Statute · California Corporations Code
Cal. Corp. Code § 7413 — Limitations
Cal. Corp. Code § 7413
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Date
- 2023-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Neither a corporation nor any of its subsidiaries shall purchase or redeem a membership of the parent or subsidiary if the articles of the corporation contain a provision authorized by subparagraph (B) of paragraph (4) of subdivision (a) of Section 7132 and such corporation or the subsidiary…
Citator
Cal. Corp. Code § 7413 — Limitations is in force in the current edition of the Code, and nothing recorded condemns it.
Neither a corporation nor any of its subsidiaries shall purchase or redeem a membership of the parent or subsidiary if the articles of the corporation contain a provision authorized by subparagraph (B) of paragraph (4) of subdivision (a) of Section 7132 and such corporation or the subsidiary making the purchase or redemption is, or as a result thereof would be, likely to be unable to meet the obligations resulting from such article provision.