California Corporations Code
§ 7411
CORP § 7411Div. 2 · Title 1 · Part 3 · Ch. 4 · Art. 1
Statute text
View on leginfo.ca.gov(a)Except as provided in subdivision (b), no corporation shall make any distribution except upon dissolution.
(b)A corporation may, subject to meeting the requirements of Sections 7412 and 7413 and any additional restrictions authorized by Section 7414, purchase or redeem memberships.
Legislative history
Amended by Stats. 1979, Ch. 724.