Section 1301 – Distributions prohibited.

16-6a-1301. Distributions prohibited. Except as authorized by Section 16-6a-1302, a nonprofit corporation may not make a distribution. Enacted by Chapter 300, 2000 General Session

Section 1302 – Authorized distributions.

Effective 5/9/2017 16-6a-1302. Authorized distributions. (1) A nonprofit corporation may: (a) make distributions or distribute the nonprofit corporation’s assets to a: (i) member that is a domestic or foreign nonprofit corporation; (ii) member of a mutual benefit corporation, not inconsistent with its bylaws; (iii) shareholder of a water company in a manner consistent with its […]