California § 26225.95. 26225.95. (Added by Stats. 2017, Ch. 27, Sec. 107.)

California Statutes

§ 26225.95. — 26225.95. (Added by Stats. 2017, Ch. 27, Sec. 107.)

California § 26225.95.

JurisdictionCalifornia

Code BPCBusiness and Professions Code - BPC

Div. 10.DIVISION 10. Cannabis

Ch. 22.CHAPTER 22. Cannabis Cooperative Associations

Art. 5.ARTICLE 5. Bylaws

This text of California § 26225.95. (26225.95. (Added by Stats. 2017, Ch. 27, Sec. 107.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Business and Professions Code - BPC Code § 26225.95. (2026).

Text

(a)The bylaws may prescribe any of the following:

(1)The manner of determining the value of a member’s interest and provision for its purchase by the association upon the death or withdrawal of a member or upon the expulsion of a member or forfeiture of his or her membership, or at the option of the association, the purchase at a price fixed by conclusive appraisal by the board of directors.

(2)The conditions and terms for the repurchase by the association from its stockholders of their stock upon their disqualification as stockholders.

(b)If a member is expelled and the bylaws do not provide any procedure or penalty for expulsion, the board of directors shall equitably and conclusively appraise his or her property interest in the association and shall fix the amount of his or he

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(a)
The bylaws may prescribe any of the following:
(1)
The manner of determining the value of a member’s interest and provision for its purchase by the association upon the death or withdrawal of a member or upon the expulsion of a member or forfeiture of his or her membership, or at the option of the association, the purchase at a price fixed by conclusive appraisal by the board of directors.
(2)
The conditions and terms for the repurchase by the association from its stockholders of their stock upon their disqualification as stockholders.
(b)
If a member is expelled and the bylaws do not provide any procedure
or penalty for expulsion, the board of directors shall equitably and conclusively appraise his or her property interest in the association and shall fix the amount of his or her property interest in money, which shall be paid to him or her within one year after such expulsion.