Arizona § 10-11302 - Authorized distributions
Full text of Arizona Arizona Revised Statutes § 10-11302 — Authorized distributions, with citation guidance and answers to common questions.
§ 10-11302. Authorized distributions
A. A corporation may purchase its memberships if after the purchase is completed both:
1. The corporation would be able to pay its debts as the debts become due in the usual course of its activities.
2. The corporation's total assets would at least equal the sum of its total liabilities.
B. A corporation may make distributions on dissolution that conform to chapter 37 of this title.
C. A corporation may make distributions to members who are domestic or foreign nonprofit corporations if after the distribution is made both:
1. The corporation would be able to pay its debts as the debts become due in the usual course of its activities.
2. The corporation's total assets would at least equal the sum of its total liabilities.
Frequently Asked Questions About Arizona § 10-11302
What does Arizona Revised Statutes § 10-11302 cover?
Section 10-11302 ("Authorized distributions") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 10-11302?
A common citation format is "Arizona Revised Statutes § 10-11302" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 10-11302 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.