BlackletterCalifornia law

Corporations Code § 7411

ARTICLE 1. Limitations

Current as of September 28, 2026Corp. Code, § 7411Official source ↗

Amended by Stats. 1979, Ch. 724.

(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.