Statute · California Corporations Code
Cal. Corp. Code § 2004 — General Provisions Relating to Dissolution
Cal. Corp. Code § 2004
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
After determining that all the known debts and liabilities of a corporation in the process of winding up have been paid or adequately provided for, the board shall distribute all the remaining corporate assets among the shareholders according to their respective rights and preferences or, if…
Citator
Cal. Corp. Code § 2004 — General Provisions Relating to Dissolution is in force in the current edition of the Code, and nothing recorded condemns it.
After determining that all the known debts and liabilities of a corporation in the process of winding up have been paid or adequately provided for, the board shall distribute all the remaining corporate assets among the shareholders according to their respective rights and preferences or, if there are no shareholders, to the persons entitled thereto. If the winding up is by court proceeding or subject to court supervision, the distribution shall not be made until after the expiration of any period for the presentation of claims which has been prescribed by order of the court.