15 Pa. C.S. § 9132

Current through Pa Acts 2024-53, 2024-56 through 2024-79
Section 9132 - Distributions prohibited; compensation and other permitted payments
(a) General rule.--Except as provided in subsection (b), anonprofit association may not pay dividends or make distributions to a member or manager.
(b) Permitted payments.--A nonprofit association may:
(1) pay reasonable compensation or reimburse reasonable expenses to a member or manager for services rendered;
(2) confer benefits on or make contributions to a member or manager in conformity with its nonprofit purposes;
(3) repurchase a membership and repay a capital contribution made by a member to the extent authorized by its governing principles;
(4) repay indebtedness to a member or manager; and
(5) make distributions of property to members upon winding up and termination to the extent permitted by section 9135 (relating to winding up).

15 Pa.C.S. § 9132

Added by P.L. 476 2013 No. 67, § 50, eff. 9/7/2013.