GroundRules
CORP § 7412
Where this section sits in the code
- Corporations Code - CORP
- TITLE 1. CORPORATIONS [100. - 14707.]
- DIVISION 2. NONPROFIT CORPORATION LAW [5000. - 10841.]
- PART 3. NONPROFIT MUTUAL BENEFIT CORPORATIONS [7110. - 8910.]
- CHAPTER 4. Distributions [7410. - 7420.]
- ARTICLE 1. Limitations [7410. - 7414.]
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.
Collected 2026-09-14T05:56:33Z. Source file · JSON