§ 3. Amendment for qualification of plan.  


Latest version.
  • It is the intent of the Board that the Plan shall be and remain qualified for tax purposes under the Code. The Administrator shall promptly submit the Master Plan for approval under the Code and all expenses incident thereto shall be borne by the GMEBS Investment Fund. The Board may make any modifications, alterations, or amendments to the Master Plan or Adoption Agreement necessary to obtain and retain approval of the Secretary of the Treasury or his delegate as may be necessary to establish and maintain the status of the Plan as qualified under the provisions of the Code or in compliance with other federal legislation, as now in effect or hereafter enacted, and the regulations issued thereunder. Any modification, alteration, or amendment of the Plan, made in accordance with this Section, may be made retroactively, if necessary or appropriate. A certified copy of the resolution of the Board making such amendment shall be delivered to the Administrator and the Adopting Employers, and the Plan shall be amended in the manner and effective as of the date set forth in such resolution, and the Adopting Employers, Employees, Participants, beneficiaries, Administrator, and all others having any interest under the Plan shall be bound thereby.