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The Florida Statutes

The 2017 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS
Chapter 617
CORPORATIONS NOT FOR PROFIT
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F.S. 617.1302
617.1302 Authorized distributions.
(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.
History.s. 38, ch. 2009-205.