California Corporations Code

§ 12650

CORP § 12650Div. 3 · Title 1 · Part 2 · Ch. 17

Statute text

The powers and duties of the directors (or other persons appointed by the court pursuant to Section 12625) and officers after commencement of a dissolution proceeding include, but are not limited to, the following acts in the name and on behalf of the corporation:

(a)To elect officers and to employ agents and attorneys to liquidate or wind up its affairs.

(b)To continue the conduct of the affairs of the corporation insofar as necessary for the disposal or winding up thereof.

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Legislative history

Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.