California Corporations Code ARTICLE 3 - Types of Memberships

• Section 12420.
  (a) Except as provided in subdivision (b), a corporation may issue memberships having different rights, privileges, preferences, restrictions, or conditions, as provided in its articles or...
• Section 12421.
  Except as provided in the articles or bylaws, all memberships shall have the same rights, privileges, preferences, restrictions and conditions.(Added by Stats. 1982, Ch. 1625,...
• Section 12422.
  (a) Unless the corporation’s articles or bylaws so provide, memberships are not redeemable. A corporation may provide in its articles or bylaws for one or more...

Last modified: October 22, 2018