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Florida Statutes Title XXXVI. Business Organizations § 617.1302. Authorized distributions

Current as of January 01, 2025 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Florida Statutes Title XXXVI. Business Organizations § 617.1302. Authorized distributions - last updated January 01, 2025 | https://codes.findlaw.com/fl/title-xxxvi-business-organizations/fl-st-sect-617-1302/

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