California CodesBusiness and Professions Code - BPCDivision 10 — CannabisChapter 22 — Cannabis Cooperative AssociationsArticle 9 — MembersSection 26229.8
A member or stockholder is not liable for the debts of the association to an amount that exceeds the sum that remains unpaid on his membership fee or his subscription to the capital stock, including any unpaid balance on any promissory note that is given in payment of the membership fee or the subscription to the capital stock.
Notes
Limits a cannabis cooperative member’s or stockholder’s liability for association debts to the unpaid amount of the membership fee or capital-stock subscription, including any unpaid balance on a promissory note given for that fee or subscription. Bars debt liability beyond those unpaid membership or subscription obligations under the stated rule.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 26229.8 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-10/chapter-22/article-9/section-26229-8