CAL. CORP. CODE § 501 : California Code - Section 501

Search CAL. CORP. CODE § 501 : California Code - Section 501

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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Dividends and Reacquisitions of Shares [500. - 511.]

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