The absence of any reference to par value in the articles of a corporation which is subject to the prior law relating to the contents of articles as specified in Section 2302 is equivalent to a statement that the shares of stock are to be without par value.
Cal. Corp. Code § 2302.5
Transition Provisions
Known as the General Corporation Law
The act spans §§ 100–2319 (398 sections).
Added by Stats. 1985, Ch. 764, Sec. 8.5.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.