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Cal. Corp. Code § 5312

Issuance of Memberships

Known as the Nonprofit Public Benefit Corporation Law

The act spans §§ 5110–6910 (202 sections).

Amended by Stats. 1979, Ch. 724.

No person may hold more than one membership, and no fractional memberships may be held, provided, however, that:

(a) Two or more persons may have an indivisible interest in a single membership when authorized by, and in such manner or under the circumstances prescribed by, the articles or bylaws subject to Section 5612; and

(b) If the articles or bylaws provide for classes of membership and if the articles or bylaws permit a person to be a member of more than one class, a person may hold a membership in one or more classes.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.