Subject to the articles or bylaws, memberships may be issued by a corporation for no consideration or for such consideration as is determined by the board.
Cal. Corp. Code § 5311
Issuance of Memberships
Known as the Nonprofit Public Benefit Corporation Law
The act spans §§ 5110–6910 (202 sections).
Amended by Stats. 1981, Ch. 587, Sec. 10.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.