SECTION 617.1302. Authorized distributions.

Latest version.

1(1) 2A mutual benefit corporation may purchase its memberships pursuant to s. 13617.0608 14only if, after the purchase is completed:
21(a) 22The mutual benefit corporation is able to pay its debts as they become due in the usual course of its activities; and
44(b) 45The total assets of the mutual benefit corporation at least equal the sum of its total liabilities.
62(2) 63A corporation may make distributions upon dissolution in conformity with the dissolution provisions of this chapter.

History.-s. 38, ch. 2009-205.

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