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What happens to a Website when it is no longer hosted?

I run a website for a military veteran’s association. If the association is forced to close due to the age of its constituent members, it would nevertheless, wish its website to continue to be available to the surfing public in view of the historical importance of its content. Can this be achieved once a site is no longer being hosted and if so are there any organisations that will store the site as an archive for posterity?

It just shows a screen that says the page is no longer available.

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