Corporations Code § 5410
‹ § 5354§ 5420 ›Open in browserleginfo ↗5410.
No corporation shall make any distribution. This section shall not apply to the purchase of a membership in a limited-equity housing cooperative, as defined in Section 33007.5 of the Health and Safety Code, which is organized as a public benefit corporation.
(Amended by Stats. 1992, Ch. 250, Sec. 2. Effective January 1, 1993.)