California Corporations Code 505 – Nothing in this chapter prohibits additional restrictions upon the …
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Nothing in this chapter prohibits additional restrictions upon the declaration of dividends or the purchase or redemption of a corporation‘s own shares by provision in the articles or bylaws or in any indenture or other agreement entered into by the corporation.
(Added by Stats. 1975, Ch. 682.)
Terms Used In California Corporations Code 505
- 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.