In this article, “distribution to its shareholders” has the meaning set forth in Corporations Code Section 166.
Cal. Fin. Code § 31230
Distributions to Shareholders
Known as the Business and Industrial Development Corporations Law
The act spans §§ 31000–31952 (132 sections).
Added by Stats. 1977, Ch. 1164.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.