California Corporations Code

§ 18130

CORP § 18130 Effective Jan 1, 2005Title 3 · Part 1 · Ch. 3

Statute text

After all of the known debts and liabilities of an unincorporated association in the process of winding up its affairs have been paid or adequately provided for, the assets of the association shall be distributed in the following manner:

(a)Assets held upon a valid condition requiring return, transfer, or conveyance of the assets, which condition has occurred or will occur, shall be returned, transferred, or conveyed in accordance with the condition.

(b)After complying with subdivision (a), any remaining assets that are held in trust shall be distributed in accordance with the trust.

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Legislative history

Added by Stats. 2004, Ch. 178, Sec. 10. Effective January 1, 2005.