Financial Code section 5761

The directors of an association may, in their discretion, abandon a transaction under this article, subject to the rights of third parties under any contracts relating thereto, without further action or approval by the stockholders or members of the association, at any time before the transaction has been completed.

Source: Section 5761, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=5761.­ (updated Jan. 1, 1983; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 5761's source at ca​.gov