What are “members” of a nonprofit corporation?
A nonprofit corporation may, but is not required to, have members. “Member,” as defined by law, means any person who has the right to vote upon the election of directors of a nonprofit corporation. If a nonprofit corporation is to have members such feature must be mentioned in the corporation’s bylaws or articles. Members do not personally own the nonprofit corporation or have a financial stake therein, and the corporation’s income cannot be distributed to the members.
A nonprofit corporation may, but is not required to, have members. “Member,” as defined by law, means any person who has the right to vote upon the election of directors of a nonprofit corporation. If a nonprofit corporation is to have members such feature must be mentioned in the corporation’s bylaws or articles. Members do not personally own the nonprofit corporation or have a financial stake therein, and the corporation’s income cannot be distributed to the members.
