and
(b) Organized as domestic or foreign corporations, societies or organizations engaged in activities substantially similar to those of the Corporation within the meaning of Title 13-B, Section 407, M.R.S.A.