Current through the 2023 Legislative Session.
Section 7411 - Distribution upon dissolution; purchase or redemption of membership(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.Amended by Stats. 1979, Ch. 724.