California Law (Last Updated: March 4, 2014) |
Food and Agricultural Code - FAC |
Division 20. PROCESSORS, STORERS, DEALERS, AND DISTRIBUTORS OF AGRICULTURAL PRODUCTS |
Chapter 1. Nonprofit Cooperative Associations |
ARTICLE 9. Members |
Section 54237.
Latest version.
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The bylaws shall prohibit the transfer of the common stock or membership certificates of the associations to any person that is not qualified to be a shareholder or member as specified in this chapter. Such restrictions shall be printed upon every certificate of stock or membership which is subject to them.
(Enacted by Stats. 1967, Ch. 15.)