Wyoming Statutes
§ 17-19-1302 — Purchase of memberships; authorized distributions
Wyoming·Title 17 Corporations, Partnerships and Associations·Ch. 19 WYOMING NONPROFIT CORPORATION ACT·Art. 13 DISTRIBUTIONS
(a)A mutual benefit corporation may purchase its
memberships if after the purchase is completed:
(i)The corporation would be able to pay its debts as
they become due in the usual course of its activities; and
(ii)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 article 14 of this act.
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Nearby Sections
15
§ 17-19-1001
Authority to amend§ 17-19-1002
Amendment by directors§ 17-19-1003
Amendment by directors and members§ 17-19-1004
Class voting by members on amendments§ 17-19-1005
Articles of amendment§ 17-19-1006
Restated articles of incorporation§ 17-19-1007
Amendment pursuant to judicial reorganization§ 17-19-1008
Effect of amendment§ 17-19-101
Short title§ 17-19-102
Reservation of power to amend or repeal§ 17-19-1020
Amendment by directors§ 17-19-1021
Amendment by directors and members§ 17-19-1022
Class voting by members on amendments§ 17-19-1030
Approval by third persons