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HomeCorporations CodeCh. 11§ 12560 Corporate Reorganization Proceedings

§ 12560 Corporate Reorganization Proceedings

Corporations Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 12560 Corporate Reorganization Proceedings

This law says that if a company is going through a big change (like reorganizing), the rules in Chapter 14 must be followed. It also says that when Chapter 14 talks about 'shareholders,' it means 'members' of the company instead.

Key Takeaways

  • •If a company is reorganizing, it must follow the rules in Chapter 14.
  • •When Chapter 14 says 'shareholders,' it means the people who are part of the company.
  • •This applies to any company changes under U.S. laws, now or in the future.

Example

A small business wants to change how it's run to avoid going broke.

The business must follow the rules in Chapter 14 for making these changes, and the word 'shareholders' in those rules really means the people who own or are part of the company.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 12560 Corporate Reorganization Proceedings

Any proceeding, initiated with respect to a corporation, under any applicable statute of the United States, as now existing or hereafter enacted, relating to reorganizations of corporations, shall be governed by the provisions of Chapter 14 (commencing with Section 1400) of Division 1 of Title 1, and for this purpose the reference in Chapter 14 to “shareholders” shall be deemed to be a reference to members and the reference to “this division” shall be deemed to be a reference to this part. (Amended by Stats. 2009, Ch. 500, Sec. 25. (AB 1059) Effective January 1, 2010.)

Last verified: January 10, 2026

Key Terms

reorganizations of corporationsChapter 14shareholdersmembers

Related Statutes

  • § 6110 Corporate Reorganization Proceedings
  • § 8110 Corporate Reorganization Proceedings
  • § 9650 Corporate Reorganization Proceedings
  • § 3500 Social Purpose Corporation Reports
  • § 1100 Corporate Merger Authorization Rules

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Corporations Code. Section 12560.
View Official Source