Statute · California Corporations Code
Cal. Corp. Code § 12656 — General Provisions Relating to Dissolution
Cal. Corp. Code § 12656
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
After complying with the provisions of Section 12653 and except as otherwise provided in Section 12655, assets held by a corporation shall be disposed of on dissolution as follows:
Citator
Cal. Corp. Code § 12656 — General Provisions Relating to Dissolution is in force in the current edition of the Code, and nothing recorded condemns it.
After complying with the provisions of Section 12653 and except as otherwise provided in Section 12655, assets held by a corporation shall be disposed of on dissolution as follows:
(a) If the articles or bylaws provide the manner of disposition, the assets shall be disposed of in that manner.
(b) If the articles or bylaws do not provide the manner of disposition, the assets shall be distributed among the members in accordance with their respective rights therein.