US Lawyer Database

For Lawyer-Seekers

YOU DESERVE THE BEST LAWYER

  1. A nonprofit corporation may:
    1. Make distributions of its income or assets to its members that are domestic or foreign nonprofit corporations;
    2. Pay compensation in a reasonable amount to its members, directors, or officers for services rendered; and
    3. Confer benefits upon its members in conformity with its purposes.
  2. Nonprofit corporations may make distributions upon dissolution in conformity with article 134 of this title.

Source: L. 97: Entire article added, p. 719, § 3, effective July 1, 1998.