Home/California/Statutes/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/§ 7412.
California Statutes

§ 7412. — 7412. (Added by Stats. 1978, Ch. 567.)

California § 7412.
JurisdictionCalifornia
Code CORPCorporations 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

This text of California § 7412. (7412. (Added by Stats. 1978, Ch. 567.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Cal. Corporations Code - CORP Code § 7412. (2026).

Text

Neither a corporation nor any of its subsidiaries shall make a distribution 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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Legislative History

Added by Stats. 1978, Ch. 567.
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California § 7412., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/CORP/7412..