§ 58-47-105. Dividends and other distributions. - North Carolina Statutes

§ 58‑47‑105. Dividends and other distributions.

(a)        Group dividends andother distributions shall be made in accordance with G.S. 58‑7‑130,58‑8‑25(b), and 58‑19‑30.  A group shall be incompliance with this Part before payment of dividends or other distributions toits members.  No group shall pay dividends or other distributions to itsmembers until two years after the group's licensing date.

(b)        Payment ofdividends to the members of any group shall not be contingent upon themaintenance or continuance of membership in the group. (1997‑362,s. 3.)