There is a newer version
of
this Section
2018 Florida Statutes
Title XXXVI - Business Organizations
Chapter 617 - Corporations Not for Profit
617.1302 - Authorized Distributions.
Universal Citation: FL Stat § 617.1302 (2018)
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.
Disclaimer: These codes may not be the most recent version. Florida may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
