California CodesBusiness and Professions Code - BPCDivision 10 — CannabisChapter 22 — Cannabis Cooperative AssociationsArticle 9 — MembersSection 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 engaged in the cultivation of a cannabis product that is to be handled by or through the association.
Notes
Limits admission as members and issuance of common stock by a cannabis cooperative association to persons engaged in cultivating a cannabis product that will be handled by or through the association. Allows the association’s bylaws to prescribe the governing terms and conditions, without stating a minimum cultivation amount, ownership percentage, fee, or deadline.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 26229 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-10/chapter-22/article-9/section-26229