California Corporations Code

§ 12657

CORP § 12657Div. 3 · Title 1 · Part 2 · Ch. 17

Statute text

Distribution may be made either in money or in property or securities and either in installments from time to time or as a whole, if this can be done fairly and ratably and in conformity with the provisions of the articles and bylaws and shall be made as soon as reasonably consistent with the beneficial liquidation of the corporation assets.

Legislative history

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