A person who, pursuant to a specific provision of Golden State Energy’s articles or bylaws, has the right to vote for the election of a director, on a disposition of all or substantially all of the assets of a corporation, on a merger, or on a dissolution, shall not be a member of Golden State Energy for purposes of the Nonprofit Public Benefit Corporation Law (Part 2 (commencing with Section 5110) of Division 2 of Title 1 of the Corporations Code), unless the articles or bylaws designate the person as a member.
Cal. Pub. Util. Code § 3433
Golden State Energy Regulation and Oversight
Known as the Golden State Energy Act
The act spans §§ 3400–3558 (26 sections).
Added by Stats. 2020, Ch. 27, Sec. 12
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.