Pub. Util. Code, § 3175 · Article 9. Members

Pub. Util. Code, § 3175

Verbatim from the official edition

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

An association shall not issue a certificate for stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, but that retention as security does not affect the member’s right to vote.

Notes and commentary — not statutory text

History

Added by Stats. 1987, Ch. 680, Sec. 1.

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=PUC&sectionNum=3175.
Text hash: sha256 e125532d6ad4d038526fe19894c0217e1252e51a16f0b0418923bc159727f0ef
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.