DecisionDepot
California legal research

California Corporations Code

§ 2004

CORP § 2004Div. 1 · Title 1 · Ch. 20

Statute text

View on leginfo.ca.gov
After determining that all the known debts and liabilities of a corporation in the process of winding up have been paid or adequately provided for, the board shall distribute all the remaining corporate assets among the shareholders according to their respective rights and preferences or, if there are no shareholders, to the persons entitled thereto. If the winding up is by court proceeding or subject to court supervision, the distribution shall not be made until after the expiration of any period for the presentation of claims which has been prescribed by order of the court.

Legislative history

Amended by Stats. 1976, Ch. 641.

Source: California Corporations Code § 2004 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.