Statute · California Corporations Code
Cal. Corp. Code § 8011.5 — Merger
Cal. Corp. Code § 8011.5
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Date
- 2023-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Each membership of the same class of any constituent corporation (other than the cancellation of memberships held by a surviving corporation or its parent or a wholly owned subsidiary of either in a constituent corporation) shall be treated equally with respect to any distribution of cash,…
Citator
Cal. Corp. Code § 8011.5 — Merger is in force in the current edition of the Code, and nothing recorded condemns it.
Each membership of the same class of any constituent corporation (other than the cancellation of memberships held by a surviving corporation or its parent or a wholly owned subsidiary of either in a constituent corporation) shall be treated equally with respect to any distribution of cash, property, rights or securities unless: (a) all members of the class consent or (b) the Commissioner of Financial Protection and Innovation has approved the terms and conditions of the transaction and the fairness of the terms pursuant to Section 25142.