California Corporations Code

§ 6717

CORP § 6717Div. 2 · Title 1 · Part 2 · Ch. 17

Statute text

Subject to the provisions of any trust under which assets to be distributed are held, 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’s assets.

Legislative history

Added by Stats. 1978, Ch. 567.