Vt. Stat. tit. 11B § 13.02

Current through L. 2024, c. 185.
Section 13.02 - Authorized distributions
(a) A mutual benefit corporation may purchase its memberships if after the purchase is completed:
(1) the corporation would be able to pay its debts as they become due in the usual course of its activities; and
(2) the corporation's total assets would at least equal the sum of its total liabilities.
(b) A public benefit corporation and a mutual benefit corporation may make distributions upon dissolution in conformity with chapter 14 of this title.

11B V.S.A. § 13.02

Added 1995, No. 179 (Adj. Sess.), § 1, eff. 1/1/1997.