CHAPTER 4. Distributions [5410. - 5420.]

Chapter 4 added by Stats. 1978, Ch. 567.

§§ 5410–5420 · 2 sections

1. ARTICLE 1. Limitations § 5410 · 1 section

   • § 5410 No corporation shall make any distribution. This section shall not apply to the purchase of a membership in a limited-equity housing cooperative, as defined in…
2. ARTICLE 2. Liability of Members § 5420 · 1 section

   • § 5420 (a) Any person who receives any distribution is liable to the corporation for the amount so received by such person with interest thereon at the legal rate on…