Idaho § 30-27-125 DISTRIBUTIONS PROHIBITED — COMPENSATION AND OTHER PERMITTED PAYMENTS

Idaho Statutes

§ 30-27-125 — DISTRIBUTIONS PROHIBITED — COMPENSATION AND OTHER PERMITTED PAYMENTS

Idaho·Title 30 CORPORATIONS·Part 1 GENERAL PROVISIONS·Ch. 27 UNINCORPORATED NONPROFIT ASSOCIATIONS

(a)Except as otherwise provided in subsection (b) of this section, an unincorporated nonprofit association may not pay dividends or make distributions to a member or manager.

(b)An unincorporated nonprofit association may:

(1)Pay reasonable compensation or reimburse reasonable expenses to a member or manager for services rendered;

(2)Confer benefits on a member or manager in conformity with its nonprofit purposes;

(3)Repurchase a membership and repay a capital contribution made by a member to the extent authorized by its governing principles; or

(4)Make distributions of property to members upon winding up and termination to the extent permitted by section 30-27 128, Idaho Code.

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(a) Except as otherwise provided in subsection (b) of this section, an unincorporated nonprofit association may not pay dividends or make distributions to a member or manager.
(b) An unincorporated nonprofit association may:
(1) Pay reasonable compensation or reimburse reasonable expenses to a member or manager for services rendered;
(2) Confer benefits on a member or manager in conformity with its nonprofit purposes;
(3) Repurchase a membership and repay a capital contribution made by a member to the extent authorized by its governing principles; or
(4) Make distributions of property to members upon winding up and termination to the extent permitted by section 30-27 128, Idaho Code.

Idaho § 30-27-125 (DISTRIBUTIONS PROHIBITED — COMPENSATION AND OTHER PERMITTED PAYMENTS) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.