Constitution of Urabba Parks/Section 94
Distribution of surplus
(1) In winding-up, the liquidator is to have as much regard as practicable to the legal rights of the membership in relation to the making of charity distributions.
(2) Any member whose legal rights in respect of charity distribution entitlements are not fully satisfied shall be allocated to a giving pool, for the purposes of division among eligible charities as chosen by those members by further charity distributions.
(3) In a giving pool constituted under this section:
(a) the liquidator may, with the sanction of a special resolution of the members comprising the giving pool, make charity distributions in respect of any or all of those members;
(b) for any amount not distributed under paragraph (a) the liquidator may, with the sanction of a preferential vote of the members comprising the giving pool and whose legal rights are not fully satisfied by charity distributions made under that paragraph, make charity distributions in respect of all of those members; and
(c) unless otherwise agreed by a member, in no circumstances shall a member be required to nominate for charity distribution securities of which there is a liability.