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.
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