(1) A nonprofit corporation may:

1. (a) make distributions or distribute the nonprofit corporation's assets to a member:

   1. (i) that is a domestic or foreign nonprofit corporation;
   2. (ii) of a mutual benefit corporation, not inconsistent with its bylaws; or
   3. (iii) that is a governmental entity;
2. (b) pay compensation in a reasonable amount to its members, directors, or officers for services rendered;
3. (c) if a cooperative nonprofit corporation, make distributions consistent with its purposes; and
4. (d) confer benefits upon its members in conformity with its purposes.

(2) A nonprofit corporation may make distributions upon dissolution as follows:

1. (a) to a member that is a domestic or foreign nonprofit corporation;
2. (b) to its members if it is a mutual benefit corporation;
3. (c) to another nonprofit corporation, including a nonprofit corporation organized to receive the assets of and function in place of the dissolved nonprofit corporation; and
4. (d) otherwise in conformity to this chapter.

(3) A mutual benefit corporation may purchase a member's membership in conformity with Section 16-6a-610 if, after the purchase is completed:

1. (a) the mutual benefit corporation would be able to pay its debts as they become due in the usual course of its activities; and
2. (b) the mutual benefit corporation's total assets would at least equal the sum of its total liabilities.