National Constitution Article XV

ARTICLE XV: HOUSE CORPORATIONS AND CHAPTER HOUSING

Section 1

No unincorporated Chapter shall own or lease real property under any circumstances.

Section 2

A nonprofit corporation may be incorporated by Chapter members under the laws of the state in which the property shall be located for the purpose for owning or leasing real property. The Corporation must include in its Articles of Incorporation the mission statement of Phi Sigma Pi and submit all governing documents with the incorporation application. The Chapter shall submit a copy of the Certificate of Incorporation to the National Office.

Section 3

Before a Chapter seeks incorporated status from the state, it must request and be granted approval from the National Council. If approval is granted, all documents filed to obtain incorporated status must also be provided to the National Council.

Section 4

Any nonprofit corporation that owns or leases real property is required to maintain liability insurance on all real property owned or leased and is required to maintain any other insurance as required by the National Council on all real property owned or leased.

Section 5

All Chapters owning or leasing property shall appoint a responsible party to make reports to the National Headquarters each academic term.

Section 6

Any corporation that wishes to permanently display any of the fraternity’s marks on the exterior of any structure, shall seek, and must be granted, written approval from the National Council to do so and must comply with any stipulations required by the National Council.