Simple English definitions for legal terms
Read a random definition: Chief of Protocol
Inurement: Inurement means benefit. It is a term used to describe the good things that someone gets from something. For example, if you work hard and get a good job, you will get the inurement of a good salary. However, when it comes to non-profit organizations, there are rules that say they cannot give too much inurement to people who are in charge of the organization or have a lot of influence over it. This is called the inurement prohibition. Non-profit organizations also cannot give profits to people who control the organization, which is different from for-profit organizations.
Definition: Inurement is a term that means "benefit." It refers to the actual benefit received, rather than the action that grants the benefit. For example, if a non-profit organization provides a benefit to an individual who has a close relationship with the organization, that would be considered inurement.
Examples:
These examples illustrate how inurement can occur when a non-profit organization provides excessive benefits to individuals who have a close relationship with the organization. This is prohibited by the inurement prohibition and the nondistribution constraint, which are rules that non-profit organizations must follow in order to maintain their tax-exempt status.