Clickable Image

     35-2-1402. Authorized distributions. (1) A mutual benefit corporation may purchase its memberships if after the purchase is completed:
     (a) the corporation would be able to pay its debts as they become due in the usual course of its activities; and
     (b) the corporation's total assets would at least equal the sum of its total liabilities.
     (2) Corporations may make distributions upon dissolution in conformity with part 7 of this chapter.

     History: En. Sec. 133, Ch. 411, L. 1991.

Previous Section MCA Contents Part Contents Search Help Next Section