“Distribution” means the distribution of any gains, profits or dividends to any member as such, but does not include patronage distributions.
Cal. Corp. Code § 12235
General Provisions and Definitions
Known as the Cooperative Corporation Law
The act spans §§ 12200–12704 (266 sections).
Applied in 1 court decision — leading case People ex rel. City of Dana Point v. Holistic Health (2013)
Most recently applied in People ex rel. City of Dana Point v. Holistic Health (February 2013)
Added by Stats. 1982, Ch. 1625, Sec. 3
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.