Corporations Code § 12454

ARTICLE 1. Limitations

Current as of September 28, 2026Corp. Code, § 12454Official source ↗

Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.

Nothing in this chapter prohibits additional restrictions upon the purchase or redemption of a membership, upon distributions, or upon patronage distributions, by provision in a corporation’s articles or bylaws or agreement entered into by the corporation.