§ 6717
75 words·~1 min read·
/ca/corporations-code/6717A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subject to the provisions of any trust under which assets to be distributed are held, distribution may be made either in money or in property or securities and either in installments from time to time or as a whole, if this can be done fairly and ratably and in conformity with the provisions of the articles and bylaws and shall be made as soon as reasonably consistent with the beneficial liquidation of the corporation’s assets.