At our annual meeting on June 5, 2011, the congregation approved moving forward on incorporating UCN as recommended by the Endowment Committee and the Board of Trustees. Some reasons for incorporating follow.
- What: Change in organization status to a single entity.
- Why: Risk management tool.
Substantially limits liability of ministers, board members, and general membership, provided that the Board is not grossly negligent.
- Reduces need for the use of the legal system.
Under current law, a court order is required to change name, board members, insurance, property status or condition, and to use the services of any banking institution.
- Increases stability
Provides structure independent of membership, board or leaders, historically demonstrated to generate longer viability
- More attractive to banks and lending institutions
Easier to deal with other incorporated entities as all are governed by the same charter structure and legal structure
- Reorganize
Restructure Bylaws and charter to become compliant with current legal requirement, increase ease of governance, and manage risk.
- How: Three specialty legal firms that do just this in VA. The man who authored SB 1267 charges a flat fee of $2250 for all services and registrations.
- When: Depends on congregational approval
Also, to participate in the UUA Common Fund, we need to be incorporated.