§ 35-2-1402

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.