Skip to content
ChatProjectCodes

TITLE 1. CORPORATIONS 100-14631›DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES 12000-14631›PART 2. COOPERATIVE CORPORATIONS 12200-12704›CHAPTER 3. Members 12400-12446›ARTICLE 5. Rights and Obligations of Members and Creditors 12440-12446

§ 12440

California Corporations Code · 2020-11 edition · updated 2026-10-04 · California

(a) A member of a corporation is not, as such, personally liable for the debts, liabilities, or obligations of the corporation.

(b) No person is liable for any obligation arising from membership unless the person was admitted to membership upon the person’s application or with the person’s consent.

(c) The ownership of an interest in real property, when a condition of its ownership is membership in a corporation, shall be considered consent to such membership for the purpose of this section.

(Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.)

Get a plain-English answer with a citation back to this text.

Ask AI about this code
Export this section
▸Contents — California Corporations Code
California Corporations Code

GoCodebook provides public access, search, citation, multilingual explanation, and practical interpretation of legally adopted building regulations. It is not a substitute for the official ICC or California code publications.