Nonprofit Entity Assignment. If Subrecipient is a nonprofit organization, any change from a nonprofit corporation to any other corporate structure of Subrecipient shall be deemed an assignment. Assignment also includes changes in more than fifty percent (50%) of the composition of the board of directors within a two (2) month period of time. In said case, Subrecipient shall notify the County within fifteen (15) calendar days after the change in more than fifty percent (50%) of the board of director’s composition.
Appears in 3 contracts
Sources: Cares Act Grant Agreement, Cares Act Grant Agreement, Cares Act Grant Agreement