1. (1) A nonprofit corporation may:

   1. (a) Make distributions of its income or assets to its members that are domestic or foreign nonprofit corporations;
   2. (b) Pay compensation in a reasonable amount to its members, directors, or officers for services rendered; and
   3. (c) Confer benefits upon its members in conformity with its purposes.
2. (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.