7-133-101. Distributions prohibited. |
Except as authorized by section 7-133-102, a nonprofit corporation shall not make any distributions.
7-133-102. Authorized distributions.
(1) A nonprofit corporation may:
(a) Make distributions of its income or assets to its members that are domestic or foreign nonprofit corporations;
(b) Pay compensation in a reasonable amount to its members, directors, or officers for services rendered; and
(c) Confer benefits upon its members in conformity with its purposes.
(2) Nonprofit corporations may make distributions upon dissolution in conformity with article 134 of this title.
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