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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

§ 12445

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

The articles or bylaws shall prescribe:

(a) The manner of determining each member’s share of the capital of the corporation contributed by the members and, if repayable, the time and manner for its repayment; and

(b) The manner of determining the value, if any, of the member’s interest in the corporation apart from contributed capital and the time and manner of the corporation’s purchase, if required, of such interest from a terminated member.

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

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California Corporations Code

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