{"code":"CORP","codeName":"Corporations Code","section":"7412","citation":"Corp. Code, § 7412","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"TITLE 1. CORPORATIONS [100. - 14707.]","url":"https://blackletter.si/corporations-code/title-1"},{"name":"DIVISION 2. NONPROFIT CORPORATION LAW [5000. - 10841.]","url":"https://blackletter.si/corporations-code/title-1/division-2"},{"name":"PART 3. NONPROFIT MUTUAL BENEFIT CORPORATIONS [7110. - 8910.]","url":"https://blackletter.si/corporations-code/title-1/division-2/part-3"},{"name":"CHAPTER 4. Distributions [7410. - 7420.]","url":"https://blackletter.si/corporations-code/title-1/division-2/part-3/chapter-4"},{"name":"ARTICLE 1. Limitations [7410. - 7414.]","url":"https://blackletter.si/corporations-code/title-1/division-2/part-3/chapter-4/article-1"}],"history":"Added by Stats. 1978, Ch. 567.","effective":null,"html":"<p>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.</p>","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.","otherVersions":[],"url":"https://blackletter.si/corporations-code/limitations-7412","source":"California Legislative Information bulk export (pubinfo)"}