Corp. Code, § 159 · Chapter 1. General Provisions and Definitions

Corp. Code, § 159

Verbatim from the official edition

Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)

“Common shares” means shares which have no preference over any other shares with respect to distribution of assets on liquidation or with respect to payment of dividends.

Notes and commentary — not statutory text

History

Added by Stats. 1975, Ch. 682.

Source of truth

Edition: As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Official file: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CORP&sectionNum=159.
Text hash: sha256 2782b3ce6c654c7da227512652fbe5e9c23943ed1bfb4a157331333411d61a44
Composed by: compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section

Cited by 1 provision

Provisions in this library whose text cites Corp. Code, § 159. Each shows the citation as that text prints it.

Financial Code

Fin. Code, § 157Printed as Section 159 of the Corporations Code

Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.