Florida § 617.1302 Authorized distributions

Florida Statutes

§ 617.1302 — Authorized distributions

Florida § 617.1302

TitleXXXVI

Ch. 617CORPORATIONS NOT FOR PROFIT

This text of Florida § 617.1302 (Authorized distributions) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 617.1302 (2026).

Text

(1)A mutual benefit corporation may purchase its memberships pursuant to s. 617.0608 only if, after the purchase is completed:

(a)The mutual benefit corporation is able to pay its debts as they become due in the usual course of its activities; and (b) The total assets of the mutual benefit corporation at least equal the sum of its total liabilities.

(2)A corporation may make distributions upon dissolution in conformity with the dissolution provisions of this chapter.

Free access — add to your briefcase to read the full text and ask questions with AI

(1) A mutual benefit corporation may purchase its memberships pursuant to s. 617.0608 only if, after the purchase is completed: (a) The mutual benefit corporation is able to pay its debts as they become due in the usual course of its activities; and (b) The total assets of the mutual benefit corporation at least equal the sum of its total liabilities.

(2) A corporation may make distributions upon dissolution in conformity with the dissolution provisions of this chapter.