Commonwealth of Virginia
State Corporation Commission
Richmond, May 13, 1987
This is to Certify the certificate of incorporation of
MID-ATLANTIC ROADRACING CLUB
Was this day issues and admitted to record in this office and that the said corporation is authorized to transact its business subject to all the laws of the State applicable to the corporation and its business.
CHARTER OF MID-ATLANTIC ROADRACING CLUB
We hereby associate to form a nonstock corporation under the provisions of Chapter 10 of Title 13.1 of the Code of Virginia, and to that end set forth the following:
The name of this Corporation shall by Mid-Atlantic Roadracing Club (hereinafter referred to as "the Corporation").
Purposes And Powers
- The purpose for which the Corporation is formed exclusively for pleasure, recreation and other similar nonprofit purposes, as contemplated and other by similar Section 501 (c) (7) the Internal Revenue Code of 1954 (any reference herein provision of such Code shall be deemed to mean provisions as now or hereafter existing, amended and supplemented or superceded). More specifically, the purpose the Corporation is to promote the sport of motorcycling, and through educational and other means, to advance the cause of skillful riding, courtesy on the public highways, and safety of all users of public thoroughfares. In addition, it shall be the purpose of the corporation to promote and encourage the preservation, ownership, and use of motorcycles; to promote and encourage the highest level of professionalism and safety for participants and spectators involved in motorcycle racing. It shall be the purpose of the Corporation that all of its activities shall be handled in such a manner as to promote a positive public image for motorcycling in general and for motorcycle racing particular.
- The assets of the Corporation shall be at all times dedicated to the recreational purposes set out above, and none the net earnings shall inure in whole or in part to the benefit of any private individual, association, or corporation. If for any reason it becomes necessary to dissolve or liquidate the Corporation, the remaining assets of the Corporation, after lawful obligations and all other requirements of law are met and complied with, shall be transferred or conveyed to one or more corporations, societies, or organizations engaged in activities similar to those of the Corporation and qualifying under Section 501(c) (7) of the Internal Revenue Code of 1954, as may be specified in a plan of distribution adopted as provided by law or as directed by a court of competent jurisdiction.
- The Corporation may solicit and receive funds property by gift, transfer, devise or bequest, and may administer and apply such funds and ‘property only in the furtherance of the recreational purposes set out in paragraph (1) above.
- The Corporation shall not engage in any activities attempting to influence legislation, nor shall it directly or indirectly participate or intervene (including publishing or distributing statements) in any political campaign on behalf of any candidate for public office or any other activity not within the recreational purposes set out in Paragraph (1) above.
- The Corporation be necessary, shall do any useful, and all suitable or proper furtherance corporation, corporations or accomplishment and shall of similar of the exercise character, purposes all powers including and powers possessed the power of the by Virginia to own, lease, otherwise contract for the purchase encumber, real and sale and personal of, and to mortgage property.
Membership in the Corporation shall he through application to and election by the existing membership, as initially constituted by vote of the Board of Directors. Application shall be open to any individual eighteen (18) years or older interested in the purposes of the Corporation. Each member shall pay such dues as may from time to time be set by the Board of Directors in accordance with the By-Laws. Each member shall be entitled one vote in all matters coming before membership meetings. Each member shall have full voting rights.
Board of Directors
- The affairs of the corporation shall be managed Board of Directors.
- The initial number of directors of the Corporation shall be three. The number of directors may be increased decreased from time to time by amendment to the By-Laws.
- The directors shall be elected by and from voting membership at the annual membership meeting and the immediate past President shall serve as a director.
- The names and addresses of the persons to serve as initial directors are as follows:
Name & Address
Harry E. Morse
Alexandria, VA 22204
Judy E. Morse
Alexandria, VA 22204
Wheaton, MD 20902
Dated this 9th day of September, 1986.