TITLE 1. CORPORATIONS 100-14631›DIVISION 2. NONPROFIT CORPORATION LAW 5000-10841›PART 1. GENERAL PROVISIONS AND DEFINITIONS GOVERNING PARTS 1 THROUGH 5 5002-5080

§ 5055

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

“Liquidating price” or “liquidation preference,” as used in Part 3 (commencing with Section 7110), means amounts payable on memberships of any class, upon voluntary or involuntary dissolution, winding up or distribution of the entire assets of the corporation, in priority to amounts payable to members of another class or classes.

(Amended by Stats. 1983, Ch. 101, Sec. 20.)

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.