California · Corporations Code

CORP §1307: Cash dividends declared and paid by the corporation upon the dissenting shares after the date of approval of the reorganization by the outstanding shares (Section 152) and prior to payment for the sha

What this law says, in plain English

This statute addresses cash dividends paid by a corporation on dissenting shares between shareholder approval of a reorganization and final payment for those shares.

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Cash dividends declared and paid by the corporation upon the dissenting shares after the date of approval of the reorganization by the outstanding shares (Section 152) and prior to payment for the shares by the corporation shall be credited against the total amount to be paid by the corporation therefor.

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