§ 8616 Corporate Termination And Winding Up

Corporations Code·California

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Key Takeaways

•If a company's time to exist runs out and it doesn't get extended, the company has to stop working.
•The people in charge (the board) must finish up all the company's business.
•Once everything is done, most of the people in charge must sign and send a paper saying the company is closed.

Example

A small toy store was set up to run for 10 years. After 10 years, the owner didn't renew the store's papers.

The store has to stop selling toys and finish things like paying bills. When everything is done, the owner and others in charge must sign a paper to officially close the store.

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

Official Source

View on CA.gov

§ 8616 Corporate Termination And Winding Up

Except as otherwise provided by law, if the term of existence for which any corporation was organized expires without renewal or extension thereof, the board shall terminate its activities and wind up its affairs; and when the affairs of the corporation have been wound up a majority of the directors shall execute and file a certificate conforming to the requirements of Section 8615. (Added by Stats. 1978, Ch. 567.)

Last verified: January 23, 2026

Key Terms

term of existence renewal or extension wind up its affairs certificate Section 8615

References

Official text at leginfo.legislature.ca.gov
California Legislature. Corporations Code. Section 8616.

Key Takeaways

Example

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Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References