§ 6715 Corporate Asset Return Conditions

Corporations Code·California

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Key Takeaways

•If a company closes down, it must give back stuff it was holding for others.
•This only happens if there was a clear rule saying the stuff had to be given back when the company closed.
•The company has to follow the exact rule about how and when to give the stuff back.

Example

A toy company goes out of business and had promised to return any unsold toys to the makers if they closed.

The toy company must now give back all the unsold toys to the people who made them because that was the deal.

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

Official Source

View on CA.gov

§ 6715 Corporate Asset Return Conditions

After complying with the provisions of Section 6713, assets held by a corporation upon a valid condition requiring return, transfer, or conveyance, which condition has occurred or will occur by reason of the dissolution, shall be returned, transferred, or conveyed in accordance with the condition. (Added by Stats. 1978, Ch. 567.)

Last verified: January 23, 2026

Key Terms

assets valid condition return, transfer, or conveyance dissolution

References

Official text at leginfo.legislature.ca.gov
California Legislature. Corporations Code. Section 6715.

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Key Takeaways

Example

Key Terms

Related Statutes

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