California Statutes
§ 7411. — 7411. (Amended by Stats. 1979, Ch. 724.)
California·Code CORP Corporations Code - CORP·Div. 2.·Title 1. DIVISION 2. NONPROFIT CORPORATION LAW·Part 3. PART 3. NONPROFIT MUTUAL BENEFIT CORPORATIONS·Ch. 4. CHAPTER 4. Distributions·Art. 1. ARTICLE 1. Limitations
(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.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 7411. (7411. (Amended by Stats. 1979, Ch. 724.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1979, Ch. 724.