California Statutes
§ 13315. — 13315. (Added by Stats. 1953, Ch. 207.)
California·Code CORP Corporations Code - CORP·Div. 3.·Title 1. DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES·Part 3. PART 3. FISH MARKETING·Ch. 5. CHAPTER 5. Stock
An association may, at any time, as specified in the by-laws, except when the debts of the association exceed 50 percent of its assets, buy in or purchase its common stock at the book value thereof, as conclusively determined by the board of directors and pay for it in cash within one year thereafter.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 13315. (13315. (Added by Stats. 1953, Ch. 207.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1953, Ch. 207.