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Article X: Dissolution

  1. In the event of dissolution, abandonment or termination of the WIPL organization, no income, contribution or other revenue or funds shall accrue to the benefit of any individual member(s). Any and all assets then possessed by the organization after current indebtedness has been paid, shall revert to the Coastal Educational Foundation.
  2. Should the Coastal Educational Foundation dissolve or its legal existence be terminated for any reason, or should the Directors of the Coastal Educational Foundation, Inc., decide that they are no longer able to administer the funds, then the principal, along with any income that may be on hand, shall be transferred to some other non-profit institutions(s) capable of administering the scholarship and effectuating its purpose.