Section 1. In the event that the PMI-CVC or its governing officers failed to act according to these bylaws, its policies or all PMI® policies, procedures, and rules outlined in the charter agreement, PMI® has a right to dissolve the PMI-CVC.
Section 2. In the event the PMI-CVC failed to deliver value to its members as outlined in PMI-CVC’S business plan and without mitigated circumstance, the Chapter acknowledges that PMI® has a right to dissolve the PMI-CVC, as per the terms of the Charter.
Section 3. In the event the PMI-CVC is considering dissolving, the PMI-CVC’S members of the Board of Director must notify PMI® in writing and follow the Chapter dissolution procedure as defined in PMI’s policy.
Section 4. Should the PMI-CVC dissolve for any reason, its assets shall be dispersed to a charitable organization designated by the voting membership after the payment of just, reasonable and supported debts, consistent with applicable legal requirements.