Corporations Code section 12657

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 assets.

Source: Section 12657, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=CORP§ionNum=12657.­ (updated Jan. 1, 1984; accessed Jun. 30, 2025).

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Verified:
Jun. 30, 2025

§ 12657's source at ca​.gov