Section 1. In the event that the Olympia Chapter or its governing officers fail to act according to the bylaws of the Olympia Chapter and all PMI® policies, procedures, and rules outlined in the charter agreement, PMI® has a right to dissolve the Olympia Chapter.
Section 2. In the event the Olympia Chapter fails to deliver value to its members as outlined in the Olympia Chapter’s business plan and without mitigated circumstance, the Component acknowledges that PMI® has a right to dissolve the Olympia Chapter, as per the terms of the Charter.
Section 3. In the event the Olympia Chapter is considering to dissolve, the Olympia Chapter Board of Director must notify PMI® in writing and follow the component dissolution procedure as defined in PMI’s policy.
Section 4. Should the Olympia Chapter 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.