{"code":"CORP","codeName":"Corporations Code","section":"12245.2","citation":"Corp. Code, § 12245.2","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"TITLE 1. CORPORATIONS [100. - 14707.]","url":"https://blackletter.si/corporations-code/title-1"},{"name":"DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES [12000. - 14707.]","url":"https://blackletter.si/corporations-code/title-1/division-3"},{"name":"PART 2. COOPERATIVE CORPORATIONS [12200. - 12704.]","url":"https://blackletter.si/corporations-code/title-1/division-3/part-2"},{"name":"CHAPTER 1. General Provisions, Organization and Bylaws [12200. - 12340.]","url":"https://blackletter.si/corporations-code/title-1/division-3/part-2/chapter-1"},{"name":"ARTICLE 2. General Provisions and Definitions [12210. - 12256.]","url":"https://blackletter.si/corporations-code/title-1/division-3/part-2/chapter-1/article-2"}],"history":"Added by Stats. 2013, Ch. 538, Sec. 1.   (AB 1255)   Effective January 1, 2014.","effective":"2014-01-01","html":"<p>“Preferred memberships” means memberships that have a preference over any other memberships with respect to distribution of assets on liquidation or with respect to payment of distributions.</p>","text":"“Preferred memberships” means memberships that have a preference over any other memberships with respect to distribution of assets on liquidation or with respect to payment of distributions.","otherVersions":[],"url":"https://blackletter.si/corporations-code/general-provisions-and-definitions-12245-2","source":"California Legislative Information bulk export (pubinfo)"}