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2018 Nebraska Revised Statutes
Chapter 21 - CORPORATIONS AND OTHER COMPANIES
21-19,128 Authorized distributions.
Universal Citation: NE Code § 21-19,128 (2018)
21-19,128. 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) Corporations may make distributions upon dissolution in conformity with sections 21-19,129 to 21-19,145.
Source
- Laws 1996, LB 681, ยง 128.
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