12. Property remaining on dissolution

If upon the dissolution of the Corporation there remains any property after the satisfaction of all debts and liabilities, any property whatsoever shall not be distributed among members of the Corporation, but shall be given or transmitted to some other institution or institutions having objects similar to those of the Corporation, and which is or are by its rules prohibited from distributing any income or property among its or their members. Such institution or institutions may be determined by the Board of Management on or before the dissolution of the Corporation.