Skip to content
ChatProjectCodes

DIVISION 20. PROCESSORS, STORERS, DEALERS, AND DISTRIBUTORS OF AGRICULTURAL PRODUCTS 54001-57700›CHAPTER 1. Nonprofit Cooperative Associations 54001-54294›ARTICLE 9. Members 54231-54239

§ 54238

California Food and Agricultural Code · 2020-11 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.

(Enacted by Stats. 1967, Ch. 15.)

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

Ask AI about this code
Export this section
▸Contents — California Food and Agricultural Code
California Food and Agricultural 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.