California Statutes
§ 12201. — 12201. (Repealed and added by Stats. 1982, Ch. 1625, Sec. 3.)
California·Code CORP Corporations Code - CORP·Div. 3.·Title 1. DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES·Part 2. PART 2. COOPERATIVE CORPORATIONS·Ch. 1. CHAPTER 1. General Provisions, Organization and Bylaws·Art. 1. ARTICLE 1. Title, Purposes and Application of Part
Subject to any other provision of law of this state applying to the particular class of corporation or line of activity, a corporation may be formed under this part for any lawful purpose provided that it shall be organized and shall conduct its business primarily for the mutual benefit of its members as patrons of the corporation. The earnings, savings, or benefits of the corporation shall be used for the general welfare of the members or shall be proportionately and equitably distributed to some or all of its members or its patrons, based upon their patronage (Section 12243) of the corporation, in the form of cash, property, evidences of indebtedness, capital credits, memberships, or services.
Such corporations are democratically controlled and are not organized to make a profit for them
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California § 12201. (12201. (Repealed and added by Stats. 1982, Ch. 1625, Sec. 3.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Repealed and added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.