Arkansas § 4-33-1302 - Authorized distributions.
Full text of Arkansas Arkansas Code of 1987 Annotated § 4-33-1302 — Authorized distributions., with citation guidance and answers to common questions.
§ 4-33-1302. Authorized distributions.
A mutual benefit corporation may purchase its memberships if after the purchase is completed: the corporation would be able to pay its debts as they become due in the usual course of its activities; and the corporation's total assets would at least equal the sum of its total liabilities. Corporations may make distributions upon dissolution in conformity with §§ 4-33-1401 et seq. Corporations that are organized and operated as cooperative within the meaning of Subchapter T of the Internal Revenue Code of 1986, as amended, Internal Revenue Code §§ 1381 — 1388, may make distributions to their members in accordance with Subchapter T.
Frequently Asked Questions About Arkansas § 4-33-1302
What does Arkansas Code of 1987 Annotated § 4-33-1302 cover?
Section 4-33-1302 ("Authorized distributions.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. 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 Arkansas § 4-33-1302?
A common citation format is "Arkansas Code of 1987 Annotated § 4-33-1302" (Arkansas). 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 Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 4-33-1302 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas 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 Arkansas.