California Corporations Code 1307 – Cash dividends declared and paid by the corporation upon the …
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Cash dividends declared and paid by the corporation upon the dissenting shares after the date of approval of the reorganization by the outstanding shares (Section 152) and prior to payment for the shares by the corporation shall be credited against the total amount to be paid by the corporation therefor.
(Repealed and added by Stats. 1975, Ch. 682.)
Terms Used In California Corporations Code 1307
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- dissenting shares: means shares to which all of the following apply:
California Corporations Code 1300