Posts Tagged ‘avoiding dissolution’
California Corporations Code Not Applied to Avoid Dissolution of Foreign Entities
When an action is brought to dissolve a California limited partnership or a California limited liability company, the California Corporations Code allows the other partners or the other members to avoid the dissolution by purchasing, for cash, the interests owned by the party seeking dissolution. Corp C § 15908.02(b) is the provision that applies to…
Read MoreBuy-Sell Agreements in the Articles of Incorporation
Under the Corporations Code, if there is a suit for involuntary dissolution, or if there is an election to dissolve voluntarily by shareholders representing only 50% of the voting power of the stock, the dissolution of the corporation and the appointment of a receiver can be avoided by purchasing the shares owned by the shareholder…
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