Montana § 35-2-1402 - Authorized Distributions
Full text of Montana Montana Code Annotated § 35-2-1402 — Authorized Distributions, with citation guidance and answers to common questions.
§ 35-2-1402. Authorized Distributions
Authorized distributions. (1) A mutual benefit corporation may purchase its memberships if after the purchase is completed: (a) the corporation would be able to pay its debts as they become due in the usual course of its activities; and (b) the corporation's total assets would at least equal the sum of its total liabilities. (2) Corporations may make distributions upon dissolution in conformity with part 7 of this chapter.
Frequently Asked Questions About Montana § 35-2-1402
What does Montana Code Annotated § 35-2-1402 cover?
Section 35-2-1402 ("Authorized Distributions") is part of the Montana Code Annotated, the codified statutory law of Montana. 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 Montana § 35-2-1402?
A common citation format is "Montana Code Annotated § 35-2-1402" (Montana). 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 Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 35-2-1402 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana 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 Montana.