Current language ( from 1998):
ARTICLE IX: DISPOSITION OF PROPERTIES
In the event of the dissolution of the Indianapolis Matinee Musicale, all monies and properties shall revert to the Jordan College of Fine Arts of Butler University for scholarship purposes. The scholarship program is to be continued as now established or as designated by the donors. All established memorial and special scholarships shall retain their identities.
PROPOSED LANGUAGE CHANGE:
In the event of the dissolution of the Indianapolis Matinee Musicale (hereafter referred to as “IMM”), the Board of Directors shall, after paying or making provision for the payment of all liabilities of the IMM, distribute the assets of the IMM in such manner or to such organization or organizations organized and operated exclusively for charitable or educational purposes, as the Board of Directors shall determine. Any such assets not so disposed of shall be disposed of by the Judge of the Circuit Court of Marion County, Indiana, exclusively for such purposes or to such organizations, as said Court shall determine, which are organized and operated exclusively for such purposes.