Current as of January 01, 2019 | Updated by FindLaw Staff
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(a) A corporation which is dissolved nevertheless continues to exist for the purpose of winding up its affairs, prosecuting and defending actions by or against it and enabling it to collect and discharge obligations, dispose of and convey its property and collect and divide its assets, but not for the purpose of continuing business except so far as necessary for the winding up thereof.
(b) No action or proceeding to which a corporation is a party abates by the dissolution of the corporation or by reason of proceedings for winding up and dissolution thereof.
(c) Any assets inadvertently or otherwise omitted from the winding up continue in the dissolved corporation for the benefit of the persons entitled thereto upon dissolution of the corporation and on realization shall be distributed accordingly.
Cite this article: FindLaw.com - California Code, Corporations Code - CORP § 2010 - last updated January 01, 2019 | https://codes.findlaw.com/ca/corporations-code/corp-sect-2010.html
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