Authorization for making distributions; conditions for corporation to purchase memberships.

Miss. Code Ann. § 79-11-293
in effect
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Except as authorized under subsections (2) and (3) of this section, a corporation shall not make any distributions. A 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. A corporation may make distributions upon dissolution in accordance with the provisions of Section 79-11-101 et seq. relating to dissolution.
Source: Public.Resource.Org MS CodeURL: https://unicourt.github.io/cic-code-ms/transforms/ms/ocms/r78/gov.ms.code.title.79.htmlFetched: 10/18/2026

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