Section 26227.9.
26227.9. (a) Any association may, upon resolution adopted by its board of directors, enter into all necessary and proper contracts and agreements and make all necessary and proper stipulations and arrangements with another cannabis cooperative or association that is formed in this state for the cannabis cooperative and more economical carrying on of its business or […]
Section 26230.2.
26230.2. The bylaws or a marketing contract may fix, as liquidated damages, specific sums to be paid by the member or stockholder to the association upon the breach by him or her of any provision of the marketing contract regarding the sale or delivery or withholding of a cannabis product and may provide that the […]
Section 26228.
26228. An association is not subject in any manner to the terms of the Corporate Securities Law (Division 1 (commencing with Section 25000) of Title 4 of the Corporations Code), and any association may issue its membership certificates or stock or other securities as provided in this chapter without the necessity of any qualification under […]
Section 26230.3.
26230.3. If there is a breach or threatened breach of a marketing contract by a member, the association shall be entitled to an injunction to prevent the further breach of the contract and to a decree of specific performance of the contract. Pending the adjudication of the action and upon filing a verified complaint that […]
Section 26228.1.
26228.1. If an association issues nonpar value stock, the issuance of the stock shall be governed by the terms of all general laws that cover the issuance of nonpar value stock in domestic corporations. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)
Section 26228.2.
26228.2. If an association with preferred shares of stock purchases the stock or any property, or any interest in any property of any person, it may discharge the obligations that are so incurred, wholly or in part, by exchanging for the acquired interest, shares of its preferred stock to an amount that at par value […]
Section 26228.3.
26228.3. The board of directors of every association shall cause to be sent to the members of the association not later than 120 days after the close of the fiscal or calendar year an annual report of the operations of the association, unless the report is expressly dispensed with in the bylaws. If required by […]
Section 26229.
26229. Under the terms and conditions that are prescribed in the bylaws adopted by it, an association may admit as members or issue common stock only to persons engaged in the cultivation of a cannabis product that is to be handled by or through the association. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB […]
Section 26229.1.
26229.1. If a member of a nonstock association is other than a natural person, the member may be represented by any individual, associate, officer, or manager or member of it, who is duly authorized in writing. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)
Section 26229.2.
26229.2. Any association may become a member or stockholder of any other association. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)