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Vt. Stat. Ann. tit. 11B, § 13

02. Authorized distributions

Added 1995, No. 179 (Adj

(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.

Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.