06.11.030 Non-Profit Corporations, Limitations.
(1) A non-profit corporation:
(A) Shall not have or issue shares of stock;
(B) Shall not pay dividends or make any disbursement of income to its members, directors or officers;
(C) Shall not loan money or credit to its officers or directors;
(D) May pay compensation only up to a reasonable amount to its members, directors, officers or agents for services rendered; and
(E) May confer benefits upon its members only in conformity with its purposes.
(2) A mutual benefit corporation, unless its articles of incorporation or bylaws provide otherwise:
(A) Upon dissolution or final liquidation may make distributions to its members as permitted by this Title, and no such payment, benefit or distribution shall be deemed to be a dividend or a distribution of income; and
(B) May periodically pay refunds to members for fees or dues actually paid which are in excess of the losses, expenses and debts of the non-profit corporation, and such refunds shall not be deemed to be dividends or distributions of income.
(3) A public benefit corporation shall, upon dissolution, have its assets distributed for one or more purposes listed in the definition of “Public Benefit Corporation”, or to the Cowlitz Indian Tribe for a public purpose, or shall be distributed by the Tribal Council or Court of competent jurisdiction to another organization to be used in such manner as in the judgment will best accomplish the general purposes for which the dissolved organization was organized.