California Corporations Code 5049 – “Distribution” means the distribution of any gains, profits or …
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“Distribution” means the distribution of any gains, profits or dividends to any member as such. As used in this section, “member” means any person who is a member as defined in Section 5056 and any person who is referred to as a member as authorized by subdivision (a) of Sections 5332, 7333 and 9332.
(Amended by Stats. 1979, Ch. 724.)
Terms Used In California Corporations Code 5049
- Person: includes a corporation as well as a natural person. See California Corporations Code 18