“Class” refers to those memberships which: (a) are identified in the articles or bylaws as being a different type of membership; or (b) have the same rights with respect to voting, dissolution, redemption and transfer. For the purpose of this section, rights shall be considered the same if they are determined by a formula applied uniformly.
Cal. Corp. Code § 5041
GENERAL PROVISIONS AND DEFINITIONS GOVERNING PARTS 1 THROUGH 5
Known as the Nonprofit Corporation Law
The act spans §§ 5000–10841 (129 sections).
Repealed and added by Stats. 1979, Ch. 724.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.