California Codes, Business and Professions Code - BPC, Division 10 — Cannabis, Chapter 22 — Cannabis Cooperative Associations, Article 5 — Bylaws, Section 26225.8
The bylaws may prescribe the amount of dividends, if any, that may be declared on the stock or membership capital. To the extent that dividends are payable out of the excess of association income over association expenses attributable to business transacted with or for members, dividends shall not exceed 8 percent per annum.
Notes
Limits dividends that association bylaws may authorize from excess association income attributable to business transacted with or for members to no more than 8 percent per year. The bylaws may prescribe the amount of dividends generally, but the stated annual cap governs dividends paid from that member-related excess income.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 26225.8 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-10/chapter-22/article-5/section-26225-8