California CodesBusiness and Professions Code - BPCDivision 10 — CannabisChapter 22 — Cannabis Cooperative AssociationsArticle 8 — Financial ProvisionsSection 26228
An association is not subject in any manner to the terms of the Corporate Securities Law (Division 1 (commencing with Section 25000) of Title 4 of the Corporations Code), and any association may issue its membership certificates or stock or other securities as provided in this chapter without the necessity of any qualification under that law.
Notes
Exempts a cannabis cooperative association from the Corporate Securities Law and allows it to issue membership certificates, stock, or other securities as provided by the cooperative chapter without qualifying them under that law. Applies the exemption to the association’s authorized securities while leaving the chapter’s own issuance requirements in place.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 26228 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-10/chapter-22/article-8/section-26228