Montana § 35-2-1402 Authorized Distributions

Montana Statutes

§ 35-2-1402 — Authorized Distributions

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 2 NONPROFIT CORPORATIONS·Part 14 Distributions

35-2-1402 . Authorized distributions.

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

(a)the corporation would be able to pay its debts as they become due in the usual course of its activities; and

(b)the corporation's total assets would at least equal the sum of its total liabilities.

(2)Corporations may make distributions upon dissolution in conformity with part 7 of this chapter.

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35-2-1402 . Authorized distributions. (1) A mutual benefit corporation may purchase its memberships if after the purchase is completed:
(a) the corporation would be able to pay its debts as they become due in the usual course of its activities; and
(b) the corporation's total assets would at least equal the sum of its total liabilities.
(2) Corporations may make distributions upon dissolution in conformity with part 7 of this chapter.

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