An association may borrow without limitation as to amount of corporate indebtedness or liability and may make advances to members.
Cal. Food & Agric. Code § 54172
Powers
Applied in 1 court decision — leading case Andrews Farms v. Calcot, Ltd. (2009)
Most recently applied in Andrews Farms v. Calcot, Ltd. (August 2009)
Enacted by Stats. 1967, Ch. 15.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.