DIVISION 10. Cannabis 26000-26231.2›CHAPTER 22. Cannabis Cooperative Associations 26220-26231.2›ARTICLE 9. Members 26229-26229.8

§ 26229.7

California Business and Professions Code · 2018-11 edition · updated 2026-10-04 · California

The association may, at any time, as specified in the bylaws, except when the debts of the association exceed 50 percent of its assets, buy in or purchase its common stock at the book value of the common stock, as conclusively determined by the board of directors, and pay for it in cash within one year thereafter.

(Added by Stats. 2017, Ch. 27, Sec. 107. (SB 94) Effective June 27, 2017.)

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California Business and Professions Code

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