DETROIT CHAPTER OF THE TURNAROUND MANAGEMENT ASSOCIATION

THE ASSOCIATION IS ORGANIZED FOR ANY PURPOSE APPROPRIATE FOR A "BUSINESS LEAGUE" AS DEFINED WITHIN THE MEANING OF SECTION 501(C)(6)OF THE INTERNAL REVENUE CODE OF 1986 AS AMENDED. NO PART OF THE NET EARNINGS OF THE ASSOCIATION SHALL INURE TO THE BENEFIT OF, OR BE DISTRIBUTABLE TO ITS MEMBERS, DIRECTORS, OFFICERS, OR OTHER PRIVATE PERSONS. THE ASSOCIATION IS NOT ORGANIZED FOR PROFIT. NOT WITHSTANDING ANY OTHER PROVISION OF THE BYLAWS, THE ASSOCIATION SHALL NOT CARRY ON ANY OTHER ACTIVITIES NOT PERMITTED TO BE CARRIED ON BY AN ASSOCIATION EXEMPT FROM FEDERAL INCOME TAX UNDER 501(C)(6).