Section 26229.3.
26229.3. If a member of an association that is established without shares of stock has paid his membership fee in full, he or she shall receive a certificate of membership. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)
Section 26229.4.
26229.4. An association shall not issue a certificate for stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, but the retention as […]
Section 26229.5.
26229.5. An association, in its bylaws, may limit the amount of common stock that any member may own. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)
Section 26225.95.
26225.95. (a) The bylaws may prescribe any of the following: (1) The manner of determining the value of a member’s interest and provision for its purchase by the association upon the death or withdrawal of a member or upon the expulsion of a member or forfeiture of his or her membership, or at the option of the […]
Section 26227.5.
26227.5. An association may buy, hold, and exercise all privileges of ownership over such real or personal property as may be necessary or convenient for the conduct and operation of, or incidental to, the business of the association. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)
Section 26226.
26226. The affairs of the association shall be managed by a board of not less than three directors who are elected by the members or stockholders. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)
Section 26227.6.
26227.6. An association may levy assessments in the manner and in the amount as may be provided in its bylaws. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)
Section 26226.1.
26226.1. The bylaws may provide that the territory in which the association has members shall be divided into districts and that directors shall be elected from the several districts. If the bylaws divides the territory into districts for the election of directors, the bylaws shall specify the number of directors to be elected by each […]
Section 26227.7.
26227.7. An association may do any of the following anywhere: (a) That which is what is necessary, suitable, or proper for the accomplishment of a purpose, or the attainment of an object, that is enumerated in this article. (b) That which is conducive to, or expedient for, the interest or benefit of the association. (c) Contract accordingly. (d) Exercise […]
Section 26226.2.
26226.2. The bylaws may provide that primary elections shall be held to nominate directors. If the bylaws provide that the territory in which the association has members shall be divided into districts, the bylaws may also provide that the results of the primary elections in the various districts shall be final and shall be ratified […]