Plan of Complete Liquidation and Dissolution
Adopted by the Members of the LWV of Hawaii Education Fund, Inc.
October 23, 1991
- The LWV HI Education Fund shall continue to pay its share of the office rent and other expenses for the remainder of the fiscal year (until April 30, 1992). This will give the State and Honolulu Leagues time to discuss measures to make up for the loss of the Education Fund's share and to budget accordingly. The Education fund's rent for this period will total approximately $1400.
- All LWV HI Education Fund special accounts shall be closed. Disposition shall be as follows:
- LWV of Kauai: Kauai has $23.59 in its Education Fund Account. This amount is too small to transfer to the League of Women Voters Education Fund (LWVEF). Therefore, it is recommended that Kauai expend this sum for an approved education purpose, for example to purchase LWV publications for distribution to the public or to libraries.
- LWV of Honolulu: The Alice Scott Fund account shall be transferred to the LWVEF.
- Residual funds, not expended by the Education Fund for rent, storage fees, payment of debts and costs of dissolution shall be deposited with the LWVEF for use by the LWV of Hawaii.
- A complete inventory of furniture and equipment shall be prepared.
All items of furniture and equipment shall be prepared. All items of furniture and equipment shall be donated to the LWV of Hawaii for its use of disposition. (It is believed that all furniture and equipment is fully depreciated).
- Education fund records shall be retained for at least five years as required by law. A storage fee shall be negotiated with the LWV Hawaii. A fee of $100/year for five years was suggested. Files shall be sorted an prepared for storage.
- All necessary notices and documents required by law for dissolution of the corporation shall be executed and filed, and all debts shall be paid.
- After the statement of intent to dissolve is filed with the State Department of Commerce and Consumer Affairs, no further contributions shall be accepted by the LWV of Hawaii Education Fund.
- Local Leagues, the State Board, the LWVUS and the LWVEF shall be notified by letter of the decision to dissolve the LWV HI Education Fund, the steps to be taken, and the timetable for implementation.