California Corporations Code

§ 5055

CORP § 5055Div. 2 · Title 1 · Part 1

Statute text

“Liquidating price” or “liquidation preference,” as used in Part 3 (commencing with Section 7110), means amounts payable on memberships of any class, upon voluntary or involuntary dissolution, winding up or distribution of the entire assets of the corporation, in priority to amounts payable to members of another class or classes.

Legislative history

Amended by Stats. 1983, Ch. 101, Sec. 20.