Nonprofit Mutual Benefit Corp. Law › CHAPTER 17. General Provisions Relating to Dissolution [8710 - 8724]
California Corporations Code § 8717. Order of Disposition of Assets on Dissolution
(Added by Stats. 1978, Ch. 567.)
Text current as of August 17, 2026, per California Legislative Information.
Text current as of August 17, 2026, per California Legislative Information.
After complying with the provisions of Section 8713 and except as otherwise provided in Sections 8715 and 8716, assets held by a corporation shall be disposed of on dissolution as follows:
(a) If the articles or bylaws provide the manner of disposition, the assets shall be disposed of in that manner.
(b) If the articles or bylaws do not provide the manner of disposition, the assets shall be distributed among the members in accordance with their respective rights therein.
The text of the Nonprofit Mutual Benefit Corporation Law is provided for reference and convenience only, from the California Legislative Information website (leginfo.legislature.ca.gov). It is not legal advice, and the official version of California statutes is published by the state. Statutes may have been amended after the “current as of” date shown above. Consult counsel regarding the application of any statute to your association.