(a) Except as provided in subdivision (b), âcontrolâ means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a corporation. (b) âControlâ in Sections 181, 1001, and 1200 means the ownership directly or indirectly of shares or equity securities possessing more than 50 percent of the voting power of a domestic corporation, a foreign corporation, or an other business entity.
‹ Prev All California sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.