Constitution, Article V Founding Mission Withdrawal, Replacement, Dissolution of the Corporation
Constitution: Article V
Founding Mission Withdrawal, Replacement, Dissolution of the Corporation
1. Withdrawal by a Founding Mission
If a founding mission desires to withdraw from its shared responsibility for the Christian Academy in Japan, said mission shall submit to the CAJ Board of Directors in writing, notification of intent to withdraw. Procedures for handling such are detailed in the Bylaws, Article I. Section B.
In order to insure a broad representation, effort should be made to invite another mission to replace a withdrawn mission.
Should conditions so dictate, CAJ as a corporation may be dissolved by a vote of two-thirds or more of the total number of the Board of Directors, and a vote of the Board of Councilors as outlined in the Act of Endowment Article 41.
Where permitted by the Japanese government, priority consideration shall be given to donating the funds to founding mission-related institutions qualifying as a gakkou houjin or jungakkou houjin, or a public benefit juridical person that is operating an educational enterprise, in order to honor the original 1961 agreement among the founding missions regarding the disbursement of surplus assets in the event of dissolution. This institution would be selected by a vote of two-thirds or more of the Directors present at the Board of Directors meeting at the time of dissolution. (Act of Endowment Article 42)
The second priority would be Christian organizations qualifying as educational institutions closest in purpose to CAJ.
In the case of dissolution due to merger, a vote of two-thirds or more of the total number of Directors, and the approval of the Governor of Tokyo is required. (Act of Endowment Article 43)
(Page archived 12/14)