The absence of any reference to par value in the articles of a corporation which is subject to the prior law relating to the contents of articles as specified in Section 2302 is equivalent to a statement that the shares of stock are to be without par value.

(Added by Stats. 1985, Ch. 764, Sec. 8.5.)

Terms Used In California Corporations Code 2302.5

  • 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.
  • prior law: means the applicable law as in effect prior to January 1, 1977. See California Corporations Code 2300
  Previous section
Next section  
 Chapter 23 Contents