“Distribution” means the distribution of any gains, profits or dividends to any member as such. As used in this section, “member” means any person who is a member as defined in Section 5056 and any person who is referred to as a member as authorized by subdivision (a) of Sections 5332, 7333 and 9332.
Cal. Corp. Code § 5049
GENERAL PROVISIONS AND DEFINITIONS GOVERNING PARTS 1 THROUGH 5
Known as the Nonprofit Corporation Law
The act spans §§ 5000–10841 (129 sections).
Amended 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.