ARTICLE 9. Members

Article 9 added by Stats. 2017, Ch. 27, Sec. 107.

§§ 26229–26229.8 · 9 sections

• § 26229 Under the terms and conditions that are prescribed in the bylaws adopted by it, an association may admit as members or issue common stock only to persons…
• § 26229.1 If a member of a nonstock association is other than a natural person, the member may be represented by any individual, associate, officer, or manager or member…
• § 26229.2 Any association may become a member or stockholder of any other association.
• § 26229.3 If a member of an association that is established without shares of stock has paid his membership fee in full, he or she shall receive a certificate of…
• § 26229.4 An association shall not issue a certificate for stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the…
• § 26229.5 An association, in its bylaws, may limit the amount of common stock that any member may own.
• § 26229.6 The bylaws shall prohibit the transfer of the common stock or membership certificates of the associations to a person that is not qualified to be a shareholder…
• § 26229.7 The association may, at any time, as specified in the bylaws, except when the debts of the association exceed 50 percent of its assets, buy in or purchase its…
• § 26229.8 A member or stockholder is not liable for the debts of the association to an amount that exceeds the sum that remains unpaid on his membership fee or his…