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California Corporations Code Section 501 and Duties, Liabilities and Rights of Officers, Directors and Shareholders, and Corporate Dissolutions

Cal. Corp. Code

California Corporations Code Section 501 - Shareholder Distributions and Illiquidity

Current as of August 1, 2010

Cal. Corp. Code Section 501. Neither a corporation nor any of its subsidiaries shall make any distribution to the corporation's shareholders (Section 166) if the corporation or the subsidiary making the distribution is, or as a result thereof would be, likely to be unable to meet its liabilities (except those whose payment is otherwise adequately provided for) as they mature.

　

If after reading California Corporations Code Section 501, you still have questions as to how this or any other Cal. Corp. Code Statute applies to your corporate issue, call the Law Firm of Corporate Lawyer Sebastian Gibson. Corporation Attorney Sebastian Gibson has over thirty years of experience with corporate legal matters in the U.S. and internationally.

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