California § 13315 - An association may, at any time, as specified in the by-laws, except when the deb
Full text of California Public Contract Code - PCC § 13315 — An association may, at any time, as specified in the by-laws, except when the deb, with citation guidance and answers to common questions.
§ 13315. An association may, at any time, as specified in the by-laws, except when the deb
An association may, at any time, as specified in the by-laws, except when the debts of the association exceed 50 percent of its assets, buy in or purchase its common stock at the book value thereof, as conclusively determined by the board of directors and pay for it in cash within one year thereafter.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 13315
What does Public Contract Code - PCC § 13315 cover?
Section 13315 ("An association may, at any time, as specified in the by-laws, except when the deb") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 13315?
A common citation format is "Public Contract Code - PCC § 13315" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 13315 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.