BlackletterCalifornia law

Corporations Code § 12235

ARTICLE 2. General Provisions and Definitions

Current as of September 28, 2026Corp. Code, § 12235Official source ↗

Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.

“Distribution” means the distribution of any gains, profits or dividends to any member as such, but does not include patronage distributions.