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California Corporations Code

§ 12445

CORP § 12445Div. 3 · Title 1 · Part 2 · Ch. 3 · Art. 5

Statute text

View on leginfo.ca.gov
The articles or bylaws shall prescribe:
(a)The manner of determining each member’s share of the capital of the corporation contributed by the members and, if repayable, the time and manner for its repayment; and
(b)The manner of determining the value, if any, of the member’s interest in the corporation apart from contributed capital and the time and manner of the corporation’s purchase, if required, of such interest from a terminated member.

Legislative history

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

Source: California Corporations Code § 12445 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.