Corporations Code § 12451

ARTICLE 1. Limitations

Current as of September 28, 2026Corp. Code, § 12451Official source ↗Ask about this

Amended by Stats. 1983, Ch. 792, Sec. 23.

Distributions (Section 12235) in any fiscal year shall not exceed 15 percent, multiplied by contributions (whether by membership fees, capital credits, or otherwise) to capital.