Current through Chapter 519 of the 2024 Legislative Session and Chapter 2 of the 2024 First Extraordinary Session
Section 7-133-102 - Authorized distributions(1) A nonprofit corporation may: (a) Make distributions of its income or assets to its members that are domestic or foreign nonprofit corporations;(b) Pay compensation in a reasonable amount to its members, directors, or officers for services rendered; and(c) Confer benefits upon its members in conformity with its purposes.(2) Nonprofit corporations may make distributions upon dissolution in conformity with article 134 of this title.L. 97: Entire article added, p. 719, § 3, effective 7/1/1998.