California Corporations Code

§ 504

CORP § 504 Effective Jan 1, 2001Div. 1 · Title 1 · Ch. 5

Statute text

(a)The provisions of Section 500 do not apply to a dividend declared by either of the following:

(1)A regulated investment company, as defined in the federal Internal Revenue Code, as amended, to the extent that the dividend is necessary to maintain the status of the corporation as a regulated investment company under the provisions of that code.

(2)A real estate investment trust, as defined in Part II of Subchapter M of Chapter 1 of Subtitle A of the federal Internal Revenue Code, as amended, to the extent that the dividend is necessary to maintain the status of the corporation as a real estate investment trust under the provisions of that code.

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Legislative history

Amended by Stats. 2000, Ch. 112, Sec. 1. Effective January 1, 2001.