Quick Links
- General Laws Conversion Table (2024) [PDF]
- Florida Statutes Definitions Index (2024) [PDF]
- Table of Section Changes (2024) [PDF]
- Preface to the Florida Statutes (2024) [PDF]
- Table Tracing Session Laws to Florida Statutes (2024) [PDF]
- Index to Special and Local Laws (1971-2024) [PDF]
- Index to Special and Local Laws (1845-1970) [PDF]
- Statute Search Tips
2011 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.