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Nonprofit Corporation
An organization formed for purposes other than generating a profit, where none of its income is distributed to its directors or officers.
Ultra Vires
Acts or decisions made by an entity that are beyond the powers conferred by its constitution, charter, or laws.
Lend Money
The act of giving money to another party with the expectation that it will be paid back, usually with interest, over time.
Good Faith
Acting with honesty and sincerity without any intention to defraud or seek unfair advantage.
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