ARTICLE 1. Issuance of Memberships [12400. - 12405.]

Article 1 added by Stats. 1982, Ch. 1625, Sec. 3.

§§ 12400–12405 · 7 sections

• § 12400 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.
• § 12401 (a) A corporation may issue, but is not required to issue, membership certificates. In the event that membership certificates are issued, the certificates…
• § 12402 (a) A corporation may issue a new membership certificate in the place of any certificate theretofore issued by it, alleged to have been lost, stolen or…
• § 12403 (a) Except as provided in subdivision (b), or in its articles or bylaws, a corporation may admit any person to membership. (b) A corporation may not admit its…
• § 12404 Except as permitted in Sections 12314 and 12404.5, the voting power of members having voting rights shall be equal.
• § 12404.5 (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…
• § 12405 There shall be no voting by proxy.