(a) A corporation organized under this part may elect to be governed as a worker cooperative by making the following statement in its articles of incorporation or its amended articles of incorporation:
“This corporation is a worker cooperative corporation organized under the Cooperative Corporation Law.”
(b) A corporation that makes the election to be governed as a worker cooperative, unless expressly exempted, shall be governed by all the provisions of this part.
(Added by Stats. 2015, Ch. 192, Sec. 12. (AB 816) Effective January 1, 2016.)
Last modified: October 25, 2018