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2010 Florida Statutes
SECTION 1302
Authorized distributions.
Authorized distributions.
617.1302
Authorized distributions.
—(1)
A mutual benefit corporation may purchase its memberships pursuant to s. 617.0608 only if, after the purchase is completed:
(a)
The mutual benefit corporation is able to pay its debts as they become due in the usual course of its activities; and
(b)
The total assets of the mutual benefit corporation at least equal the sum of its total liabilities.
(2)
A corporation may make distributions upon dissolution in conformity with the dissolution provisions of this chapter.
History.
—s. 38, ch. 2009-205.