Section 79-11-293 - Authorization for making distributions; conditions for corporation to purchase memberships(1) Except as authorized under subsections (2) and (3) of this section, a corporation shall not make any distributions.(2) A corporation may purchase its memberships if after the purchase is completed: (a) The corporation would be able to pay its debts as they become due in the usual course of its activities; and(b) The corporation's total assets would at least equal the sum of its total liabilities.(3) A corporation may make distributions upon dissolution in accordance with the provisions of Section 79-11-101 et seq. relating to dissolution.Laws, 1987, ch. 485, § 97, eff. 1/1/1988.