GroundRules
CORP § 7413
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 purchase or redeem a membership of the parent or subsidiary if the articles of the corporation contain a provision authorized by subparagraph (B) of paragraph (4) of subdivision (a) of Section 7132 and such corporation or the subsidiary making the purchase or redemption is, or as a result thereof would be, likely to be unable to meet the obligations resulting from such article provision.
Collected 2026-09-14T05:56:33Z. Source file · JSON