§ 5055
50 words·~1 min read·
/ca/corporations-code/5055A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“Liquidating price” or “liquidation preference,” as used in Part 3 (commencing with Section 7110), means amounts payable on memberships of any class, upon voluntary or involuntary dissolution, winding up or distribution of the entire assets of the corporation, in priority to amounts payable to members of another class or classes.