{"code":"CORP","codeName":"Corporations Code","section":"12404.5","citation":"Corp. Code, § 12404.5","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 3. Members [12400. - 12446.]","url":"https://blackletter.si/corporations-code/title-1/division-3/part-2/chapter-3"},{"name":"ARTICLE 1. Issuance of Memberships [12400. - 12405.]","url":"https://blackletter.si/corporations-code/title-1/division-3/part-2/chapter-3/article-1"}],"history":"Added by Stats. 2015, Ch. 192, Sec. 15.   (AB 816)   Effective January 1, 2016.","effective":"2016-01-01","html":"<p>(a) The worker-members of a worker cooperative shall have voting power as provided in subdivision (a) of Section <a href=\"/corp/12253\">12253</a>.</p><p>(b) Community investors have voting power only as provided in subdivision (c) of Section <a href=\"/corp/12253\">12253</a>.</p>","text":"(a) The worker-members of a worker cooperative shall have voting power as provided in subdivision (a) of Section 12253. (b) Community investors have voting power only as provided in subdivision (c) of Section 12253.","otherVersions":[],"url":"https://blackletter.si/corporations-code/issuance-of-memberships-12404-5","source":"California Legislative Information bulk export (pubinfo)"}