06.12.060 Purchase of Memberships.
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(1) A public benefit corporation may not purchase any of its memberships or any right arising therefrom.
(2) A mutual benefit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions set forth in or authorized by its articles or bylaws.
(3) A mutual benefit corporation shall not purchase its memberships unless after the purchase is completed:
(A) The non-profit corporation would be able to pay its debts as they become due in the usual course of its activities; and
(B) The non-profit corporation’s total assets would at least equal the sum of its total liabilities.