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.)
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 26227.3.
26227.3. An association may purchase or otherwise acquire, hold, own, and exercise all rights of ownership in, sell, transfer, pledge, or guarantee the payment of dividends or interest on, or the retirement or redemption of, shares of the capital stock or bonds of an association that is engaged in any related activity or in the […]
Section 26225.9.
26225.9. The bylaws may prescribe any of the following: (a) The number and qualification of members or stockholders of the association and the conditions precedent to membership or ownership of common stock. (b) The method, time, and manner of permitting members to withdraw or the holders of common stock to transfer their stock. (c) The manner of assignment […]
Section 26227.4.
26227.4. An association may establish reserves and invest the funds of the reserves in bonds or in other property as may be provided in the bylaws. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)