California Statutes
§ 501. — 501. (Repealed and added by Stats. 1975, Ch. 682.)
California·Code CORP Corporations Code - CORP·Div. 1.·Title 1. DIVISION 1. GENERAL CORPORATION LAW·Ch. 5. CHAPTER 5. Dividends and Reacquisitions of Shares
Neither a corporation nor any of its subsidiaries shall make any distribution to the corporation’s shareholders (Section 166) if the corporation or the subsidiary making the distribution is, or as a result thereof would be, likely to be unable to meet its liabilities (except those whose payment is otherwise adequately provided for) as they mature.
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California § 501. (501. (Repealed and added by Stats. 1975, Ch. 682.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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Legislative History
Repealed and added by Stats. 1975, Ch. 682.