Corp. Code, § 12454 · Article 1. Limitations

Corp. Code, § 12454

Verbatim from the official edition

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

Nothing in this chapter prohibits additional restrictions upon the purchase or redemption of a membership, upon distributions, or upon patronage distributions, by provision in a corporation’s articles or bylaws or agreement entered into by the corporation.

Notes and commentary — not statutory text

History

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=12454.
Text hash: sha256 1bce518c1df630d4c03460a673338244f797c9ab19326b42356d101c55229009
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

Cited by 1 provision

Provisions in this library whose text cites Corp. Code, § 12454. Each shows the citation as that text prints it.

Corporations Code

Corp. Code, § 12452Printed as Section 12454

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.