An association is not subject in any manner to the terms of the Corporate Securities Law (Division 1 (commencing with Section 25000) of Title 4 of the Corporations Code), and any association may issue its membership certificates or stock or other securities as provided in this chapter without the necessity of any qualification under that law.
Cal. Bus. & Prof. Code § 26228
Financial Provisions
Known as the Medicinal and Adult-Use Cannabis Regulation and Safety Act
The act spans §§ 26000 to 26308 (207 sections).
Added by Stats. 2017, Ch. 27, Sec. 107
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.