Corporations Code - CORP
TITLE 1. CORPORATIONS [100 - 14707]
( Title 1 enacted by Stats. 1947, Ch. 1038. ) DIVISION 1. GENERAL CORPORATION LAW [100 - 2319]
( Division 1 repealed and added by Stats. 1975, Ch. 682. ) CHAPTER 23. Transition Provisions [2300 - 2319]
( Chapter 23 added by Stats. 1975, Ch. 682. ) 2308.
Chapter 5 of the new law applies to any distribution to its shareholders made after the effective date by a corporation existing on the effective date, except that any such distribution effected pursuant to a contract for the purchase or redemption of shares entered into by the corporation prior to the effective date may be made if permissible under Chapter 5 or under the prior law in effect at the time the contract was entered into.
(Added by Stats. 1975, Ch. 682.)