Corp. Code, § 12245.2 · Article 2. General Provisions and Definitions

Corp. Code, § 12245.2

Verbatim from the official edition

Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)

“Preferred memberships” means memberships that have a preference over any other memberships with respect to distribution of assets on liquidation or with respect to payment of distributions.

Notes and commentary — not statutory text

History

Added by Stats. 2013, Ch. 538, Sec. 1. (AB 1255) Effective January 1, 2014.

Source of truth

Edition: As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Official file: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CORP&sectionNum=12245.2.
Text hash: sha256 62a2ed978dcd02e0666bf879ab8d57ff218fcdbac492493f57514d63b006c3fb
Composed by: compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section

Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.