414D-231 Prohibited distributions.

§414D-231 Prohibited distributions. Except as authorized by section 414D-232, a corporation shall not make any distributions. [L 2001, c 105, pt of §1]

414D-232 Authorized distributions.

§414D-232 Authorized distributions. (a) A corporation other than a public benefit corporation may purchase its memberships if, after the purchase is completed: (1) The corporation would be able to pay its debts as they become due in the usual course of its activities; and (2) The corporation’s total assets would be equal to at least […]

414D-233 Notice to the attorney general of intention to dissolve

§414D-233 Notice to the attorney general of intention to dissolve. (a) A public benefit corporation shall give the attorney general written notice that it intends to dissolve before the time it delivers the articles of dissolution to the department director. The notice shall include a copy or summary of the plan of dissolution. (b) No […]