Skip to content
ChatProjectCodes

TITLE 1. CORPORATIONS 100-14631›DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES 12000-14631›PART 2. COOPERATIVE CORPORATIONS 12200-12704›CHAPTER 17. General Provisions Relating to Dissolution 12650-12663

§ 12656

California Corporations Code · 2020-11 edition · updated 2026-10-04 · California

After complying with the provisions of Section 12653 and except as otherwise provided in Section 12655, assets held by a corporation shall be disposed of on dissolution as follows:

(a) If the articles or bylaws provide the manner of disposition, the assets shall be disposed of in that manner.

(b) If the articles or bylaws do not provide the manner of disposition, the assets shall be distributed among the members in accordance with their respective rights therein.

(Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.)

Get a plain-English answer with a citation back to this text.

Ask AI about this code
Export this section
▸Contents — California Corporations Code
California Corporations Code

GoCodebook provides public access, search, citation, multilingual explanation, and practical interpretation of legally adopted building regulations. It is not a substitute for the official ICC or California code publications.