Title BPC — California Bus. & Prof. Code
0 chapters · 8,612 sections in this title.
Bus. & Prof. Code § 26228.3 Section 26228.3
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The board of directors of every association shall cause to be sent to the members of the association not later than 120 days after the close of the fiscal or calendar year an annual report of the operations of the association, unless the report is expressly dispensed with in the …
Bus. & Prof. Code § 26229 Section 26229
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Under the terms and conditions that are prescribed in the bylaws adopted by it, an association may admit as members or issue common stock only to persons engaged in the cultivation of a cannabis product that is to be handled by or through the association.
Bus. & Prof. Code § 26229.1 Section 26229.1
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If a member of a nonstock association is other than a natural person, the member may be represented by any individual, associate, officer, or manager or member of it, who is duly authorized in writing.
Bus. & Prof. Code § 26229.2 Section 26229.2
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Any association may become a member or stockholder of any other association.
Bus. & Prof. Code § 26229.3 Section 26229.3
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If a member of an association that is established without shares of stock has paid his membership fee in full, he or she shall receive a certificate of membership.
Bus. & Prof. Code § 26229.4 Section 26229.4
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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, bu…
Bus. & Prof. Code § 26229.5 Section 26229.5
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An association, in its bylaws, may limit the amount of common stock that any member may own.
Bus. & Prof. Code § 26229.6 Section 26229.6
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The bylaws shall prohibit the transfer of the common stock or membership certificates of the associations to a person that is not qualified to be a shareholder or member as specified in this chapter. These restrictions shall be printed upon every certificate of stock or membershi…
Bus. & Prof. Code § 26229.7 Section 26229.7
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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 …
Bus. & Prof. Code § 26229.8 Section 26229.8
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A member or stockholder is not liable for the debts of the association to an amount that exceeds the sum that remains unpaid on his membership fee or his subscription to the capital stock, including any unpaid balance on any promissory note that is given in payment of the members…
Bus. & Prof. Code § 26230 Section 26230
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The association and its members may make and execute marketing contracts that require the members to sell, for any period of time, but not over 15 years, all or a specified part of a cannabis product exclusively to or through the association, or a facility that is created by the …
Bus. & Prof. Code § 26230.1 Section 26230.1
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Notwithstanding any provisions of the Civil Code, a contract that is entered into by a member or stockholder of an association that provides for the delivery to the association of a cannabis product that is produced or acquired by the member or stockholder may be specifically enf…
Bus. & Prof. Code § 26230.2 Section 26230.2
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The bylaws or a marketing contract may fix, as liquidated damages, specific sums to be paid by the member or stockholder to the association upon the breach by him or her of any provision of the marketing contract regarding the sale or delivery or withholding of a cannabis product…
Bus. & Prof. Code § 26230.3 Section 26230.3
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If there is a breach or threatened breach of a marketing contract by a member, the association shall be entitled to an injunction to prevent the further breach of the contract and to a decree of specific performance of the contract. Pending the adjudication of the action and upon…
Bus. & Prof. Code § 26231 Section 26231
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A corporation that is organized or existing pursuant to any law except Part 12 (commencing with Section 14550) of Division 3 of Title 1 of the Corporations Code may be brought under the provisions of this chapter by amending its articles of incorporation, in the manner that is pr…
Bus. & Prof. Code § 26231.1 Section 26231.1
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Articles of incorporation shall be deemed to conform to this chapter within the meaning of Section 26231 if it clearly appears from the articles of incorporation that the corporation desires to be subject to, and to be organized, exist, and function pursuant to this chapter.
Bus. & Prof. Code § 26231.2 Section 26231.2
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If the amended articles conform, as provided in Section 26231.1, provisions in the articles of incorporation that appeared in the original articles or some previous amended articles, are ineffective if, and to the extent that, they are inapplicable to, or inconsistent with, this …