California Law (Last Updated: March 4, 2014) |
Corporations Code - CORP |
Title 1. CORPORATIONS |
Division 3. CORPORATIONS FOR SPECIFIC PURPOSES |
Part 2. CONSUMER COOPERATIVE CORPORATIONS |
Chapter 4. Distributions |
ARTICLE 1. Limitations |
Section 12454.
Latest version.
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Nothing in this chapter prohibits additional restrictions upon the purchase or redemption of a membership, upon distributions, or upon patronage distributions, by provision in a corporation's articles or bylaws or agreement entered into by the corporation.
(Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.)