Arizona Statutes
§ 10-11302 — Authorized distributions
Arizona·Title 10 Arizona Revised Statutes·Ch. 36 DISTRIBUTIONS-NONPROFIT CORPORATIONS·Art. 1 General Provisions
A.A corporation may purchase its memberships if after the purchase is completed both:
1.The corporation would be able to pay its debts as the debts become due in the usual course of its activities.
2.The corporation's total assets would at least equal the sum of its total liabilities.
B.A corporation may make distributions on dissolution that conform to chapter 37 of this title.
C.A corporation may make distributions to members who are domestic or foreign nonprofit corporations if after the distribution is made both:
1.The corporation would be able to pay its debts as the debts become due in the usual course of its activities.
2.The corporation's total assets would at least equal the sum of its total liabilities.
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Nearby Sections
15
§ 10-1001
Authority to amend§ 10-1002
Amendment by board of directors§ 10-1005
Amendment before issuance of shares§ 10-1006
Articles of amendment§ 10-1007
Restated articles of incorporation§ 10-1008
Amendment pursuant to reorganization§ 10-1009
Effect of amendments§ 10-11001
Authority to amend§ 10-11002
Amendment by board of directors