2011 Vermont Code
Title 11B Nonprofit Corporations
Chapter 13 DISTRIBUTIONS
§ 2 Authorized distributions
§ 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. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)
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