55A-13-01. Prohibited distributions. Except as authorized by G.S. 55A-13-02 or Article 14 of this Chapter, a corporation shall not make any distributions. (1955, c. 1230; 1985 (Reg. Sess., 1986), c. 801, s. 32; 1993, c. 398, s. 1.)
55A-13-02. Authorized distributions. (a) A corporation may pay reasonable amounts to its members, directors, or officers for services rendered or other value received and may confer benefits upon its members in conformity with its purposes. (b) Subject to the provisions of subsection (d) of this section: (1) A corporation may make distributions to any entity […]
