Nothing in this chapter prohibits additional restrictions upon the purchase or redemption of a membership, upon distributions, or upon patronage distributions, by provision in a corporation’s articles or bylaws or agreement entered into by the corporation.
Cal. Corp. Code § 12454
Limitations
Known as the Cooperative Corporation Law
The act spans §§ 12200–12704 (266 sections).
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.