Statute · California Corporations Code
Cal. Corp. Code § 13315 — Stock
Cal. Corp. Code § 13315
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
An association may, at any time, as specified in the by-laws, except when the debts of the association exceed 50 percent of its assets, buy in or purchase its common stock at the book value thereof, as conclusively determined by the board of directors and pay for it in cash within one year…
Citator
Cal. Corp. Code § 13315 — Stock is in force in the current edition of the Code, and nothing recorded condemns it.
An association may, at any time, as specified in the by-laws, except when the debts of the association exceed 50 percent of its assets, buy in or purchase its common stock at the book value thereof, as conclusively determined by the board of directors and pay for it in cash within one year thereafter.