Section 65.554 - Authorized distributionsUnless prohibited by the corporation's articles of incorporation or bylaws:
(1) A mutual benefit corporation may purchase the mutual benefit corporation's memberships and, under the circumstances indicated in ORS 65.147 and 65.171, a public benefit corporation or religious corporation may purchase the public benefit corporation's or religious corporation's memberships, if after the purchase is completed:(a) The corporation would be able to pay the corporation's debts as they become due in the usual course of the corporation's activities; and(b) The corporation's total assets would at least equal the sum of the corporation's total liabilities.(2) A corporation may make distributions upon dissolution in conformity with ORS 65.621 to 65.674.(3) A corporation may make distributions to a member that is a religious corporation or public benefit corporation or to a foreign nonprofit corporation that, if incorporated in this state, would qualify as a religious corporation or public benefit corporation.Amended by 2019 Ch. 174,§ 87, eff. 5/24/2019, op. 1/1/2020.