Can a non-profit civic association 501(c)(4) corporation located in Delaware file for bankruptcy protection?
1 Answer from Attorneys
The courts have generally held that a 501(c)(3) corporation may file for bankruptcy protection.
I'm not aware of any specific decisions on a 501(c)(4) corporation's eligibility, but the principles are the same for both and the structures are similar.
Given the case law on 501(c)(3) corporations, the answer is very likely to be "yes".
Robert D. Wilcox
Of Counsel to Werb & Sullivan
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