California Business and Professions Code ARTICLE 9 - Members

• Section 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...
• Section 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...
• Section 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.
  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...
• Section 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...
• Section 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...
• Section 26229.6.
  The bylaws shall prohibit the transfer of the common stock or membership certificates of the associations to a person that is not qualified to be...
• Section 26229.7.
  The association may, at any time, as specified in the bylaws, except when the debts of the association exceed 50 percent of its assets, buy...
• Section 26229.8.
  A member or stockholder is not liable for the debts of the association to an amount that exceeds the sum that remains unpaid on his...

Last modified: October 22, 2018