California Corporations Code

§ 1900

CORP § 1900Div. 1 · Title 1 · Ch. 19

Statute text

(a)Any corporation may elect voluntarily to wind up and dissolve by the vote of shareholders holding shares representing 50 percent or more of the voting power.

(b)Any corporation which comes within one of the following descriptions may elect by approval by the board to wind up and dissolve:

(1)A corporation as to which an order for relief has been entered under Chapter 7 of the federal bankruptcy law.

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Legislative history

Amended by Stats. 1980, Ch. 501.