Section 26226.7.
26226.7. If a vacancy on the board of directors occurs, except by expiration of term, the remaining members of the board, by a majority vote, shall fill the vacancy, unless the bylaws provide for an election of directors by districts. If the bylaws provide for an election of directors by districts, the vacancy shall be […]
Section 26226.8.
26226.8. (a) The directors shall elect a president, one or more vice presidents, a secretary, a treasurer, and such other officers as may be prescribed by the bylaws. Any two or more offices, except those of president and secretary, may be held by the same person. (b) The treasurer may be a bank or a depository and, […]
Section 26226.9.
26226.9. (a) A member may bring charges against an officer or director by filing them in writing with the secretary of the association, together with a petition that is signed by 5 percent of the members, which requests the removal of the officer or director in question. The removal shall be voted upon at the next […]
Section 26227.
26227. An association may engage in any activity in connection with the growing, harvesting, curing, drying, trimming, packing, grading, storing, or handling of any cannabis product that is produced or delivered to it by its members; or any activity in connection with the purchase, hiring, or use by its members of supplies, machinery, or equipment, […]
Section 26227.1.
26227.1. An association may borrow without limitation as to the amount of corporate indebtedness or liability and may make advances to members. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)
Section 26227.2.
26227.2. An association may act as the agent or representative of any member or members in any of the activities specified in Section 26226.2 or 26226.3. (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 26222.4.
26222.4. The marketing contracts and agreements between an association that is organized pursuant to this chapter and its members and any agreements authorized in this chapter shall not result in restraint of trade, or violation of law of this state. (Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)
Section 26222.5.
26222.5. The General Corporation Law (Division 1 (commencing with Section 100) of Title 1 of the Corporations Code) applies to each association that is organized pursuant to this chapter, except where those provisions are in conflict with or inconsistent with the express provisions of this chapter. For the purpose of associations organized without shares of […]
Section 26222.6.
26222.6. (a) Except as provided in subdivision (c), Chapter 7 (commencing with Section 1500) of Title 10 of Part 3 of the Code of Civil Procedure does not apply to a proprietary interest in an association organized in accordance with this chapter. A proprietary interest that would otherwise escheat to the state pursuant to Chapter 7 […]