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Announcement
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| Section 1. | The Board of Directors shall decide all matters pertaining to the finances of the Local League and it shall place all income, including Auxiliary Funds, in a common league treasury, directing the expenditures of same, in such manner as will give no individual or team an advantage over those in competition with such individual or team. |
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| Section 2. | The Board of Directors shall not permit the contribution of funds or property to individual teams, but shall solicit contribution of funds and receive donations from contributors for the common treasury of the Local League. |
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| Section 3. | The Board shall not permit the solicitation of funds in the name of Little League Baseball unless all of the funds so raised, be placed in the treasury of the Local League. |
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| Section 4. | The Board shall not permit the disbursment of Local League funds for other than the conduct of Little League activities in accordance with the rules and policies of Little League Baseball, Inc. |
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| No Director, Officer, Committee, or Member of the Local League shall receive, directly or indirectly, any salary, compensation, or emolument from the Local League for services rendered. | |
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| Section 6. | All monies received, including Auxiliary Funds, shall be deposited to the credit of the Local League Bank Account. Snack Bar monies will be deposited to Local League Special Snack Bar account, with the knowledge that monies from this account will be later deposited to the Local League Bank account as final revenue. and all disbursements shall be made by check. All checks shall be signed by the Local League Treasurer, the President, and such other Officer(s) as the Board of Directors shall determine. A minimum of two designated signatures will be required on both the Local League and Snack Bar checks and account. |
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| *Section 7. | Distribution of Property: Upon dissolution of the Local League and after all outstanding debts and claims have been satisfied, the members shall distribute the property of the Local League to a Federally incorporated Entity maintaining an objective similar to that set forth herein, Section 501(c) (3) of the Internal Revenue Code or any future corresponding provision. Old equipment may be disposed of as determined by the Local League Board of Directors on a continuing basis. |
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