Indiana Code Title 23. Business and Other Associations § 23-17-21-2

Sec. 2. (a) A mutual benefit corporation may purchase the corporation's memberships if, after the purchase is completed:

(b) Corporations may make distributions upon dissolution in conformity with IC 23-0.5-6, IC 23-17-22, or IC 23-17-24.

(c) A corporation may, in conformity with the purposes of the corporation, make distributions to and confer benefits on a member or an affiliate that is a governmental entity (as defined under IC 34-6-2.1-77) or a member or an affiliate that is another nonprofit domestic or foreign entity if, after any distribution is completed:

An affiliate is an entity that directly or indirectly controls, is controlled by, or is under common control with the corporation.  Control includes the power to select the corporation's board of directors.

(d) Corporations may repay loans or advances in accordance with and to the extent authorized under IC 23-17-7-9.