NMSA 53-8-28. Shares of stock and dividends prohibited; exemption from
Nonprofit corporations may not issue stock or distribute income, profits, or assets to insiders, but they may pay reasonable compensation, give member benefits consistent with their purposes, and make permitted distributions on dissolution or final liquidation. Nonprofit corporations are generally exempt from franchise
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- United States — New Mexico
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- en
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Nonprofit corporations may not issue stock or distribute income, profits, or assets to insiders, but they may pay reasonable compensation, give member benefits consistent with their purposes, and make permitted distributions on dissolution or final liquidation. Nonprofit corporations are generally exempt from franchise tax unless they receive unrelated business income.
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NMSA 53-8-28. Shares of stock and dividends prohibited; exemption from
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