BlackletterCalifornia law

Corporations Code § 12400

ARTICLE 1. Issuance of Memberships

Current as of September 28, 2026Corp. Code, § 12400Official source ↗

Repealed and added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.

Subject to the articles or bylaws, memberships may be issued by a corporation for no consideration or for such consideration as is determined by the board.