(a) A decentralized unincorporated nonprofit association may engage in profit-making activities, but profits from any activities shall be used in furtherance of, or set aside for, the decentralized unincorporated nonprofit association's common nonprofit purpose. (b) Except as provided in subsection (c) of this section, a decentralized unincorporated nonprofit association may not pay dividends or distribute any part of its income or profits to its members or administrators or persons outside the decentralized unincorporated nonprofit association. (c) A decentralized unincorporated nonprofit association may: (i) Pay reasonable compensation or reimburse reasonable expenses to its members, administrators and persons outside the decentralized unincorporated nonprofit association for services rendered, including with respect to the administration and operation of the decentralized unincorporated nonprofit association, which may include the provisions of collateral for the self-insurance of the decentralized unincorporated nonprofit association, voting or participation in the decentralized unincorporated nonprofit association's operations and activities; (ii) Confer benefits on its members and administrators in conformity with its common nonprofit purpose; (iii) Repurchase membership interests to the extent authorized by the decentralized unincorporated nonprofit association's governing principles; and (iv) Make distributions of property to members upon winding up and termination of the decentralized unincorporated nonprofit association to the extent permitted by W.S. 17-32-126.
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