Authorized distributions.

  1. Law
  2. Colorado Revised Statutes
  3. Corporations And Associations
  4. Distributions
  5. Authorized distributions.

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(1) A nonprofit corporation may:

  1. Make distributions of its income or assets to its members that are domestic or foreignnonprofit corporations;

  2. Pay compensation in a reasonable amount to its members, directors, or officers forservices rendered; and

  3. Confer benefits upon its members in conformity with its purposes.

(2) Nonprofit corporations may make distributions upon dissolution in conformity with article 134 of this title.

Source: L. 97: Entire article added, p. 719, § 3, effective July 1, 1998.


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