of Charter If the organization does not comply with the provisions of this chapter, the charter granted shall expire. 150403. Purposes The purposes of the organization are as provided in its bylaws and articles of incorporation. 150404. Governing body (a) Board of Directors The composition of the board of directors for the organization, and the responsibilities of the board are as provided in the articles of incorporation and bylaws of the organization. (b) Officers The positions of officers/executive committee members of the organization, and the election of the officers and executive committee members, are as provided in the articles of incorporation and bylaws. (c) Executive Committee The positions of executive committee members of the organization, and the election of executive committee members, are as provided in the articles of incorporation and bylaws. (d) Executive Advisory Board The composition of the executive advisory board for the organization, and the responsibilities of the executive advisory board are as provided in the articles of incorporation and bylaws of the organization. 150405. Powers The corporation has only those powers provided in its bylaws and articles of incorporation filed in each State in which it is incorporated. 150406. Restrictions (a) Stock and Dividends The corporation may not issue stock or declare or pay a dividend. (b) Distribution of Income or Assets No part of the income or assets of this Corporation will be distributed, to its Directors or Officers. However, the corporation may contract in due course of business with its Officers or Directors for services rendered to the extent permissible under the articles of incorporation, under law and under section 501(c)(3) of the United States Internal Revenue Code of 1986. (c) Loans The organization may not loan money to any of its directors or officers. (d) Corporate Status The organization shall maintain its status as a corporation incorporated under the laws of the State of Florida. 150407. Tax-exempt status required as a