California Corporations Code

§ 205

CORP § 205Div. 1 · Title 1 · Ch. 2

Statute text

Solely for the purpose of any statute or regulation imposing any tax or fee based upon the capitalization of a corporation, all authorized shares of a corporation organized under this division shall be deemed to have a nominal or par value of one dollar ($1) per share. If any federal or other statute or regulation applicable to a particular corporation requires that the shares of such corporation have a par value, such shares shall have the par value determined by the board in order to satisfy the requirements of such statute or regulation.

Legislative history

Added by Stats. 1975, Ch. 682.