Corp. Code, § 12400 · Article 1. Issuance of Memberships

Corp. Code, § 12400

Verbatim from the official edition

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

Subject to the articles or bylaws, memberships may be issued by a corporation for no consideration or for such consideration as is determined by the board.

Notes and commentary — not statutory text

History

Repealed and added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.

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=12400.
Text hash: sha256 bb352a18831f3649e41c8d5c19d3197ef1bfe8eefbeca55467440e4fc41fcf33
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.