12. Property remaining on dissolution

If upon the dissolution of the Corporation there remains after the satisfactions of all its debts and liabilities any property whatsoever, such property shall not be distributed among the members of the Corporation but shall be given or transferred to some other association or associations having objects similar to the objects of the

Corporation and which is or are by the rules prohibited from the distribution of any income or profit among its or their members. Such association or associations shall be determined by the members of the Corporation at or immediately before the time of dissolution of the Corporation.