California Corporations Code

§ 5041

CORP § 5041Div. 2 · Title 1 · Part 1

Statute text

“Class” refers to those memberships which: (a) are identified in the articles or bylaws as being a different type of membership; or (b) have the same rights with respect to voting, dissolution, redemption and transfer. For the purpose of this section, rights shall be considered the same if they are determined by a formula applied uniformly.

Legislative history

Repealed and added by Stats. 1979, Ch. 724.