advice needed: I just resigned from a small not-for-profit business. I'm currently owed a director's loan of £4200. the company is refusing to replay my loan as they say this is in contravention of their not-for-profit status; namely, this article:
5.The income and capital of the organisation shall be applied solely towards the promotion of the objects of the organisation; and no part of the income or capital shall be paid or transferred, directly or indirectly, to the members of the organisation, whether by way of dividends or bonus or otherwise in the form of profit.
are they correct? or should I continue to request repayment? Many thanks for any advice.
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5 replies
not2tall · 20/03/2013 18:52
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