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California Corporations Code

§ 14009

CORP § 14009 Effective Oct 4, 2013Div. 3 · Title 1 · Part 5 · Ch. 1 · Art. 4

Statute text

View on leginfo.ca.gov
(a)Each corporation shall have provisions establishing a grievance procedure for employees, clients, or potential clients, to appeal a decision or obtain redress of an action done by the staff or loan committee of the corporation. The procedures shall be established in writing during the probationary period of a new corporation.
(b)The bylaws of the corporation shall authorize the removal of officers only by a two-thirds vote of the directors of the corporation.

Legislative history

Added by Stats. 2013, Ch. 537, Sec. 2. (AB 1247) Effective October 4, 2013.

Source: California Corporations Code § 14009 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.