California Corporations Code

§ 5332

CORP § 5332Div. 2 · Title 1 · Part 2 · Ch. 3 · Art. 3

Statute text

(a)A corporation may refer to persons associated with it as “members” even though such persons are not members within the meaning of Section 5056; but references to members in this part mean members as defined in Section 5056.

(b)A corporation may benefit, serve, or assist persons who are not members within the meaning of Section 5056 for such consideration, if any, as the board may determine or as is authorized or provided for in the articles or bylaws.

Legislative history

Amended by Stats. 1979, Ch. 724.