Arkansas § 4-33-1302 Authorized distributions

Arkansas Statutes

§ 4-33-1302 — Authorized distributions

(a)A mutual benefit corporation may purchase its memberships if after the purchase is completed:

(1)the corporation would be able to pay its debts as they become due in the usual course of its activities; and (2) the corporation's total assets would at least equal the sum of its total liabilities.

(b)Corporations may make distributions upon dissolution in conformity with §§ 4-33-1401 et seq.

(c)Corporations that are organized and operated as cooperative within the meaning of Subchapter T of the Internal Revenue Code of 1986, as amended, Internal Revenue Code §§ 1381 - 1388, may make distributions to their members in accordance with Subchapter T.

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(a) A mutual benefit corporation may purchase its memberships if after the purchase is completed: (1) the corporation would be able to pay its debts as they become due in the usual course of its activities; and (2) the corporation's total assets would at least equal the sum of its total liabilities. (b) Corporations may make distributions upon dissolution in conformity with §§ 4-33-1401 et seq. (c) Corporations that are organized and operated as cooperative within the meaning of Subchapter T of the Internal Revenue Code of 1986, as amended, Internal Revenue Code §§ 1381 - 1388, may make distributions to their members in accordance with Subchapter T.

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