Notwithstanding Section 12530, a worker cooperative that has not revoked its election to be governed as a worker cooperative under Section 12310.5 shall not consolidate or merge with another corporation other than another worker cooperative. Two or more worker cooperatives may merge or consolidate in a manner consistent with this chapter.
Cal. Corp. Code § 12530.5
Merger
Known as the Cooperative Corporation Law
The act spans §§ 12200–12704 (266 sections).
Added by Stats. 2015, Ch. 192, Sec. 23
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.