California Corporations Code Section 1306
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California Laws > Corporations Code > California Corporations Code Section 1306
1306. To the extent that the provisions of Chapter 5 prevent the
payment to any holders of dissenting shares of their fair market
value, they shall become creditors of the corporation for the amount
thereof together with interest at the legal rate on judgments until
the date of payment, but subordinate to all other creditors in any
liquidation proceeding, such debt to be payable when permissible
under the provisions of Chapter 5.
Section: 1306
Last modified: February 22, 2013
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