{"data":{"id":"us-mt/35-2-1401","jurisdiction":"us-mt","citation":"35-2-1401","heading":"Prohibited distributions -- permitted transactions.","body":"(1) Except as authorized by 35-2-1402, a corporation may not make any distributions.\n(2) A public benefit corporation may, subject to the requirements of Title 15, chapter 31, and this chapter, as applicable:\n(a) pay reasonable compensation or reimburse reasonable expenses to members, directors, or officers for services rendered; and\n(b) confer benefits upon or make contributions to members in conformity with its charitable purposes if after the transaction is completed:\n(i) the corporation would be able to pay its debts as they become due in the usual course of its activities; and\n(ii) the corporation's total assets would at least equal the sum of its total liabilities.","path":["TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS","CHAPTER 2. NONPROFIT CORPORATIONS","Part 14. Distributions"],"source_url":"https://mca.legmt.gov/bills/mca/title_0350/chapter_0020/part_0140/section_0010/0350-0020-0140-0010.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:53:13Z","sha256":"b7134d5e150da0fef56ad8bcfdbaedb9f966ec0b84441d644e3467b1fd8ac413","source_id":"us-mt","stale":false,"prev":"us-mt/35-2-1307","next":"us-mt/35-2-1402"},"notice":"GroundRules: Original legal text. Not legal advice."}