California Corporations Code

§ 12632

CORP § 12632Div. 3 · Title 1 · Part 2 · Ch. 16

Statute text

(a)A voluntary election to wind up and dissolve may be revoked prior to distribution of any assets: (1) if the election was made pursuant to paragraph (1) of subdivision (a) of Section 12630, by the approval of a majority of all members; (2) if the election was made pursuant to paragraph (2) of subdivision (a) of Section 12630, by approval of the board and approval of the members; or (3) if the election was by the board pursuant to subdivision (b) of Section 12630, by approval of the board. Thereupon a certificate evidencing the revocation shall be signed, verified and filed in the manner prescribed by Section 12631.

(b)The certificate shall set forth:

(1)That the corporation has revoked its election to wind up and dissolve.

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Legislative history

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