11D. RFP Act / CFC Constitution

[Fred McKim]

Because of a change to the RFP Act we need to make a number of changes to our structure and constitution to follow under the act. Michael advises that he thinks Oct is the deadline, but someone may be able to correct me on that.

An AdHoc Committee was appointed to come up with a new Constitution that we could go forward with. The Governors eventually voted to reject this proposed constitution, asking the committee to come back with a constitution that makes the minimal changes to be compliant.

It was hoped that Les Bunning would carry this out, but right now I'm not sure what the status is. We need to proceed with this, if something isn't ready.

[Halldor P. Palsson]

You have 17 months to comply with NFP Act requirements was a notice I got at work about a month ago.

[Christopher Mallon]

Yes it's October 2014, not 2013.

[Lyle Craver]

For anyone unfamiliar with the acronym NFP = "not for profit organization. New Governors should understand that we are NOT talking charities here which operate under a different set of rules. Is someone able to post a link to the Federal government site pointing to the text of the act?