617.1302 Authorized distributions.
78 words·~1 min read·
/fl/title-xxxvi/chapter-617/617-1302·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A mutual benefit corporation may purchase its memberships pursuant to s. 617.0608 only if, after the purchase is completed:
(a)The mutual benefit corporation is able to pay its debts as they become due in the usual course of its activities; and
(b)The total assets of the mutual benefit corporation at least equal the sum of its total liabilities.
(2)A corporation may make distributions upon dissolution in conformity with the dissolution provisions of this chapter.