“Liquidation price” or “liquidation preference” means amounts payable on shares of any class upon voluntary or involuntary dissolution, winding up or distribution of the entire assets of the corporation, including any cumulative dividends accrued and unpaid, in priority to shares of another class or classes.
Cal. Corp. Code § 172
General Provisions and Definitions
Known as the General Corporation Law
The act spans §§ 100–2319 (398 sections).
Applied in 1 court decision — leading case 117 Cal. App. 4th 183 - Kline Hawkes California SBIC, L.P. v. Superior Court (2004)
Most recently applied in 117 Cal. App. 4th 183 - Kline Hawkes California SBIC, L.P. v. Superior Court (March 2004)
Added by Stats. 1975, Ch. 682.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.