{"data":{"id":"us-ms/miss.-code-ann.-79-11-293","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 79-11-293","heading":"Authorization for making distributions; conditions for corporation to purchase memberships.","body":"(1) Except as authorized under subsections (2) and (3) of this section, a corporation shall not make any distributions.\n(2) A corporation may purchase its memberships if after the purchase is completed:\n(a) The corporation would be able to pay its debts as they become due in the usual course of its activities; and\n(b) The corporation’s total assets would at least equal the sum of its total liabilities.\n(3) A corporation may make distributions upon dissolution in accordance with the provisions of Section 79-11-101 et seq. relating to dissolution.","path":["Title 79. Corporations, Associations, and Partnerships","Chapter 11. Nonprofit, Nonshare Corporations and Religious Societies","Mississippi Nonprofit Corporation Act"],"source_url":"https://archive.org/download/gov.ms.code.ann.2018/release78.2020.07.08/gov.ms.code.title.79.odt","current_through":"2020-07-08","vintage":"Mississippi Code Release 78 (2020-07), retrieved 2026-09-17","retrieved_at":"2026-10-27T05:54:23Z","sha256":"574783c6885069d7c62ab6321269d8c95c1ce652a34e5b5b18029564fd6fc29a","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-79-11-291","next":"us-ms/miss.-code-ann.-79-11-295","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}