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California Corporations Code

§ 1306

CORP § 1306Div. 1 · Title 1 · Ch. 13

Statute text

View on leginfo.ca.gov
To the extent that the provisions of Chapter 5 prevent the payment to any holders of dissenting shares of their fair market value, they shall become creditors of the corporation for the amount thereof together with interest at the legal rate on judgments until the date of payment, but subordinate to all other creditors in any liquidation proceeding, such debt to be payable when permissible under the provisions of Chapter 5.

Legislative history

Repealed and added by Stats. 1975, Ch. 682.

Source: California Corporations Code § 1306 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.